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An e-statement, short for electronic statement, is a digital version of a traditional paper bank statement. It is provided by banks and financial institutions to their customers as a convenient and eco-friendly alternative to receiving paper statements through postal mail.
Here are some key points about e-statements in banking systems:
- Paperless Convenience
- Security
- Accessibility
- Timeliness
- Storage and Retrieval
- Cost Savings
- Environmental Impact
- Regulatory Compliance
- Customer Preferences
E-statements offer a convenient, secure, and environmentally friendly alternative to traditional paper statements in the banking system. They are becoming increasingly popular among both financial institutions and customers alike.
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