NACHA/PayItGreen Alliance™
Bank of America is a proud member of the PayItGreen Alliance™, a coalition of financial services companies led by NACHA, The Electronic Payments Association® that educates consumers and businesses about the positive environmental impact of choosing electronic bills, statements and payments over paper. The Alliance builds online tools and resources, engages vertical markets, and increases awareness through various media channels. The effort provides educational materials for financial institutions and consumer billing companies. Alliance members promote existing electronic services to their own employees. And, a consumer campaign promotes how individuals can positively affect the environment by choosing electronic payments, bills and statements and by using direct deposit.
According to NACHA, the cost of postage and check stock can add up to more than $100 per year, which, essentially, pays for wasted paper. These financial and environmental costs can be dramatically reduced by making payments electronically.
Quick Facts
- The average household receives about 19 bills and statements and makes about seven paper payments each month.
- The average consumer saves 2.5 minutes per bill when paying electronically instead of with a check.
