Definition of Bank statement:
A bank statement is a document (also known as an account statement) that is typically sent by the bank to the account holder every month, summarizing all the transactions of an account during the month. Bank statements contain bank account information, such as account number and a detailed list of deposits and withdrawals. .
Report released (on a fixed date every month) by banks that lists deposits, withdrawals, checks paid, interest earned, and service charges or penalties incurred on an account. It shows the cumulative effect of these transactions the accounts balance, up to the date the report was prepared.
A bank issues a bank statement to an account holder that shows the detailed activity in the account. It allows the account holder to see all the transactions processed on their account. Banks usually send monthly statements to an account holder on a set date. In addition, transactions on a statement typically appear in chronological order.
How to use Bank statement in a sentence?
- I received my bank statement the other day and was surprised to see more money in my account than I thought I had.
- A bank statement is a list of all transactions for a bank account over a set period, usually monthly. .
- Account-holders generally review their bank statements every month to help keep track of expenses and spending, as well as monitor for any fraudulent charges or mistakes.
- The statement includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period. .
- If you are unsure of what your balance is you can find out when they send out the next bank statement that breaks down your account.
- The bank statement was referenced during the bankruptcy case as evidence that the person was making a sufficient amount of money to pay back the debt.
Meaning of Bank statement & Bank statement Definition