If you’re like me, you keep close tabs on your investments. Getting a monthly paper statement of my transactions from CIBC Investor’s Edge was just keeping my shredder humming. So I changed my user preferences and switched to electronic statements.
Are eStatements from Investor’s Edge the Same as the Paper Statements?
Before switching, I did check what an eStatement looks like. After logging in to Investor’s Edge, I clicked on eStatements under the Account Information heading on the left side of the screen.
A quick check showed the electronic statements are identical to the statements I have been receiving in the mail. So I’m comfortable stopping the presses.
Stopping Paper Statements Also Means Stopping Paper Tax Slips, Trade Confirmations and Fee Statements
Of course there’s always a catch. Stopping delivery by mail of the monthly statement also stops delivery by mail of more important documents, such as T 5 and T3 slips for taxes, annual fee statements and trade confirmations.
Read the Electronic Delivery of Documents Terms and Conditions carefully before you decide whether to stop the paper.
CIBC Investor’s Edge Transaction Errors
NOTE: CIBC does warn you that you must dispute any errors in your statement, whether sent by paper or electronically, within 45 days after the statement was released.
To Cancel Monthly Paper Statements from Investor’s Edge
- Sign On to your Investor’s Edge account.
- From the menu on the left side of the screen, click on User Preferences.
- In the Mailing Options section, click on Change Mailing Options.
- For each investment account, select whether you want to receive the statements by mail or online only by clicking on the radio button.
- Click on the Next button.
- If you agree to stop receiving all paper documents from Investor’s Edge, click on the I Agree radio button.
- Click on the Save Changes button.
- Sign Off of Investor’s Edge.
Did you stop delivery of paper statements for an online brokerage or a bank account? Were there any unexpected drawbacks? Please share your experiences with a comment.