Benefits of Current Account E-Statement

Posted on Wednesday, September 11th, 2024 | By IndusInd Bank

With advancements in digital tech and the banking sector, it has become easier and more convenient than ever to manage your finances. One such major digital shift in banking is the rise of electronic statements or e-statements.  

For business owners, a current account e-statement can provide a range of benefits, such as better security, convenience, a sense of environmental protection, and more.

What is a Current Account E-Statement?

First, let’s learn what an e-statement is. 

A current account e-statement is an electronic version of your monthly bank statement. It details all the transactions made through your current account within the specified period.

What is e-statements’ major advantage? They provide a complete record of your account activity in an easy-to-understand format. However, instead of receiving a paper statement by post, you can access your e-statement online through your bank’s website or mobile app.  

Benefits of Current Account E-Statement

Now that you have understood what an e-statement is, let’s look at its benefits:

1. Convenience and Accessibility

E-statements are delivered directly to your email inbox, making them easily accessible anytime, anywhere. You no longer need to wait for postal delivery or visit the bank to collect your statements. 

So, you can download the e-statement and review your transactions on your computer, phone, or tablet anytime. 

2. Eco-Friendly

By opting for e-statements, you can reduce paper usage and contribute to safeguarding the environment. Digital statements help to decrease deforestation and reduce carbon emissions from printing and mailing.

3. Enhanced Security

Your current account e-statement will be password-protected and encrypted. This ensures that your financial information remains secure. It also reduces the risk of identity theft and fraud that may occur with postal services.

In addition, e-statements are sent to your registered email. This can also lower the chances of them being lost or tampered with.

4. Cost-Effective

Some banks may charge fees for printing and posting paper statements. E-statements do not incur such costs and are a cost-effective solution for managing your current account.

5. Easy Record Keeping

With your current account e-statement, you can organise and store your financial records digitally. Such organising can make it easy to manage and retrieve past transactions. 

E-statements also make it easier to search and sort through the financial data within the statement. You will not have to parse through a paper trail for the purpose. 

6. On-time Updates

Your current account e-statement is sent to you as soon as the statement period ends so that you receive your financial summary at the earliest. This helps you stay updated with your current account activity. In case of any discrepancy or unauthorised activity, you can reach out to the bank and promptly resolve the issue.

7. Better Financial Management

E-statements often come with additional features that allow you to manage your account in a better fashion. You might have access to charts and graphs that visually showcase your spending patterns. This can make it easier to track your budget and identify areas to level up your business. 

Also Read: Best Practices to Secure Your Current Account

Conclusion

The benefits of current account e-statements are undeniable. They offer a secure, convenient, eco-friendly, and efficient way to manage your finances. By switching from paper statements, you can enjoy peace of mind knowing that your financial information is safe, while also contributing to a more sustainable future.

With IndusInd Bank, you can get your current account e-statement within minutes. Simply run an online search for ‘IndusInd Bank Current Account e-Statement’ and click on the IndusInd Bank link. Then, enter your account number, the duration, and choose the ‘send via e-mail’ option. You will receive your e-statement via e-mail soon! 

Our current account digital solutions go beyond e-statements. From digital payments solutions like QR, Soundbox, and payment gateways to user-friendly mobile banking apps, we make sure your business banking experience is smooth and hassle-free! 

Open a current account with IndusInd Bank today! 

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.