A bank statement is a summary of financial transactions that occurred at a certain institution during a specific time period. For example, a typical bank statement may show your deposits and withdrawals for a certain month. Bank statements allow you to check for errors, watch for suspicious activity, and track your spending. You may also need to submit a bank statement when you apply for a loan or mortgage.
Each statement covers a certain period, such as a financial quarter or one month, but it might not begin on the first day of the month. For instance, your statement might run from September 6 to October 5.
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If you find any inaccuracies on your statement, you should report them to your financial institution. You usually have 60 days from the statement date to dispute any mistakes or errors. Typically, disputes are done in writing, so be sure to provide any supporting documentation you have. Your institution should work with you to resolve the errors and any fraudulent activity.
An official bank statement is typically sent by the bank to the account holder every month, summarizing all the account's transactions during the month. Bank statements contain bank account information, such as account numbers and a detailed list of deposits and withdrawals. "}},"@type": "Question","name": "How Can I Get a Bank Statement?","acceptedAnswer": "@type": "Answer","text": "Typically, you can access your latest bank statements on your financial institution's website. Otherwise, you can request a monthly paper statement be delivered to your home.","@type": "Question","name": "What Is the Difference Between a Bank Statement and a Transaction History?","acceptedAnswer": "@type": "Answer","text": "A transaction history displays all bank account transactions for a set period you choose. Typically, a bank statement only covers one month of transactions and may leave recent or pending transactions out.","@type": "Question","name": "Can Anyone Check My Bank Statement?","acceptedAnswer": "@type": "Answer","text": "No one can check your bank statement without your permission. Unless you give out your account number, banks do not release information regarding your bank statement to unknown third parties without your consent."]}]}] Investing Stocks Bonds ETFs Options and Derivatives Commodities Trading FinTech and Automated Investing Brokers Fundamental Analysis Technical Analysis Markets View All Simulator Login / Portfolio Trade Research My Games Leaderboard Banking Savings Accounts Certificates of Deposit (CDs) Money Market Accounts Checking Accounts View All Personal Finance Budgeting and Saving Personal Loans Insurance Mortgages Credit and Debt Student Loans Taxes Credit Cards Financial Literacy Retirement View All News Markets Companies Earnings CD Rates Mortgage Rates Economy Government Crypto ETFs Personal Finance View All Reviews Best Online Brokers Best Savings Rates Best CD Rates Best Life Insurance Best Personal Loans Best Mortgage Rates Best Money Market Accounts Best Auto Loan Rates Best Credit Repair Companies Best Credit Cards View All Academy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All TradeSearchSearchPlease fill out this field.SearchSearchPlease fill out this field.InvestingInvesting Stocks Bonds ETFs Options and Derivatives Commodities Trading FinTech and Automated Investing Brokers Fundamental Analysis Technical Analysis Markets View All SimulatorSimulator Login / Portfolio Trade Research My Games Leaderboard BankingBanking Savings Accounts Certificates of Deposit (CDs) Money Market Accounts Checking Accounts View All Personal FinancePersonal Finance Budgeting and Saving Personal Loans Insurance Mortgages Credit and Debt Student Loans Taxes Credit Cards Financial Literacy Retirement View All NewsNews Markets Companies Earnings CD Rates Mortgage Rates Economy Government Crypto ETFs Personal Finance View All ReviewsReviews Best Online Brokers Best Savings Rates Best CD Rates Best Life Insurance Best Personal Loans Best Mortgage Rates Best Money Market Accounts Best Auto Loan Rates Best Credit Repair Companies Best Credit Cards View All AcademyAcademy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All EconomyEconomy Government and Policy Monetary Policy Fiscal Policy Economics View All Financial Terms Newsletter About Us Follow Us Table of ContentsExpandTable of ContentsWhat Is a Bank Statement?How a Bank Statement WorksTypes of Bank StatementsBenefits of a Bank StatementRequirementsBank Statement FAQsThe Bottom LinePersonal FinanceBankingWhat Is a Bank Statement: Definition, Benefits, and RequirementsByAdam Barone Full Bio Adam Barone is an award-winning journalist and the proprietor of ContentOven.com. He has 5+ years of experience as a content strategist/editor.Learn about our editorial policiesUpdated December 14, 2023Reviewed byEbony Howard Reviewed byEbony HowardFull Bio Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries.Learn about our Financial Review BoardFact checked byMaddy Simpson Fact checked byMaddy SimpsonFull BioMaddy Simpson is an experienced data journalist and fact-checker with a background in financial analytics.Learn about our editorial policies Investopedia / Katie Kerpel
An official bank statement is typically sent by the bank to the account holder every month, summarizing all the account's transactions during the month. Bank statements contain bank account information, such as account numbers and a detailed list of deposits and withdrawals.
A transaction history displays all bank account transactions for a set period you choose. Typically, a bank statement only covers one month of transactions and may leave recent or pending transactions out.
No one can check your bank statement without your permission. Unless you give out your account number, banks do not release information regarding your bank statement to unknown third parties without your consent.
If the latest bank statement is more than 45 days earlier than the date of the loan application, the lender should ask the borrower to provide a more recent, supplemental, bank-generated form that shows at least the last four digits of the account number, balance, and date. The statements may be computer-generated forms, including online account or portfolio statements downloaded by the borrower from the Internet.
Bank statements can also be used as official documents for verification purposes. For example, if you ever need to apply for a personal loan, your bank statement is a great document to verify your identity and show proof of your income.
Using your bank statement to review your spending habits is a great way to help you identify possibilities for saving. Looking at a full overview of your spending gives you the chance to see where you could stand to cut back or tweak your spending habits.
Why wait to get your statements in the mail? You can see your online statements as soon as they're ready through mobile or online banking! It's the fast, safe and easy way to stay on top of your account statements.
Most banks today offer online banking for both deposit and credit card accounts. This makes it easy to check your account to see the status and transactions, transfer money, and conduct other banking business. One of the things you can do in your online banking account is get your bank statement.
In addition to downloadable PDF statements, the main page of your account should also list out your recent transactions in an account summary. The transactions may be broken out by statement cycle or all together. While this is not technically your statement, and may include some pending charges, this is an easy way to review recent credits and debits from your account.
Most banks have a limit to how long they retain copies of your statement. This is usually seven years. It is important to keep copies of your statements filed either physically or digitally, just in case you need them and your bank no longer retains the statements. This is especially true for any year-end statements you receive before tax time, as these tend to recap your interest and other taxable earnings for the year. You may be audited by the IRS and need to prove how much you earned.
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