Green banking is one of the buzz words of the moment. Most banks are offering the chance for consumers to go green as far as their banking is concerned.
This green banking has really been a huge focus since the advent of high speed internet and its ability to allow users to perform most of their transactions electronically.
Paperless banking is one of the main points of green banking. Instead of monthly statements users can now bank electronically, receive statements and any sort of information that they are to get from a bank electronically.
Some banks even plant new trees when a new account is opened. Paperless banking means that people no longer receive paper, but also don’t cost the postman the fuel to get to their house and also often don’t have to travel to their bank and use fuel to perform banking related actions.
In the USA some banks are offering 0.25 per cent off their interest rates for people who wish to buy a green automobile such as an electronic or hybrid car. This means that the car is cheaper in real terms and is a fine example of how banks are encouraging the green agenda. Many UK banks push for carbon neutrality through a mix of paperless banking and planting of trees. Many also have environmental policies and refuse to take part in certain transactions if they feel they will damage the environment, for example some banks won’t invest in oil or oil related products.
The green industry as we can see is very popular, as are all the investments relating to it. New modern, green energy types are central to many banks investments at the moment. These energy companies grow at large rates and the investment is there to ensure there is a return and also that these companies have the capital to push their green agenda and help the world.
These are commonly seen in the form of Certificates of Deposit, where a person invests their money for a period of time and the bank then invest it with a green energy company. However, though this may seem like an excellent proposition there is still the risk of the company or ultimately the industry going bust involved, just like with any other form of investment.
Mortgages are also subject to green bonuses and some banks in the USA have offered owners a drop in percentage on their loan if they include certain green features such as insulation, PV solar panels and other features. These mortgage breaks are subject to inspection by a person who will evaluate the energy efficiency of your home.
Banks often give lower percentage loans to people who wish to make their hoes more energy efficient. Loans for new insulation and solar panels are also sometimes subject to lower interest rates.
Author Byline: Just as concerned as the rest of us with green issues, Simon Grant has written this on behalf of Ulster Bank, a provider of internet banking.
For Further Reading:
- Why You Should Be Using Online Banking
- Best Mobile Banking Applications for the iPhone
- Droid is Eco! 5 More Green Android Apps
- Best 5 Online Tool Combos Useful For Freelance Web Designers
- Withings’ iOS-Friendly Blood Pressure Monitor
- Online Milestone – Why You Should Now Take Notice
- Is It Cheaper To Shop Online?
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