Bank Statement Definition
A bank statement is an official document issued by a bank that shows activity in your account over a set period, usually one month. It shows your confidential information, such as your name, address, account number, date range, how much money went in and out, and all associated transactions, providing a clear record of what is happening to your money.
What is the purpose of a bank statement?
A bank statement helps you monitor your finances, review your spending habits, and identify any unauthorised transactions or errors.
Third parties may use your bank statement to verify your financial status, such as for rental applications or tax assessments.
How are bank statements created?
Every time you make a transaction, such as paying or getting paid, your bank records it. At the end of the month, you can access the statement and use it to analyse it or share it with an institution.
How to access your bank statements
For a long time, banks sent statements by post, often charging a fee. Nowadays, practically all banks offer electronic statements and provide secure online access to your online account. Log in to your bank's online account to access your statements.