Citibank launches electronic ATM receipts

Stocks and Financial Services Press Releases Wednesday September 26, 2012 09:21
New York--26 Sep--Asian Banker

New York, September 19th 2012 - As part of Citibank's efforts to simplify the banking experience for customers, the bank announced today a new paperless solution: electronic ATM receipts delivered to a designated personal email account.

This new option, currently available on all Citibank branch ATMs, eliminates the need for paper receipts and provides an easy way to track ATM transactions.

"We constantly listen to our customers and want to provide them with products and services that respond to their evolving needs," said Stephen Troutner, Citi's Head of Branch Network and Banking Products for U.S. Consumer Banking. "Making sure our customers get the most out of their banking experience is important to us, and providing the option to have their ATM receipts emailed allows them to reduce paper clutter, save time and help the environment."

Customers who make deposits and withdrawals through Citibank's branch ATMs will find the new option on the transaction record screen. Customers will be given the following options:
  • Receipt emailed to a personal email address
  • Receipt printed with a copy of a check(s) if a check deposit was made
  • Receipt printed without a copy of the check(s)
  • No receipt

The electronic receipt option is an example of how Citi is responding to shifting customer behavior to drive innovations in their digital offerings. Just recently, Citi was recognized for its efforts to be the world's premier digital bank when Citibank Online received the top ranking in Forrester Research's 2012 U.S. Bank Digital Sales Ranking report, an annual ranking of the digital sales offerings of six major U.S. banks.

"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 their ATM transaction records emailed gives our customers an easy way to track their day-to-day finances without having to keep track of individual paper receipts."

Environmental Benefits

Nearly 10 million trees, approximately 250 million gallons of oil, more than 1.2 billion gallons of water and around 1.5 billion gallons of trash are generated and consumed in the production of 640,000 tons of receipt paper used in the United States every year.1

"Along with the convenience that the electronic receipt provides, we are conscious of those customers who want to cut down on paper use," said Troutner. "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." (September 26 2012)--

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