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Most banks provide free bank statements online or mail paper statements to your home. You'll need to provide a bank statement when you apply for a loan, file taxes, or file for divorce.

If you would prefer to minimize your paper trail, Dixon advises opting for online bank statements. Be sure to download your statements as PDFs so you can access them without an internet connection.

The new rule would require people who want to make changes to first verify their identity online or in person.