PSA: My credit union in Boise just started charging a $5 monthly fee for paper statements

I got the notice in the mail last week, and it made me look back at my old bank statements. Three years ago, my old bank did the same thing, and I switched to this credit union to avoid fees. Now they are doing it too. I guess the push to get everyone online is real. Has your bank or credit union started charging for paper statements yet?

3 comments

3 Comments

holly_reed551mo ago

Check your online account settings right now. I had to dig through three menus to find the switch for paperless statements after my last fee notice. They usually hide the option so you just pay the five bucks. If you can't find it, call them and ask to be switched over. It takes two minutes and they backdate the change so you don't get charged next month.

jason_lewis31mo ago

Honestly, I don't blame them for charging. Printing and mailing all that paper is a real cost, and most people don't need it. My time is worth more than digging through a filing cabinet. I switched to paperless years ago and it's just easier. It's not some evil plot, it's just how things are going.

the_wendy1mo ago

I saw a news article last week that said over 60% of banks now charge for paper statements. It's not just the big ones either, local credit unions are doing it to cut costs. The piece quoted a bank manager who said printing and postage is their third biggest expense after staff and rent. They're basically forcing the switch to save money, which feels pretty cheap after years of calling us "members.