June 2, 2021
Category: Money Management
How to Read Your Bank Statement
If you’ve got a checking or a savings account, you may receive an envelope in the mail each month with a copy of your bank statement, or you may choose to receive your statements digitally. But what exactly is a bank statement and how do you make sense of it? Bank statements are incredibly useful documents that can allow you to track your spending and keep an eye out for fraud or identity theft. Here’s a guide to learning how to read your bank statement and how to get a copy of it.
A bank statement is a document that summarizes the activity of your bank account over a certain period, usually monthly or quarterly. It will give you a list of all your transactions over that period of time, showing you each time money goes in and out of your bank account. Bank statements can be useful in helping you keep track of your finances, come up with a budget in order to improve your spending habits, and catch any inaccuracies in your account sooner rather than later.
Your bank statement summary will list the following information:
You can get a copy of your bank statement either in the mail or online. Most banks automatically send you your monthly statements by mail. If you do not receive your paper statement in the mail, this may be because you enrolled in paperless statements, which means you’ll have to access it online. Some banks allow you to request a printed statement, although they may charge you a small fee in order to receive it.
Many banks offer online banking services that allow you to access your account online, transfer money, view transactions, and more. One of these services may include viewing a copy of your bank statement, which you can usually download as a PDF.
To access your bank statement online, you’ll want to: