bank statement
Noun: A bank statement is a formal, periodic document issued by a bank to an account holder. It provides a detailed summary of all financial transactions within a specific account over a given period, including deposits, withdrawals, transfers, fees, and interest earned. Its primary purpose is to allow the account holder to review activity, verify accuracy, and reconcile their own financial records.
A bank statement is used for personal financial management, accounting, and verification. It serves as an official record. - It is typically received monthly, but the period can vary (e.g., quarterly). - It is used with the verbs receive, check, review, reconcile, and download. - Common prepositions used with it are on (a statement) and for (a period).
- I need to review my bank statement to track my spending.
- Please bring a copy of your most recent bank statement as proof of address.
- The discrepancy was found when she checked her bank statement online.
- You can usually download your bank statement from the bank's website.
- To reconcile against a bank statement: This is an accounting term meaning to compare one's own financial records (like a checkbook register) with the official bank statement to ensure they match and to identify any errors or unauthorized transactions.
- Statement: A more general term for any formal summary or report. In a financial context, it can also refer to a credit card statement or investment statement.
- E-statement / Electronic Statement: A digital version of a bank statement, delivered via email or accessed through online banking.
- Account Summary: A similar document, sometimes less detailed than a full statement, showing the opening balance, closing balance, and total transactions for a period.
- Account Statement: A direct synonym.
- Financial Statement: A broader term that can include balance sheets and income statements, but in personal finance, it is sometimes used interchangeably with bank statement.
- Bank statement period: The specific date range covered by the statement (e.g., January 1 - January 31).
- Bank statement balance: The amount of money in the account at the end of the statement period, as shown on the document. This may differ from the current/available balance.
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a periodic statement prepared by a bank for each client
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I wish my bank statement arrived earlier in the month
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