Comments on: Banking Is Murder? The Industry’s Nefarious Quest For Paper-Free Finances http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/ Adding a punchline to your bottom line Tue, 07 Oct 2008 05:30:54 +0000 http://wordpress.org/?v=2.6.2 By: The Future of Documents » Blog Archive » Paper usage in the banking industry http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-210811 The Future of Documents » Blog Archive » Paper usage in the banking industry Thu, 18 Sep 2008 13:46:16 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-210811 [...] However, I had a chat yesterday about an Australian bank customer who sees his fax volume actually increasing! For a provocative viewpoint (although disputable) on paper usage in banking, see Banking is murder ? The Industry’s Nefarious Quest for Paper-Free Finances. [...] [...] However, I had a chat yesterday about an Australian bank customer who sees his fax volume actually increasing! For a provocative viewpoint (although disputable) on paper usage in banking, see Banking is murder ? The Industry’s Nefarious Quest for Paper-Free Finances. [...]

]]> By: someone http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-174220 someone Thu, 17 Apr 2008 03:18:43 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-174220 You might be right that banks are pushing paperless for their own cost reduction (which btw is not necessarily a bad thing by itself). I personally am completely paperless because I find it much easier to manage paperless records. All my statements and records are in PDF that I can edit and shuffle like real pages without any hassles (the latest mac os version has this capability inbuilt which is a huge timesaver for me, previously I had to edit them using script). It's easier to store and search, no humungous file folders containing records from decades ago - it's all in a few DVD copies. It's amazing. Maybe the banks should push this benefit instead. You may say that I'm being selfish by using less paper, but I do buy magazines regularly as well as read books, so I'm still helping plant more trees :). You might be right that banks are pushing paperless for their own cost reduction (which btw is not necessarily a bad thing by itself).

I personally am completely paperless because I find it much easier to manage paperless records. All my statements and records are in PDF that I can edit and shuffle like real pages without any hassles (the latest mac os version has this capability inbuilt which is a huge timesaver for me, previously I had to edit them using script). It’s easier to store and search, no humungous file folders containing records from decades ago - it’s all in a few DVD copies. It’s amazing. Maybe the banks should push this benefit instead.

You may say that I’m being selfish by using less paper, but I do buy magazines regularly as well as read books, so I’m still helping plant more trees :).

]]> By: David http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-168868 David Tue, 25 Mar 2008 17:03:39 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-168868 Your argument, while intriguing, is awfully simplistic. What about the fuel used and pollution generated from delivering paper mail or from the delivery of giant rolls of paper stock to companies for printing statements? What about the ink used in printing? Isn't there benefit to reducing all that which you aren't accounting for? What about the landfill space taken up by unnecessary paper waste? Or the chemicals used to bleach paper? Or the fuel used to run the machinery that manufactures paper? Where is your accounting for that? What about customers who want to go paperless but didn't realize that a company offered it? Don't they get value out of this marketing? And regardless of whether a company saves money when customers go paperless -- what is so bad about that if it results in donations to worthy non-profit organizations? Many of these organizations are dependent on corporate programs like these to generate a large portion of their operating funds. Isn't this a better outcome than if the company offered no incentive? It sounds like you work for a paper company. Your view is highly unbalanced. Your argument, while intriguing, is awfully simplistic.

What about the fuel used and pollution generated from delivering paper mail or from the delivery of giant rolls of paper stock to companies for printing statements? What about the ink used in printing? Isn’t there benefit to reducing all that which you aren’t accounting for?

What about the landfill space taken up by unnecessary paper waste? Or the chemicals used to bleach paper? Or the fuel used to run the machinery that manufactures paper? Where is your accounting for that?

What about customers who want to go paperless but didn’t realize that a company offered it? Don’t they get value out of this marketing?

And regardless of whether a company saves money when customers go paperless — what is so bad about that if it results in donations to worthy non-profit organizations? Many of these organizations are dependent on corporate programs like these to generate a large portion of their operating funds. Isn’t this a better outcome than if the company offered no incentive?

