Not Just Postage: E-Bill Use Stamps out Other Costs

By Quittner, Jeremy | American Banker, August 25, 2011 | Go to article overview

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 those receiving paper bills, Fiserv, of Brookfield, Wis., says. Those receiving electronic bills from the biller were 39% less likely to call a representative than those receiving paper.

Instead, they used self-service channels such as online banking. Customers receiving e-bills from a bank made 1.57 self-service visits, compared with 1.37 visits for those getting bills directly from the website of Consolidated Edison Inc., which participated in a yearlong study Fiserv published Monday.

Banks can spend $4 for each call center call, says Nicole Sturgill, research director at TowerGroup.

Fiserv's findings resemble what some top banks have seen. "Our data shows that customers through our online and mobile banking services adopt an array of electronic, alert and information capabilities over time," says Adam Vancini, senior vice president in charge of money movement solutions for the Internet services group at Wells Fargo & Co. of San Francisco. As these customers interact more online, Wells Fargo tends to see other types of electronic engagement, including self-help, Vancini says. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Not Just Postage: E-Bill Use Stamps out Other Costs
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.