Bank Statement

AAA

DEFINITION of '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 transactions during the period should result in the closing balance for the current statement.

INVESTOPEDIA EXPLAINS 'Bank Statement'

Consumers should carefully review their bank statements and retain them for their own records. In reconciling their own record of transactions with the bank's records, account holders should be on the lookout for incorrect or transposed numbers as well as unauthorized transactions. Discrepancies should be reported as soon as possible, in writing if possible.

RELATED TERMS
  1. Descriptive Statement

    A bank statement that lists deposits, withdrawals, fees, etc. ...
  2. Account Balance

    1. The amount of money in a financial repository, such as a checking ...
  3. Commercial Bank

    A financial institution that provides services, such as accepting ...
  4. Credit

    1. A contractual agreement in which a borrower receives something ...
  5. Debit Card

    An electronic card issued by a bank which allows bank clients ...
  6. Account Analysis

    1. In cost accounting, this is a way for an accountant to analyze ...
Related Articles
  1. Protecting Your Financial Documents ...
    Home & Auto

    Protecting Your Financial Documents ...

  2. How To Dispute A Credit Card Charge
    Credit & Loans

    How To Dispute A Credit Card Charge

  3. Financial New Year's Resolutions You ...
    Savings

    Financial New Year's Resolutions You ...

  4. Evaluating Your Personal Financial Statement
    Budgeting

    Evaluating Your Personal Financial Statement

Hot Definitions
  1. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  4. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  5. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  6. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
Trading Center