New Bank Account
Friday, October 24th, 2008
So with our move to a new city, we had to find a new bank. It was just getting to be a huge problem with the closest branch being 4 hours away (one-way). With the banking sector in the state it is in, I was very careful as to where I was willing to put my money. After much debate, we opened an account at Citizens Bank. They are one of the larger banks in the Philly region.
This is a green blog, so why am I telling you where I opened a bank account? The reason is because they have a new feature for their checking account that I wanted to talk about. The name is called Green$ense. Green$ense, to me, is a type of rewards program. You can earn up to $120 a year, depending on the number of non-paper payments you make.
So I was trying to figure out what makes it “green”. Most of it you can do with any account and I’ve already been doing it. They require you to do eStatements, so no paper is being generated to mail you a monthly statement. You do not earn rewards on paper checks, again to try to reduce the amount of paper. They provide online bill pay, again eliminating the paper. That seems easy enough and something you can probably accomplish with just about any account. The one thing different that they are doing with this type of account, which I’m not aware of another bank doing, is to give you a debit card that is made of recycled plastic. They will also send you a monthly email with green tips and your positive environmental impact by doing so much electronically, instead of using paper. I haven’t gotten the email yet, so I don’t know how good the information is, but I’m hopeful.
While Citizens is marketing this with the green spin, I’m sure it is saving them a ton of money in not having to handle the paper. Truly, most of this you can do with any bank and I encourage it (if you haven’t already). Get your statement emailed to you. Take advantage of online bill pay. The less paper you use, the better.
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