Pinterest
Bank Statements: An Essential Overview
What is a Bank Statement?
A bank statement is a document that provides a chronological summary of all transactions that have occurred in a bank account during a specific time period. It typically includes the account holder's name, account number, and the period covered by the statement.
Key Features of a Bank Statement
Bank statements typically include the following information:
- Account balance at the beginning and end of the statement period
- Deposits made during the statement period
- Withdrawals made during the statement period
- Other transactions, such as fees, transfers, and interest payments
Importance of Bank Statements
Bank statements are important for several reasons:
- Tracking Financial Activity: Bank statements allow account holders to track their income and expenses, monitor their account balance, and identify any unauthorized transactions.
- Evidence of Income: Bank statements can be used as evidence of income when applying for loans, mortgages, or other forms of credit.
- Fraud Detection: Bank statements can help account holders identify fraudulent transactions and report them to their bank.
Pinterest
Komentar