Since the late 1990s, banks have encouraged customers to receive their bank statements electronically. The change usually requires the explicit consent of the customer, which is usually obtained through an online banking system. Creating electronic statements saves financial institutions significant costs related to printing bank statements, folding them into envelopes and postage. In addition, customers could receive invoices faster and not depend on the postal delivery service. The client can print the declaration on his premises[3] if necessary or have access to historical explanations on the institution`s website if necessary. Other parties may have the right to access the Client`s financial information on the Institution`s website. Most bank statements start by grouping all deposits together, which gives you an idea of what exactly went into your account in the previous month. Then you will see your withdrawal activity summarized. Your summary will include your account balance at the beginning of the month, and then display your final balance once all deposits have been added and withdrawals have been made. Your bank statement lists all transactions made with your account during a month. When you look at your bank statement, you can see all the money that went in and out of your account in one place. Data and other parties are also displayed for each transaction.

This way, you can see who you paid (or who paid you) and the date the transaction actually deleted the bank. With this information, you can manage your savings and make better financial decisions. Some financial institutions take the opportunity to publish bank statements to include notices such as changes in fees or interest rates or promotional materials. Account statements are often used by the client to monitor cash flow, verify possible fraudulent transactions, and perform bank reconciliations. In the past, they were printed on one or more pieces of paper and sent directly to the account holder or kept at the local branch of the financial institution for collection. In recent years, there has been a shift to paperless electronic statements, and many financial institutions now offer direct uploads of financial information into account holder accounting software to simplify the reconciliation process. Bank statements are important documents and generally need to be kept for control and tax purposes for a period determined by the relevant tax authorities. A bank statement is a document created by your financial institution each month. With a bank statement, you can see all the income and expense activities related to the account. In some cases, your bank statement may also provide you with documents to help you get a loan. In order to access your electronic bank statements, it is usually necessary that you log in to your account and look for a navigation point that shows the bank statements.

This may be under a heading such as “Services” or “Account Information” if a statement option is not immediately visible in your navigation. Once you`ve found your bank statements, you can choose the month you want to view. As a general rule, it is possible to save or print your bank statement in PDF format on your computer. Understanding your bank statement will help you learn more about your financial habits and make better financial decisions. Let`s take a look at what`s included in a bank statement and how it can give you a detailed picture of your finances. A bank statement is designed to show you exactly what has happened to your account in the past month and describe in detail your spending habits and any expenses incurred. To make it easier to balance your account, we`ll have a step-by-step spreadsheet at your disposal. The printable spreadsheet allows you to enter recent transaction activity and compare your account balance with the current bank statement.

Download the “Account Balance” spreadsheet (PDF, requires Adobe Reader layer download) Under the summary, the statement shows each individual transaction you participated in, along with the corresponding data, amounts, and payees. With a checking account, a bank statement can be several pages long, depending on how often you use your account to cover your expenses. In general, you will see your transactions in the order in which they took place. The detailed list of transactions gives you an idea of when the money arrives in your account each month and when the money runs out. Financial institutions are required to create paper statements for customers, unless the customer requests electronic bank statements or no bank statements. Historically, the creation of bank statements was considered part of the banking function, the cost of which was part of the provision of the service. More recently, however, to encourage customers to choose to receive electronic bank statements, some financial institutions charge a fee for paper bills. Yes, your bank statements with cheque images are available online: you can view, print and download your bank statements at any time for up to 36 months.

If you work paperless with our online statement service, we will provide you with free cheque photos as part of your bank statement and you will receive your bank statements online rather than in the mail. .