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Bank Statements
A bank statement is a record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it.
The balance of your bank account is the amount of money in the account.
Deposits typically consist of amounts direct deposited into you account or checks you deposit.
Withdrawals are any monies taken out of your account usually through writing a check or using a debit card.
Your bank statement will be available online or mailed to you at the end of every month.
The bank statement is the bank's record of what happened in that account throughout the month.
It is important to compare the bank's record to your own to make sure there are no mistakes by the bank or you.
Let's look at a bank statement together.
Sample Bank Statement
Here is a sample bank statement in its entirety. In the next few slides, we will analyze each section of the statement.
Sample Bank Statement Section 1
- Account type and number: Checking Account #1234-567
- Original account balance: 590.00
- 775.00 (Total of 2 Deposits) below the original account balance (590.00) shows increasing to your account. This should match what is listed in the deposit & credits section.
- 885.85 (Total of 8 Withdrawals) shows decreasing to your account. This should match what is listed in the withdrawals & debits section.
Sample Bank Statement Section 2
This section of your bank statement lists all checks written and other debits including ATM withdrawals, debit card transactions, and bank fees.
Sample Bank Statement Section 3
This section of your bank statement lists all deposits into your account.