It sounds like you work for a paper company. Your view is highly unbalanced.

]]> By: Art http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-158796 Art Tue, 19 Feb 2008 00:32:45 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-158796 I'm always amazed when someone actually falls for a large corporation's marketing ploy. Large companies strive for efficiency in operations since efficiency saves the company a lot of money. Its far more efficient for a company to send out electronic statments that it is to send paper statments; the savings isn't merely paper and postage. Its time, testing, employees, programming effort, printers, depreciation of assets. You can bet they're not concerned with the poor trees when so much efficiency is at stake! I’m always amazed when someone actually falls for a large corporation’s marketing ploy. Large companies strive for efficiency in operations since efficiency saves the company a lot of money. Its far more efficient for a company to send out electronic statments that it is to send paper statments; the savings isn’t merely paper and postage. Its time, testing, employees, programming effort, printers, depreciation of assets. You can bet they’re not concerned with the poor trees when so much efficiency is at stake!

]]> By: Alan Smithee http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-4162 Alan Smithee Tue, 03 Oct 2006 14:47:47 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-4162 If my bank or credit card company really wanted me to go paperless, they would credit my account for the .39 savings they get each month not having to mail out a statement. If my bank or credit card company really wanted me to go paperless, they would credit my account for the .39 savings they get each month not having to mail out a statement.

]]> By: empty spaces http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2897 empty spaces Tue, 12 Sep 2006 20:26:12 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2897 So which timber companies do you recommend? Harvard, which has the largest endowment of any college[$25 billion] recently invested a large chunck of money in timber companies. So which timber companies do you recommend?

Harvard, which has the largest endowment of any college[$25 billion] recently invested a large chunck of money in timber companies.

]]> By: Mighty Bargain Hunter » Roundup for week of 4 September 2006 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2742 Mighty Bargain Hunter » Roundup for week of 4 September 2006 Sat, 09 Sep 2006 17:43:15 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2742 [...] Punny Money with a good piece on paperless statements. [...] [...] Punny Money with a good piece on paperless statements. [...]

]]> By: Tony Alaimo http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2579 Tony Alaimo Tue, 05 Sep 2006 16:12:22 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2579 I agree that banks clearly want to save money as their first objective and could probably care less about saving a tree. By them donating a dollar in your name, they are able to write it off on their BS as goodwill to offset payment of taxes or gains of some sort. I do not think that we should get wreckless however with clearcutting and chopping any tree possible, because I don't think trees are replanted even half the time and with the latest housing boom, houses have been built in almost every available nook and cranny of certain forest areas. I agree that banks clearly want to save money as their first objective and could probably care less about saving a tree. By them donating a dollar in your name, they are able to write it off on their BS as goodwill to offset payment of taxes or gains of some sort. I do not think that we should get wreckless however with clearcutting and chopping any tree possible, because I don’t think trees are replanted even half the time and with the latest housing boom, houses have been built in almost every available nook and cranny of certain forest areas.

]]> By: Mike http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2574 Mike Tue, 05 Sep 2006 14:40:38 +0000 http://www.punny.org/money/banking-is-murder-the-industrys-nefarious-quest-for-paper-free-finances/#comment-2574 Some points of discussion: 1. What about other countries who have metropolitan areas, but are mostly agricultural (China, India)...do they have replanting laws? 2. What about the nutrients that growing trees deplete from the soil? Older trees are still growing, but are in maintenance-mode. This is also an issue when people tout the benefits of E85 fuel. Yeah, you can keep growing corn, but the water table that feeds a majority of the midwest is at risk of drying up in 20-30 years. Add all that extra growth and production and it could be sooner. Some points of discussion:
1. What about other countries who have metropolitan areas, but are mostly agricultural (China, India)…do they have replanting laws?
2. What about the nutrients that growing trees deplete from the soil? Older trees are still growing, but are in maintenance-mode. This is also an issue when people tout the benefits of E85 fuel. Yeah, you can keep growing corn, but the water table that feeds a majority of the midwest is at risk of drying up in 20-30 years. Add all that extra growth and production and it could be sooner.

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