- Bank statement
An account statement or a bank statement is a summary of all
financial transactions occurring over a given period of time on a deposit account, a credit card, or any other type of account offered by a financial institution.
Bank statements are typically printed on one or several pieces of paper and either mailed directly to the account holder's address, or kept at the financial institution's local branch for pick-up. Certain ATMs offer the possibility to print, at any time, a condensed version of a bank statement.
Historically, bank statements were produced
quarterly or even annually. Since the introduction of computers in banks in the 1960s, [ [http://www.rbc.com/history/anytimeanywhere/automating-detail.html#5 rbc.com - History ] ] bank statements are generally produced every month. This frequency is nowadays reserved to accounts not carrying a large volume of transactions, such as investments or savings accounts. Depending on the financial institution, bank statements may include certain features such as the canceled cheques (or their images) that cleared through the account during the statement period, promotional inserts or important notices about changes in the fees. Thanks to online banking, financial institutions offer virtual statements, also known as paperlessstatements or e-statements. Due to identity theftconcerns, a virtual statement may be seen as a safer alternative against physical theft, as it does not contain tangible personal information and does not require extra safety measures of disposal such as shredding. However, a virtual statement is easier to get for the thief who is an expert on online banking.
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bank statement — ➔ statement * * * bank statement UK US noun [C] ► BANKING a record of the money put into and taken out of a bank account: »The bank no longer returns the actual cancelled cheques with the bank statement every month. »You can read your bank… … Financial and business terms
bank statement — bank statements N COUNT A bank statement is a printed document showing all the money paid into and taken out of a bank account. Bank statements are usually sent by a bank to a customer at regular intervals … English dictionary
bank statement — bank .statement n a document sent regularly by a bank to a customer that lists the amounts of money taken out of and paid into their ↑bank account … Dictionary of contemporary English
bank statement — bank ,statement noun count a document that shows all the money that went into or out of your bank account during a particular period of time … Usage of the words and phrases in modern English
bank statement — noun a periodic statement prepared by a bank for each client I wish my bank statement arrived earlier in the month • Hypernyms: ↑statement, ↑financial statement … Useful english dictionary
bank statement — UK / US noun [countable] Word forms bank statement : singular bank statement plural bank statements a document that shows all the money that went into or out of your bank account during a particular period of time … English dictionary
bank Statement — A summary of transactions in a bank account prepared for a bank customer. Bank statements are usually prepared at regular intervals, and they increasingly have *real time availability. *Bank reconciliations the agreeing of bank statement amounts… … Auditor's dictionary
Bank Statement — A record, usually sent to the account holder once per month, summarizing all transactions in an account during the time from the previous statement to the current statement. The opening balance from the prior month combined with the net of all… … Investment dictionary
bank statement — 1. a monthly statement of account mailed by a bank to each of its customers with checking or other accounts, recording the banking transactions and current balance during a period and usually including canceled checks. 2. a statement required to… … Universalium
bank statement — noun A communication from a bank to a person holding an account in that bank, usually issued monthly, detailing the value of the holdings in that account and the effects of all transactions occurring with respect to that account. Syn: account… … Wiktionary