Bank statement

A bank statement is a monthly statement/description from the bank that shows the depositor’s bank transactions and balances. It shows (1) checks paid and other debits that reduce the balance in the depositor’s account (2) deposits and other credits that increase the balance in the account, and (3) the account balance after each day’s transactions.

The bank statement lists in numerical sequence all “paid” checks, along with the date the check was paid and its amount. Upon paying a check, the bank stamps the check “paid” a paid check is sometimes referred to as a canceled check. On the statement the bank also includes memoranda explaining other debits and credits it made to the depositor’s account.

Bank Statement is a periodic record of a customer’s account that is issued at regular

intervals, showing all transactions recorded for the period in question.

Share it:  Cite

More from this Section

  • Pure no-fault plan
    Pure no-fault plan is the injured person cannot sue at all, regardless of the seriousness ...
  • Directed public share issue
    Directed public share issue means a share issue that is targeted at investors in a single ...
  • Unsatisfied judgment fund
    Unsatisfied judgment fund established by a small number of states to compensate accident ...
  • Max Pain
    Max Pain refers to a circumstance where the stock value contracts onto an alternative ...
  • Proprietorship
    A business owned by one person is generally a proprietorship. The owner is often the manager/operator ...