A bank statement is a document that shows your account activity. One statement shows the activity over a "statement period," which is typically one month.
Banks are required to provide bank statements to customers for checking and savings accounts for any period in which an electronic funds transfer was made. So if you swiped your debit card, made an ATM withdrawal, or paid a bill from your account, you should receive a statement.
What are paper bank statement fees?
For many years, banks would print and mail monthly bank statements to every customer.
In an effort to reduce costs and paper waste, many financial institutions have stopped sending paper statements in favor of electronic statements — or else charging customers a small fee if they still want to receive a physical copy each month.
Electronic statement consent laws
The Electronic Signatures in Global and National Commerce Act, or the E-Sign Act, was signed into law in June 2000. Among its provisions, it requires financial institutions to obtain consumer consent to send electronic records, such as bank statements, as well as the ability to opt-out and receive paper records instead. The business must also clearly state the fee it charges customers for requesting paper records, if there is any.
How much are paper statement fees?
Paper statement fees range from $0 to $5 at most financial institutions, though some will waive the fee if a customer meets certain qualifications.
Here are the paper statement fees at banks with the most branches around the U.S., as well as online banks:
| Bank | Paper statement fee |
| Ally | $0 |
| Associated Bank* | $0 or $4 |
| Axos Bank | $5 |
| Bank of America | $5 |
| Capital One | $0 |
| Citizens Bank* | $0 or $3 |
| Chase Bank | $0 |
| Discover Bank | $0 |
| First Horizon Bank | $2 |
| Fifth Third Bank | $5 |
| KeyBank | $0 |
| PNC Bank | $0 |
| Regions* | $0 or $3 |
| TD Bank* | $0 or $1 |
| Truist Bank* | Up to $3 |
| Umpqua Bank* | $0 or $3 |
| U.S. Bank* | $0 or $2 |
| Wells Fargo | $5 |
| Woodforest National Bank | $3 |
*At these banks, the paper statement fee may vary depending on which checking account you open.
Avoiding paper statement fees
Depending on the bank, you may automatically be enrolled in e-statements but not paper statements or vice-versa.
Speak with a customer service representative or check your online account settings to make sure you aren't paying for paper statements if you don't want to receive them.
With e-statements, otherwise known as paperless statements, you see your transaction history on the bank's website or mobile app. There should be a menu option specifically for statements where you can sort by month.
Benefits of electronic statements
Most banks charge a few dollars per month for paper statements, so opting for paperless statements eliminates this fee.
It's also better for the environment to receive your monthly statement electronically because the bank won't have to print and mail the paper to your home.
Some banks may also offer benefits when you opt for paperless statements. For example, a bank may waive your monthly maintenance fee or offer a cash sign-up bonus.
Paper statement fee FAQs
Can I still receive paper statements without paying a fee?
Some banks will waive the fee for customers who meet certain qualifications, such as age or minimum balance requirements, but it's not common.
Why are banks encouraging customers to switch to electronic statements?
E-statements are better for the environment, more cost-effective for financial institutions, and can offer better protection against identity theft.
How can I ensure the security of my electronic banking statements?
To ensure the security of your electronic banking statement, use unique passwords for all of your accounts, enable two-factor authentication where available, and avoid downloading your e-statements on a public computer.
What should I do if I'm not comfortable with electronic statements?
If you'd rather receive paper statements, ask your bank if there's a way to reduce your banking fee for paper statements. Alternatively, consider printing your e-statements and keeping a file of them at home.
How much do banks typically charge for paper statements?
Banks may charge anywhere from $0 to $5 for paper bank statements.
