Definition Of

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.