Consumers Know the Truth About Paperless Billing

We've all gotten them - those appeals from utilities, cell phone companies, insurers, and just about anyone else who sends paper bills, statements, or other documents to their customers. They want us to convert to paperless communication and they tell us it will be more convenient and better for the environment. Environmental stewardship and concern about our hectic lives is commendable, but is that what going paperless is all about?

Most consumers would say no.

Besides the frequently touted benefits, shifting to paperless billing reduces the company’s expenditures for paper, printing, and postage. When customers go paperless, companies can channel savings into other areas of the business, potentially enhancing overall profitability. So, as much as going digital appears to be a part of their corporate social responsibility, paperless documents are more about the bottom line. The companies know it, and so do their customers.

Is it Really that Convenient?

While choosing to receive electronic bills may seem like the optimal choice, it's not all sunshine and roses. Several drawbacks are associated with opting into e-bills from multiple companies. Converting one bill to paperless might be manageable, but each organization has its own way of presenting electronic documents. Consumers who aim for an entirely paperless experience subject themselves to challenges that can make document retrieval and bill payment a struggle.

The Multiple Platform Hassle

When you opt for paperless billing from multiple companies, you're signing up to navigate multiple websites or apps each month. Each site has its unique user interface, and you'll need to remember your login credentials for each one. This fragmentation is cumbersome and may not be a timesaver.

The results of a recent study indicate that 29% of adults experience stress and anxiety while handling bill payments. 52% pinpoint the primary source of their bill-related discomfort as the struggle to recall login information. Is the "convenience" of electronic billing worth the extra stress? It depends on the individual.

Internet Time-Wasters

Measures like two-factor authentication, meant to protect us from identity theft and fraud, can make online document access even less convenient. If you have cleared browser cookies or changed devices since your last access, many sites require you to re-establish your identity via authorization codes sent to your phone. Having to complete this extra step for each of the twelve bills you need to pay can be annoying, even if it is for your own good.

Forgetting a password is even worse. Can you remember how you answered the security questions two years ago? Are you willing to wait while the forgotten password routine resets your access? Will you remember that new password next time? Did your unsuccessful login attempts lock you out of your account? With lots of biller site passwords to remember, it is easy to forget one.

As you access more biller-hosted sites, you increase your chance of encountering periodic website policy updates or end-user license agreements (EULAs) which you must accept to continue using the site. The lengthy documents can be time-consuming to download and difficult to understand. A recent document from one website I use was 125 pages of legalese!

If your internet connection is spotty, slow page-loading can be super annoying when all you wanted to do was jump online and pay your bills.

Risk of Missing or Ignoring Billing Emails

One advantage cited by consumers who prefer paper bills is they offer an organized, tangible way of reminding them about due dates. Compare this to notification emails that can get lost in your inbox, labelled as spam, or forgotten. Ignored or missed emails could lead to late payments and fees, affecting your credit score.

Most people do not have a sure-fire way to ensure they never miss an electronic bill payment reminder. Many people experience going on vacation for a week only to return to an overflowing in-box. You might easily overlook one of those important billing notices. With companies charging as much as $35 for a delinquent payment (and more for a second infraction), it only takes a couple of late fee incidents to make one wonder if relying on biller-hosted paperless systems is worth it.

The Burden of Paperless Bills

Electronic bills still need to be stored and managed, which can be a weighty task. Downloading, organizing, and ensuring the safety of these documents is time-consuming and can be stressful where security is concerned.

Many biller sites keep only 12 months of bill and payment history. Unless you download and save bills yourself, you may be out of luck if you need information to prepare your tax return, for example. But downloading PDF images from biller websites often requires lots of manual effort. Many sites name the downloads all the same. You'll need to invent a recognizable file name and set up folders to store this information if you ever intend to find the files again.

A Convenient Paperless Billing Alternative

Thankfully, consumers can choose a better way to benefit from paperless communications. They are not limited to the take-it-or-leave-it options the billers offer. Enjoy the benefits of convenience and environmental sensitivity without overwhelming yourself with concerns of missed alerts and the hassles of navigating various platforms.

Consolidated bills from Cubby Paperless stands as an efficient solution to this dilemma. This service gathers all your bills from various companies and brings them together, making it easier for you to keep track of everything.

• Save time and lessen the confusion that comes from managing multiple accounts on different sites. Your bills are all delivered from one source, eliminating the need for separate logins and passwords.
• Because Cubby is a single consolidated site, you have less chance of missing a bill. This mitigates the risk of late fees associated with forgetting a due date in the chaos of receiving multiple separate bills.

Is the Convenience Overrated?

It's a valid question to ask. Paperless billing is not as convenient as companies make it out to be. Companies certainly market electronic billing as the more expedient, contemporary solution. But as we've seen, some of that perceived convenience may diminish as consumers deal with multiple billers.

To access e-bills, you must remember website addresses and login credentials of each service provider's portal and be aware of each company's payment due dates. With the 12-14 monthly bills most consumers receive, that could be a memory exercise quite contrary to the convenience narrative that's often peddled. 

Moreover, viewing your electronic documents involves being proactive to log in and check them. E-bills require you to take the initiative, which you may avoid if logging into all those billing portals is too cumbersome.

While the allure of a paperless life may be tempting, it can’t be denied that, overall, traditional paperless billing environments are not as convenient as the companies portray.