Bank of America has made it clear that it takes sustainability serious. The bank has put up $20 billion to invest in green ventures. And now, the bank is taking electronic banking, which reduces paper waste, a step further by rewarding customers who reduce their paper use with a chance to win a hybrid or cash.

Customers can enter the Bank Better, Live Greener Sweepstakes up to 16 times by:

• enrolling in online banking
• paying up to five bills using bill-pay
• receiving e-bills on up to five accounts
• stopping paper statement by mail on up to five accounts

The grand prize winner has the choice of hybrids -- a Saturn Aura or a Saturn Vue -- and five first-place winners get $10,000 in cash.

Paperless statements and online bill-pay have been viewed as a convenience for banking customers for quite awhile now, but less paper means fewer pages manufactured, transported and trashed. It's also a good move financially for the bank: Reducing the man hours needed to produce monthly statements and mail them out is a significant savings for the bank.

Image — Bank of America