Bank Statement

A bank statement is a document provided by a bank or financial institution that summarizes a customer's account activity over a specific period of time. The bank statement provides details about deposits, withdrawals, transactions, fees, and other account activity during the statement period.

Bank statements are typically sent to account holders on a monthly basis, either in paper form or electronically. They are an important record of financial activity and can be used to reconcile account balances, track expenses, and identify any errors or discrepancies in account activity.

The information included on a bank statement can vary depending on the bank or financial institution. However, most bank statements will include the following information:

• Account information: The bank statement will typically include the account holder's name, account number, and account type.
• Transaction activity: The statement will list all transactions that have occurred during the statement period, including deposits, withdrawals, and any fees or charges that may have been assessed.
• Balance information: The statement will provide a summary of the account balance at the beginning and end of the statement period, as well as the balance for each day of the statement period.
• Interest earned: If the account earns interest, the bank statement may include information about the interest earned during the statement period.

Bank statements can be an important tool for financial management and record-keeping. They can help account holders stay on top of their finances, track expenses, and identify any fraudulent activity on their accounts.