Well if you ask me, banks should STOP pestering about faxing documents and instead, here's what REALLY needed by banks to get a hard copy if they want. Fax machines run on thermal paper, they phase out overtime but computer printed letters are far better. In fact here's why the fax machine should be virtually ruled out... because these low-tech stuff are here!
1.) You yourself making a personal appearance. To be honest, I would rather make a personal appearance than fax my work. True I have to get out of my house but that's okay, I simply do email as an extension but nothing beats the customer delivering their transaction papers and being there in person. I really love companies that insist I go there to verify things. That shows they are trustworthy than asking me to fax which is obsolete.
2.) Express mail. While the fax machine is obsolete, express mail won't. I personally like the express mail as the best way of sending business transactions or orders. My reason is that express mail is pretty secure, much more secure than fax. True I really appreciate anything that comes by mail and mail sending. I really would say this is more secure than fax machines and two, you get a hard copy that's better printed.
As said, do away with the fax machines and stick to these two methods for customer transactions. You are all far better with customer satisfaction with these!