Not Just Postage: E-Bill Use Stamps out Other Costs
Quittner, Jeremy, American Banker
Byline: Jeremy Quittner
Banks and billers like to talk up how much they've saved in stamps after switching customers to e-statements and e-bills. They may actually be saving more in customer service costs.
People who sign up for electronic bill presentment through online banking are more than twice as likely as those who receive paper bills to use self-service channels, the vendor Fiserv Inc. says. Self-service channels, such as online and mobile banking, are cheaper for the bank to operate than call centers and branches.
Customers receiving electronic bills from their bank were 64% less likely to call a live customer service representative each month than …
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Publication information: Article title: Not Just Postage: E-Bill Use Stamps out Other Costs. Contributors: Quittner, Jeremy - Author. Magazine title: American Banker. Volume: 176. Issue: 132 Publication date: August 25, 2011. Page number: 10. © 2009 SourceMedia, Inc. COPYRIGHT 2011 Gale Group.
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