Bank of Valletta will be switching from printed statements to electronic statements from 30th June 2020, it announced today.
In its drive to reduce the use of paper and the negative impact on the environment, the bank will discontinue sending paper statements by mail to Internet Banking subscribers, who will be able to view and access all statements related to their current, savings, fixed term deposit, loan and credit card accounts, as well as their statement of fees, online.
“The Bank on a yearly basis generates over 1.3 million statements in paper form, amounting to circa 2.5 million sheets of paper and 1.3 million envelopes. This goes against our ethos to be a greener and more eco-friendly bank,” said Ernest Agius, Chief Operations Officer.
“Over the past year we managed to reduce around 50,000kg of CO2 emissions through other eco-friendly initiatives. This year, we are also focusing on our operational processes and identifying areas where we can further limit the impact on our environment. Our online tools provide the Bank and our customers with the opportunity to make the switch towards a cleaner, secure and efficient form of banking.”
Through BOV Internet Banking, customers can access, view, retrieve and download their statements (via ‘view statement images’). When a paper statement is necessary, customers can either print it themselves or order an official statement through internet banking. Paper statements sent by post will be mailed against a charge.
The bank said it estimates it will be saving over one million sheets of paper and 500,000 envelopes annually, saving trees as well as mitigating the environmental impact from use of paper, namely the carbon emissions required to produce, print and deliver paper statements.
For more information get in touch on [email protected], 2275 3500 or 2131 2020.
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