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Online banking and investing have done wonders for making money management easier and more accessible for consumers, but they've also helped out banks and other financial institutions cut costs.

It may not sound like a huge deal, but a company can save a boatload of money by not mailing thousands of letters, statements and forms to its members. Paper itself doesn't sound expensive, but when you consider the amount of mail a bank sends — not to mention the cost in postage — having its members go paperless can significantly help the bottom line.

In order to encourage investors to go paperless, Vanguard is passing along the savings.

No more maintenance fees. If you switch to "e-delivery" of your statements, reports, and prospectuses, Vanguard will waive the $20 annual account service fee assessed on each fund in accounts with balances below $10,000.

It absolutely makes sense, and you have to applaud the company for waiving the fee.

It's not like you can't have a physical copy of your statement if you want it — you can just print it out!

I've switched to e-delivery. Have you?