- What is an eStatement?
- Why is an eStatement recordkeeping option better than a paper statement?
- How do I select the eStatement recordkeeping option?
- If I don’t choose the eStatement option, can I still have access to the secure 7-year archive?
- What if I want to save my statements for longer than seven years?
1. What is an eStatement?
An eStatement – is your account statement stored as an Adobe* Portable Document Format (PDF) file, and delivered through RBC Royal Bank® Online Banking or RBC Express®. When you select an eStatement you will no longer receive a paper statement in the mail.
2. Why is an eStatement recordkeeping option better than a paper statement?
There are many benefits to having an eStatement including:
- eStatements will be available sooner than paper statements are received in the mail, allowing for faster account reconciliation
- with less paper, you can help reduce environmental impact
- no need to spend time and effort filing paper statements
- statements and cheque image pages are securely archived for 7 years, accessible whenever you need them, through RBC Online Banking® or RBC Express®**
- no need to spend time and effort filing paper statements**
- increased protection as the electronic statement is only accessible via secure sign-in
- avoid the hassle of destroying old paper statements to keep financial information safe
- you can view cheque images for free in Online Banking or RBC Express***
3. How do I select the eStatement recordkeeping option?
As of June 1, 2008, you can pre-select the new eStatement option by speaking with your account manager, visiting your local branch or calling 1-800-769-2520. You will continue to receive your existing paper statement until eStatements are available in September 2008.
As of June 12, 2008, Online Banking clients can sign up for eStatements online.
4. If I don’t choose the eStatement option, can I still have access to the secure 7-year archive?
If you have access to RBC Royal Bank Online Banking or RBC Express, you can view your statement online, regardless of your recordkeeping option (paper or electronic).
Note: If your recordkeeping option is a paper statement, a $2.50 fee will apply to view the statement online. If your recordkeeping option is an eStatement, you can view your statement online for free.***
5. What if I want to save my statements for longer than seven years?
If you need to retain statements for longer than seven years, you have the option of either printing or saving your eStatement to your computer. Alternatively, you can continue receiving a paper statement and file your statement once received.
** Archive will start with statements produced after September 2008. As you continue to receive your statements, we will store them for 7 years.
*** Regular account and service fees may apply. Fees subject to change without notice.
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