With its announcement of a paperless ATM solution, Citibank becomes the other U.S. bank to implement e-receipts, following first mover Wells Fargo's initiative.
Citi's new option, currently available on all of its branch ATMs, eliminates the need for paper receipts and provides an easy way to track ATM transactions, the bank said in a announcement of the new program.
"We know that each encounter a customer has with Citibank must be first-rate," said Michelle Peluso, global consumer chief marketing and Internet officer for Citigroup. "As consumers increasingly gravitate online to manage their accounts, we continue to listen and evolve our digital services. The option to have your ATM transaction record emailed gives our customers an easy way to track their day-to-day finances without having to keep track of individual paper receipts."
Customers who make deposits and withdrawals through Citibank's branch ATMs will find the new option on the transaction record screen, where they will be offered four options:
- Receipt emailed to a personal email address
- Receipt printed with copy of check(s), if a check deposit was made
- Receipt printed without copy of check(s)
- No receipt
"Along with the convenience that the electronic receipt provides, we are conscious of those customers that want to cut down on paper use," said Stephen Troutner, Citi's head of branch network and banking products for U.S. consumer banking. "Citi is always looking for ways to reduce our carbon footprint and to contribute to our environmental sustainability initiatives. If half of our customers chose to have their ATM statements emailed to them, we estimate a savings of 31,000 pounds of paper a year."
For more on this topic, visit the bank automation research center.