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Jun 09

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Well the following companies have asked me to go paperless till now

  • Airtel
  • HDFC Bank
  • ICICI Bank

What that means is that i will only receive email statements and not the regular courier ones which they have to send. Most companies will tell you its to save trees. Infact Banks and credit card companies are pushing paperless financing. But do they really care ?

Well the answer is this :

While there is no doubt that going paperless will effectively help save trees, the fact that most companies hide from you is that they also save money. Logistics costs, postal costs, printing costs, paper costs,envelope costs are all saved when companies discontinue paper statements.

Most companies however see this environment aspect as a way to pocket money and evoke an emotional response in customers. Airtel being an exception did offer monetary incentive to people discontinuing paper statements in the form of a special offer.

However correct me if i am wrong ICICI bank and HDFC Bank did not offer any incentive to discontinue paper statements. They would rather pocket the money saved rather than share it with the consumer.

The money saved is substantial for most institutions, email statements cost virtually nothing to institutes. So the next time someone pushes paperless statements in your face, ask the bank how much money its saving on you and ask them to either give it to you in kind or donate it in your name.

2 Responses to “Go paperless with statements ! Do companies really care now ?”

  1. Abhishek Says:

    I don’t know why this is a bad idea. When I used to get 20 rupee bills by courier, I am stunned. It would have cost airtel that much to send me the bill. The cost of paper is going up day by day, just like the cost of fuel. I think it’s better for them to ask consumers whether they would like to discontinue the paper bill rather than charge them an additional billing charges that will eventually crawl in.

  2. WiseTechie Says:

    Well the surprise is that they cant charge you for bills, its your right as a consumer ! I am all for electronic bills, but i want some of the green saved to be passed my way. MTNL does offer an incentive to those who choose not to receive bills, if a Govt. company can do it, why not Airtel ?

    Banks must send a statement to the customer under RBI guidelines or get a passbook system which costs them more manhours and an extra emplyee and equipment at each branch (my relationship manager told me that passbooks are terribly expensive for the bank to maintain), and cell companies must send statements under TRAI/DOT guidelines. And all this has to be free of cost.

    Airtel told me they no longer send bills <100 , dunno is the CC was sure about this.

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