25 - The Switch to e-Statements: Faster, Safer, and Simpler

In our Season 1 finale, we’re focusing on a simple switch that provides a massive upgrade to your security and convenience: e-Statements. Join Daniel and Shanna as they break down why moving away from the paper trail is the fastest and safest way to handle your bank records. We’ll walk you through our easy 4-step enrollment process and explain how immediate digital access puts you in total control. Plus, stick around for a special announcement about the launch of Season 2 coming next week! 

Make the Switch to eStatements!

Note: Must be enrolled in Online Banking prior to enrolling in eStatements.
If you’re not enrolled, you can visit www.firstcenturybank.com and click on Enroll in Online Banking

STEP 1: Login to Online Banking
STEP 2: Select the Account you wish to enroll
STEP 3: Select “Estatements SSO”
STEP 4: Follow all prompts to complete Enrollment

Tip: If you have multiple accounts, repeat Steps 2-4 for each account you wish to enroll.

Is your sensitive financial data sitting in an unsecured mailbox? Switching to e-Statements is one of the easiest ways to protect yourself from identity theft. Moving your records from the street into our high-security digital vault provides faster access, clears the clutter, and keeps your information safe. 

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Transcript

25 | The Switch to e-Statements

00:00:00 Shanna Browning: Hey, Daniel, have you ever had that feeling where you're just kind of like, waiting for a piece of mail and you're maybe doing your taxes and it's an important document or a bank statement, and you just keep finding yourself checking that mailbox every single day.

00:00:14 Daniel Hill: Oh, absolutely. And when the mail finally arrives, it's already days old. It's been sitting in a truck, then a sorting facility, and then potentially sitting in your mailbox for hours where anyone walking by could see it.

00:00:29 Shanna Browning: Absolutely. And it feels a bit outdated when you think about it, right? We live in a world where we just expect information to just be instant, but we still rely on a paper trail for the most sensitive things, which is our financial data.

00:00:44 Daniel Hill: Today we're going to talk about how to close that gap. We're discussing a tool that gives you immediate access to your information while significantly increasing your security. We're talking about E-statements. Welcome back to the final episode of season one of Making Sense of Your Cents. I'm Daniel Hill.

00:01:14 Shanna Browning: And I'm Shanna Browning, and we really have covered a lot of ground this season, from credit scores to mortgages to budgeting, savings, all that good stuff. And today we want to focus on really a simple switch that can have a massive impact on your daily financial management, moving from paper statements to E-statements.

00:01:35 Daniel Hill: And Shanna, this really isn't about being trendy. It's about being efficient and secure. We want you, our customers, to have your information the moment it's ready on your terms, without the vulnerabilities of the traditional mail system.

00:01:54 Shanna Browning: I agree, Daniel. I mean, it's it's a good financial secure way to get your your mail. So let's start with the basics. Some people might still be a little hesitant because they like having that physical piece of paper in their hand. So tell me, what is an E-statement?

00:02:09 Daniel Hill: Well, an E-statement is simply a digital version of your monthly bank statement. It looks identical to the one you get in the mail. But instead of being printed and shipped, it's delivered as a secure PDF through our online banking portal.

00:02:26 Shanna Browning: And there's that word secure. And the why behind the switch really comes down to control. So here at First century Bank, we believe our customers deserve immediate access to their accounts, to their money. You shouldn't have to wait on a mail carrier to know where you stand financially.

00:02:42 Daniel Hill: That's a great point. With E-statements, the moment the statement cycle ends, your document is available. There's no three to five day delay for processing and delivering. It's about having your data when you need it, not when the mail arrives.

00:02:58 Shanna Browning: Such great points and it also removes barriers. You don't have to worry about being away on vacation and having your statement sitting in an overflowing mailbox, or having get lost in a pile of junk mail on the kitchen table. It's always exactly where you expect it to be inside your secure banking app or web portal.

00:03:20 Daniel Hill: Now, Shanna, as the Security Officer, this is where I get really, really excited.

00:03:27 Shanna Browning: I know it is.

00:03:27 Daniel Hill: I often hear people say that they feel safer with a paper statement, but the data actually shows the exact opposite.

00:03:37 Shanna Browning: Well, and I think that's a common misconception. People think if they can touch it, it's secure. It's in my hands. But paper leaves a trail.

00:03:45 Daniel Hill: A very dangerous trail. Think about the life cycle of a paper statement. It contains your name, address, account number, and a detailed list of your spending habits. If that envelope is stolen from your mailbox, which happens way more than people realize. A criminal has everything they need to start a sophisticated identity theft attempt.

00:04:10 Shanna Browning: And that's really scary when you think about that. All that information. And then even once inside your house, if you don't shred it properly before throwing it away, it's still a risk.

00:04:20 Daniel Hill: Exactly. E-statements eliminate that physical risk. Your information is never sitting in an unlocked mailbox. Instead, it's stored behind the bank's multi-layered security, including the multi-factor authentication MFA that we talked about in Episode 9. To see your statement, you have to be you.

00:04:43 Shanna Browning: So really, by going digital, you're essentially moving your most sensitive data from a metal box sitting on the street into really a high security digital vault.

