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What Is a Bank Statement, and How Do I Get One?

What Is a Bank Statement, and How Do I Get One?

A bank statement is a summary of financial transactions that occurred at a certain institution during a specific time period. For example, a typical bank statement may show your deposits and withdrawals for a certain month. Bank statements allow you to check for errors, watch for suspicious activity, and track your spending. You may also need to submit a bank statement when you apply for a loan or mortgage.

By reviewing your bank statements, you’re working toward better financial health and taking control of your finances — putting you closer to reaching your financial goals.

What Shows up on a Bank Statement?

What Is a Bank Statement, and How Do I Get One?

What’s included in a bank statement varies based on your financial institution. If you have a checking and savings account at one bank, you may see both in the same report.

Here’s what’s generally on a bank statement:

  • Account number
  • Home address
  • Statement period
  • Bank’s customer service number
  • How to report errors or fraudulent activity
  • Beginning balance for the time period
  • Deposits
    • Checks
    • Direct deposits
    • Electronic transfers
    • Canceled checks or payments
    • Reimbursements or credits
  • Withdrawals
    • Purchases and payments
    • Electronic transfers
    • ATM withdrawals
    • Auto payments
    • Fees charged by the bank
  • Interest or dividends earned
  • Ending balance for the time period

For each item, you’ll also see a transaction date and the payer or payee name.

Each statement covers a certain period, such as a financial quarter or one month, but it might not begin on the first day of the month. For instance, your statement might run from September 6 to October 5.

If you find any inaccuracies on your statement, you should report them to your financial institution. You usually have 60 days from the statement date to dispute any mistakes or errors. Typically, disputes are done in writing, so be sure to provide any supporting documentation you have. Your institution should work with you to resolve the errors and any fraudulent activity.

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