It can provide insight into spending habits or help you discover unauthorized transactions that require action. ![]() Statements include every transaction-deposits, withdrawals and other charges made during the month.įor individuals, a bank statement serves several uses. What Is the Purpose of a Bank Statement?īanks use bank statements to record an account holder’s transactions each month. Checking your monthly bank statement can help you find spending areas to cut or trim, leading to savings. But they are a great tool to track your spending and expenses. ![]() Traditional banks, online banks and credit unions all send bank statements.īanks issue statements for their records and to reconcile bank accounts. It summarizes account transactions from the statement period, including deposits, transfers and withdrawals.īank statements include pertinent account information, such as starting and ending balances and bank contact information. ![]() A bank statement, or account statement, is a document supplied by banks to account holders every month.
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