The following appears on m.theglobeandmail.com
Before the introduction of electronic billing, paper bills and statements helped people navigate their finances.
They told you how much you owed and when to pay. They helped to keep records and they were useful whenever there was a disagreement. Most people heard from their telephone or hydro company only when the bills came in the mail.
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But now profit margins are thinner. Discouraging customers from receiving paper bills is a handy way to save money. It’s smart business.
Many Canadians quickly embraced electronic bill payment. But after almost 20 years, more than 90 per cent of online Canadians still resist giving up paper bills. Because paper has more value than just showing the amount due. Paper bills represent control. When using electronic banking, people feel that they have less control over their financial information than they do when the information is received on paper. That’s because you can touch it, hold on to it and keep it for reference for as long as you want. The paper bill is a form of protection that can call banks and billing organizations to act on your behalf.
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