00:04:54 Daniel Hill: That's a perfect way to put it. It's a significantly more secure way to handle your financial records.

00:05:01 Shanna Browning: So we've talked about, obviously, the speed of getting that to your own mailbox inbox and the security. But let's talk about the really pure convenience of it. If you're applying for a loan or a mortgage, what's the first thing your lender is going to ask.

00:05:15 Shanna Browning: For the last three.

00:05:17 Daniel Hill: Months of bank statements?

00:05:18 Shanna Browning: That's right, that's right. And if you have papers and statements now you're hunting through your files, you're scanning pages or you're bringing it into the branch for us to print it for you. If you have e-statements, you log in, you download the PDF and then you email it to your lender in seconds, seconds. It saves so much time and stress during those big life events.

00:05:42 Daniel Hill: And you know, this isn't just for individuals. Let's talk to our business customers for a minute. There's a huge benefit for our business customers as well. Business owners can sign up for E-statements too, which makes bookkeeping and tax preparation so much smoother. Each authorized signer on a business account can opt in to have that same immediate, secure access.

00:06:06 Shanna Browning: And we're doing that right now because we're in tax season, right? So we're we're doing that for our customers now. And they're they're moving them over and we're telling them, hey, you can go get it, send it to your accountant. So it really simplifies the clutter of running a business or a house. You have a built in digital archive. Most banks, including First Century Bank, keep several years of statements available online to, you know, more of those shoeboxes full of receipts or the filing cabinets that's taken up all your space.

00:06:36 Daniel Hill: So if someone is listening and ready to make their life a little simpler and a lot more secure, how do they go about doing it?

00:06:45 Shanna Browning: Well, we've made that process incredibly straightforward. We have a four step guide that our relationship bankers use to help customers every day.

00:06:55 Daniel Hill: Walk us through it. Shanna, what's the very first requirement.

00:06:59 Shanna Browning: Well, the most important thing you have to know is you've got to be enrolled in online banking before you can sign up for E-statements. So if you aren't enrolled yet and you already have an account with us at First Century Bank, you can enroll in online banking by visiting our website firstcenturybank .com and all you do is click the Enroll in Online Banking button found on our home page.

00:07:21 Daniel Hill: Once you're in online banking, what are the four steps so easy?

00:07:26 Shanna Browning: Four steps. Log in to your online banking account via our website or our own mobile app. Step two select the specific account you want to enroll. So if you have multiple accounts, you have to do this for each one.

00:07:40 Shanna Browning: Each one, right? Okay. Right.

00:07:41 Shanna Browning: Step three you got to look for the option that's labeled E-statements SSO. Step four you follow the on screen prompts to complete your enrollment.

00:07:52 Shanna Browning: Wow. I know .

00:07:54 Daniel Hill: That is so super simple. And if you're at a branch and don't have your mobile device with you, or you just prefer us to handle it, we have a simple form that you can sign that gives us permission to opt you in. We really want to make it as easy as possible for you to get that immediate access. This really has been a great session on a topic that really rounds out our season on financial management. And this brings us to the final actionable tip of the season.

00:08:27 Shanna Browning: So your action item for this week is called the Digital Switch.

00:08:32 Daniel Hill: We want you to take five minutes today.

00:08:35 Shanna Browning: Five minutes just five.

00:08:37 Daniel Hill: And it may not even take that long.

00:08:38 Shanna Browning: Right.

00:08:39 Daniel Hill: And we want you to move one account or all your accounts to E-statements. Log in to your online banking. Follow those four steps that Shanna just listed. We'll also put them in our show notes so they'll be there available and experience the difference in the security for yourself.

00:08:57 Shanna Browning: And then notice how it feels next month when you don't have to wait for that mail. Notice the peace of mind that you're having, knowing that your data isn't sitting in a mailbox.

00:09:09 Daniel Hill: It's a small change, but it provides a big upgrade to your security and your convenience. And if you have any trouble, you can give us a call at our toll free number 800-201-6967, and our team is ready to help you simplify your life.

00:09:27 Shanna Browning: It's always our goal to help you simplify your life. And Daniel, I cannot believe, but that is all the time we have for this week and for this entire first season.

00:09:37 Daniel Hill: It really has flown by. We want to thank you all so much for your trust and for making us a part of your weekly routine. If you haven't already, please take a moment to subscribe or follow. Making sense of your sense on your favorite podcast app.

00:09:53 Shanna Browning: And even though this season is wrapping up, we're still here for you. We're not going anywhere. So if you have any financial topics you're curious about or questions that you just want us to help you address, please send them to podcast@fcbtn.com.

00:10:12 Daniel Hill: Now, Shanna, just because season one is over doesn't mean we're going away. We're so excited to announce that we'll be launching Season Two starting next week.

00:10:24 Shanna Browning: Woo hoo!

00:10:25 Shanna Browning: Season Two! That's right. We'll be right back in your feed with more of the same jargon free trips and really very practical advice to help you navigate your financial life with confidence.

00:10:36 Daniel Hill: Thank you for an incredible season. Now go out and make some sense of your cents.