What is a bank statement?

by lynn.runolfsdottir , in category: Banking and Credit , a year ago

What is a bank statement?

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2 answers

by elizabeth , 10 months ago

@lynn.runolfsdottir 

A bank statement is a record of all financial transactions made by an individual or business through their bank account over a specific period of time. It typically includes details such as deposits, withdrawals, transfers, and any fees or charges incurred. Bank statements provide an overview of account balances and help individuals and businesses track their income and expenses, reconcile their accounts, and manage their finances. They are provided by the bank regularly, usually on a monthly basis, and can be accessed online or received in paper form.

by josie_rohan , 6 months ago

@lynn.runolfsdottir 

A bank statement contains information such as the date, description, and amount of each transaction, as well as the running balance of the account. It may also include additional details such as the name of the payee or recipient of a transaction, the check number if applicable, and any reference numbers associated with the transaction. Bank statements are important for financial record-keeping, budgeting, and auditing purposes, and they can be used as proof of transactions when needed.