Many of us are saving for our future. We have Bank Accounts, Mutual Fund Investments, Shares and so on. Whenever we need money from bank, we use transaction slips or a cheque to receive money. You may be using only one or two withdrawal slips or cheque in a month, but remember, everyone is using the same amount of slips every month and it consists of lot of paper work and in turn, consume lots of trees. Trees have direct impact on our climate and local environment and therefore, a precious resource to be used wisely. Have you ever thought of saving trees by not using paper slips for your investments? green and eco friendly banking Green Banking There are many possibilities that you can save trees even though we are investing and transacting money anywhere. All we need is little knowledge about what are all the possibilities? And how we can do it? Here are four simple investment habits following which you can save trees and our environment: Withdrawing Money? Use ATM If you are withdrawing money for yourself or if you are going to use cash, use your ATM card instead of using withdrawal slip or a cheque leaf. Banking Transaction: Almost every bank is providing Online transacting facility now. If you are transacting money between accounts, then use this online facility instead of cheque/DD unless it is mandatory to use. Request your bank to send your Account Statement through email instead of sending it through post or by updating it in passbook. Every bank will send you the Account Statement through post or you need to visit your branch to update your passbook. Instead request for account statement in your email, you will save paper and you can view it anytime in your mail. Mutual Fund Investments: Mutual fund is another investment avenue, here too so many transactions and paper work involved like starting investment, purchase, redemption and so on. Everything needs paper. Instead of using papers, you can use the online transacting facility provided by the mutual funds. Most of the mutual funds are providing this facility now. Next thing you can do is to request the mutual fund company to send your Transaction Report/Account Statement through email instead of sending it through post. Every mutual fund company will send you the Account Statement through post. You may receive it and chances are there to misplace it. If you request for account statement in email, you will save paper and it will be in your inbox forever. Shares: Investing in shares is another common practice among the people. There are many paper transactions involved there too. Most of the broking firms are providing online transaction facility. So you can use it as well. Also, don’t forget to request your broking firm to send your Transaction Report/Account Statement through email instead of sending it through post. Every broking firm will send you the Account Statement through post. They will also send you a post after every transaction. If you request for account statement/transaction report in email, you will save lot of paper. How much it costs? Most of the above stated facilities are provided by free of cost. Even if it involves cost, it will be very minimal and affordable to a normal person. You must visit the bank/mutual fund/broking firm first and give a request for online transaction facility. They will provide you the same within 15 days to 30 days. Once you receive your User Name and Password for Online transaction, you can start doing online transactions immediately. Instead of going to the company/bank, first visit their website, because in some companies, you can request Online Transaction Facility through their website by providing your account details. Is it really useful? Absolutely! First you are saving lot of trees and contributing towards environment protection. Second, you can view your account balance anytime through online gateway. Third, no paper work involved, so less chances for mistakes. We are using papers everywhere. Why to cut tree? When you can transact for free? The author Arul Prakash B, PGDM (Finance), is the Founder of Pushpak Financial Planners (pushpakfinancialplanners.weebly) firm that offers Personal Financial Planning. He can be reached at pushpakfinancialplanners@gmail for any query regarding financial planning
Posted on: Sun, 28 Jul 2013 07:33:13 +0000
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