The bank blew past its goal of eliminating half of its voice mail boxes and to date has eliminated about two-thirds. Across the whole bank so far, that's over $8 million in annual savings. Coca-Cola recently made a similar move and only 6 percent of employees chose to keep voice mail.

Like the pay phone and pager before it, voice mail is on its way out.

Shawn Hakl is head of new products for Verizon's business division. Before the digital era, he says more than 80 percent of business lines had voice mail. Now, he estimates only a third of office phones have it.

"Voice mail has lost its appeal primarily because it's very much tied to the notion of the phone and your communication being tethered to a physical thing or a physical location," he says.