'Would you like a receipt for your transaction?' We've all been asked that question at gas stations, ATMs and elsewhere. There are approximately 8 billion ATM transactions in the United States every year. According to Market Watch, if everyone in the United States would select the no-receipt option at the ATM for a year, it would save a roll of paper more than two billion feet long, or enough to circle the equator 15 times. Saying 'No' to the question 'Would you like a receipt?" not only saves … more
Thanks to online banking, financial institutions offer virtual statements, also known as paperless statements or e-statements. Due to identity theft concerns, a virtual statement may be seen as a safer alternative against physical theft as it does not contain tangible personal information, and does not require extra safety measures of disposal such as shredding. However, a virtual statement is easier to obtain for the thief who is an expert on online banking.