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1 billion paper ATM receipts spared

By Marcie Geffner ·
Wednesday, September 25, 2013
Posted: 6 pm ET

One billion. That's how many paperless ATM transactions consumers have completed at Wells Fargo since the bank introduced its paperless option in 2009.

More than 300 million feet, or 63,000 miles, of unused receipt paper could circle the earth more than twice, according to the bank, which has 9,000 branch locations and 12,000 automated teller machines.

Wells Fargo ATMs offer a no-receipt option or an electronic receipt, which allows customers to receive a record of the transaction via email to an online banking inbox or personal email account, or via text to a mobile phone number. These mobile banking options are intended to be convenient and encourage customers to decline the paper receipt. Email and text receipts include the transaction type and location of the ATM, plus the amount, balance, time and date.

Today, people either forgo a receipt or choose an electronic option in 46 percent of ATM transactions that would be eligible for a paper receipt, the bank said.

Avoiding all those paper receipts -- about 475 per minute, according to the bank -- saves the bank money since it doesn't have to supply as much paper to its ATMs.

In a statement, Alicia Moore, head of ATM banking at the San Francisco-based bank, said Wells Fargo was proud to support its customers' green choices and wanted to thank them for joining its effort to conserve resources.

Are you still taking paper ATM receipts?

Follow me on Twitter: @marciegeff.

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Mike frank
October 18, 2013 at 12:57 am

Wells fargo recently forced customers to choose whether they wanted a hardcopy monthly statement like they historically always were allowed to have,or continue to be able to view their accounts online.Now you cant have both.Like blackmail,but i refused to give in to my right to a hardcopy bank statement.They are behaving like first union bank,whose customer service was so appalling when it took over wachovia bank they took the name of that smaller bank.Its just a matter of time before i pull all my money out of wells fargo to a bank that will give mr my monthly hardcopy statement and allow me to view my statement online.