A bank statement is an official document, which is sent by the bank to a customer to show his / her financial records during the month. It contains all the transactions of a bank account such as deposits, charges, and withdrawals, as well as the beginning and ending balance for the period.
Reviewing your bank statements each month will help you to keep track of expenses and spending, as well as monitor for any fraudulent charges or mistakes.
There are two basic ways of getting a bank statement.
Many banks offer account holders two options getting a bank statement either via paper version or electronic ones.
Electronic statements are known also as e-statements and are usually sent via Email to an account holder. They can access their records statements online. This is a very simple and convenient way of getting your bank statements. Nevertheless, some of the banks are kin on paper version and refuse to go away anytime soon.
The benefit of using bank statements are as follow:
Bank statements are a great tool to help account holders keep track of their money. They can help account holders track their finances, identify errors, and recognize spending habits.
So, how to get a bank statement?
Typically, members can access their latest bank statements on their financial institution’s website. Otherwise, you can request a monthly paper statement be delivered to your home.
Of course, it is much more convenient for many of us to have a bank statement online or just make it with the help of a ready-made template in order to save your time and nerves.
Have a close look at the example of an electronic bank statement below ๐
