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A paperless statement is an electronic version of your monthly statement that you can view, download, print and/or save.
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CWB is introducing paperless statements as part of the Canadian financial industry’s move to the Cheque Image Clearing Process (please refer to the Cheque Image FAQ for more information). Paperless statements offer you even more convenience and security with benefits such as less paper and anytime/anywhere Internet access in a secure environment.
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Personal banking paperless and existing paper statements will run at the same time for a three-month period beginning March 2008. As of June 2008, all personal banking statements will default to a paperless statement, unless otherwise requested (See Question #7). As of June 2008, all personal statements will have a new monthly statement cut-off date (the 8th of each month).
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- Statements are in Adobe PDF format, a readily available free software.
- Paperless statements have a new look and are easier to read.
- Convenience - accessible anytime/anywhere in a secure environment.
- View, download, print and/or save your statement.
- Access up to seven years of archived paperless statements via CWBdirect. The seven-year period starts with the first produced paperless statement.
- No clutter, no filing, no shredding, save paper and help protect the environment.
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You require CWBdirect Internet Banking in order to view both cheque images and paperless statements. CWBdirect is free for all personal bank accounts. See Question 6 for the benefits of CWBdirect.
In addition, a new “view only” option for CWBdirect Internet Banking access is available to all clients for no fee. This option will not allow any transactions, but only the retrieval of cheque images, paperless statements and transaction history that can be viewed and/or downloaded; if you have 'view only' capability and you access In-Touch Telephone Banking®, you will only be able to access your transaction history and account balances. No other features of CWBdirect Internet Banking will be available with “view only”.
If you still want to receive a printed statement and printed images of your cheques, you can do so; however a small fee may apply depending upon your account type. See Question #7 for more.
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There are many benefits for you including:
- No charge for personal CWBdirect Internet Banking; business clients may pay a small fee depending upon the banking package they have.
- View, download, print and/or save your statement.
- Download account transactions into your Accounting Software - Quicken® (2003 onwards), QuickBooks®, Microsoft® Money, Simply Accounting®, PDF or comma delimited text file.
- Access to CWBdirect Internet Banking 24 hours a day, 7 days a week through any Internet-connected computer.
- View images of your monthly statements including images of all cheques for up to seven years.
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Yes. If you want a paper statement, you can print it from CWBdirect or you can ask your branch to set up your account so that a monthly statement is automatically printed. You will be mailed this printed copy of your statement and a small fee may apply depending upon the type of account you have. These statements will be printed and mailed by a third-party service provider.
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You have the ability to access up to seven years of paperless statements via CWBdirect. The seven-year period starts with the first paperless statement produced.
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Yes, the paperless statements are also redesigned and easier to read.
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No. However, you can print or archive your monthly statements by saving them to your own computer (see Question 4) before you close your account with Canadian Western Bank. If you choose not to print or archive them, you can always contact us for a copy.
