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Why switch to online bank statements for your business?

Why switch to online bank statements for your business?

Here are four reasons why making the move from paper to online could save you time and money.

Going paperless can offer a range of benefits for your business, including quick access to your transaction history, less time spent filing paperwork and an easier tax time.

1. Instant access

Immediate access to your statements can be useful if you need to:

  • Check details of a transaction
  • Send electronic copies of a statement
  • Free up space in your home or office – CommBank customers can access the past seven years of statements online.

2. Save on fees

Some financial institutions charge a fee for paper statements. If you’re still receiving statements in the mail, think about going paperless before your next statement is posted to save some money.

3. Keep information secure

If you’re storing years of paper statements, you could easily misplace or lose one when moving offices. Switching to e-statements means you securely store them on your bank’s online storage system, and also back them up elsewhere.

4. Make tax time easier

Going paperless can be a smart first step towards simplifying your tax reporting. If you’re a CommBiz or NetBank customer, check out the guide below to get started.

How to get online bank statements1

1 Online statements may not be available for all types of CommBank accounts. This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should consider seeking independent financial advice before making any decision based on this information.