Sometimes, you can even use the document as your proof of address.Ī bank statement is very important. This is because banks typically utilize bank statements to advertise their plans, products, and financial schemes. Through this simple document, you will also learn about different types of bank schemes. It will also allow you to plan your expenses accordingly.Īfter you’ve confirmed the balance in your account through a bank statement template, you can issue checks as payment for things you purchase. The document can be very helpful to make yourself aware of your financial status.
It’s your account, so you have the right to know all of these details. They also contain specific amounts which you have paid or received within a given period. One major purpose of bank statements is to provide you with information about how much funds remain in your account. The start date of the statement period is usually the day after the end of the previous statement period.
Such statements are prepared by the financial institution, are numbered and indicate the period covered by the statement, and may contain other relevant information for the account type, such as how much is payable by a certain date. A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution.
