Here’s How You Can Switch To Green Banking
It makes sense to contribute in your way towards Mother Earth. And that- has a lot to do with how your bank. After all, banks are well aware of global warming and climate changes on several customers. If you’re concerned about the environment, which is quite natural, then you can do wonders simply via your banking choices.
Environmental sustainability by banks has now given a boost to the concept of ‘green banking.’ By utilizing this, you can execute the idea of promoting environmentally friendly modes and reducing carbon footprints. As a result, banks, industries, and the economy, in general, are likely to benefit in more ways than one. For added ideas, you can take help from the following banking tips to save your planet.
Take The ‘Paperless’ Route
Using less paper means reducing unnecessary clutter around the house and definitely, mailbox. Paperless is now the chosen way, as you can save the e-statements with ease. That’s because you get them in the form of text messages and emails that you can generate from ATMs. While it’s true that having evidence of your transaction always helps, but that doesn’t necessarily imply it has to be a piece of paper.
Besides, using paper statement fees means it’ll cost you a certain amount (no matter how minimal!), unlike the paperless route. Therefore, you can take a fine print of the statement anytime you feel you need one.
Automate Your Savings
Exactly how you automate your savings via split-deposit by a certain portion of your pay-check goes inside the high-yield savings account, you can do the same for the environment by automating it. Several organizations plant a sapling every time someone makes a debit card transaction for those who opt for services like ‘Plant your Change’.
This is indeed a smart way to saving Mother Earth, exactly how money is saved. However, it’s preferable to confirm with the bank or the concerned institution that you fall under FDIC limits and guidelines since customers should have their FDIC insurance first before proceeding.
Take Recourse To Smart Technology
Every time you take a trip to the bank, either you lose your vital energy or make way for carbon emissions to the environment! Now try using the mobile or some remote deposit capture that would help you deposit money via checks in the bank accounts. Don’t forget to check up with the bank beforehand when it comes to this deposit. If that’s allowed, then seek the details about limits on the exact amount that you can deposit or funds allowed. Mobile deposits becoming increasingly popular these days for stay-at-home orders prevail in many sections of the world. It’s not only hassle-free but a great time-saver too!
Try Different Payment Modes
There are equivalent services that can help you make your payment electronically from your account to a person or an organization, as per the need.
This decreases the requirement for resorting to paper checks from your account. Often online bill payment can also result in paper checks getting mailed out. But you need to ensure that the method is a paperless one.
Choose A Bank That Emphasizes On Environment Protection
Thankfully some banks focus on going green and rendering adequate protection to the environment. Few online banks have also tied up with national solar product providers that look into solar projects’ funding.
As a result, such endeavors are witnessing a daily increase. One of the prime examples is Bank of America, the second-largest in the US, based on total assets. Earlier this year, it became carbon neutral.
Try Out Impact Investing
As per Bank of America, investing via environmental or social impact is impact investing. If seen carefully, many retail customers have harped on how social impact has helped them make effective investment decisions and choices.
This is based on the Fidelity research customer survey that was conducted this year in January. With Fidelity, you can look for environmental, social, and governance or ESG ETFs (exchange-traded funds) on the website.
If you are skeptical about where to invest your money, green banks and other paperless options are welcome changes to help save the environment. For additional options, talking to your financial advisor would be a great option too.
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