Glossary
Statement
Statement is the written record prepared by a financial institution, typically issued once a month, that lists all transactions for an account. This document provides a comprehensive summary of account activity, including deposits, withdrawals, transfers, and any fees or charges incurred during the statement period.
Key components of a statement include:
A statement serves as an essential tool for account holders to monitor their financial activity, manage their finances, and detect any unauthorized transactions or errors. By regularly reviewing their statements, account holders can maintain better control over their financial health and promptly address any issues that arise.