How To Download Bank Statement In Cub App

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. 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. The start date of the statement period is usually the day after the end of the previous statement period.

Once produced and delivered to the customer, details on the statement are not normally alterable; any error found would normally be corrected on a future statement, usually with some correspondence explaining the reason for the adjustment.

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Bank statements are commonly used by the customer to monitor cash flow, check for possible fraudulent transactions, and perform bank reconciliations. Historically they have been printed on one or more pieces of paper, and either mailed directly to the account holder or kept at the financial institution's local branch for pick-up. In recent years there has been a shift towards paperless electronic statements, and many financial institutions now also offer direct downloads of financial information into the account holders' accounting software to streamline the reconciliation process. Bank statements are important documents and are usually required to be retained for audit and tax purposes for a period set by relevant tax authorities.

To enable account holders to track account activity on an ongoing basis, many financial institutions offer a non-official transaction history before the official bank statement is produced. Such activity may be viewed on or printed from the financial institution's website, a smartphone application, available via telephone banking, or printed by some ATMs.

Transaction histories or account balances may also be shared with other financial institutions, when the account holder gives permission, through open banking to provide services such as account aggregation.[1] An aggregation service only lets the software view an account balance, not actual transactions.

Historically, bank statements were paper statements produced periodically on a monthly, quarterly or annual basis. Since the introduction of computers in banks in the 1960s,[2] bank statements have generally been produced monthly. Bank statements for accounts with small transaction volumes, such as investments or savings accounts, may be produced less frequently. Depending on the financial institution, bank statements may also include certain features such as the canceled cheques (or their images) that cleared through the account during the statement period. Paper statements are typically posted to a customer's home address, and sometimes a copy may be posted to, say, an accountant or guardian.

Financial institutions are required to produce paper statements to customers unless the customer requests either electronic statements or no statements at all. Historically, the production of statements was regarded as part of the banking function, the cost of which was part of providing the service. More recently, however, to encourage customers to opt to receive electronic statements, some financial institutions charge a fee for paper statements.

Some countries such as Japan never had a tradition of mailing statements, with individual account holders being expected to keep track of deposits, withdrawals, and balances using their own passbooks at ATMs.

Since the late 1990s, banks have encouraged customers to receive statements electronically. The switch normally requires express customer consent, which is typically obtained through an online banking system. Producing electronic statements saves financial institutions the significant cost of printing statements, folding them into envelopes and postage. In addition, customers could receive statements more promptly, and not be dependent on the postal delivery service. The customer could print the statement at their premises[3] if they needed one, or have access to historic statements on the institution's website as needed. Other parties may be authorized to have access to the customer's financial information on the institution's website.

Electronic statements may be sent as attachments to emails or, as a security measure, as a reminder that a new statement is available on the financial institution's website. Whether such statements are transmitted as attachments or from the website, they are commonly generated in PDF format,[4] to reduce the ability of the recipient to electronically alter the statement.

Due to identity theft concerns, an electronic statement may not be seen as a dangerous alternative against physical theft as it does not contain tangible personal information and does not require extra safety measures of disposal such as shredding. However, an electronic statement can be easier to obtain than a physical one through computer fraud, data interception, and/or theft of storage media.

A bank deposit account is at the same time an asset of the depositor and debt of the bank. A statement typically presents the bank's view of the account, with credit entries increasing the bank's debit and debit entries reducing it. A customer tracking the same account as an asset would reverse the debits and credits from what appears on the statement.

In the United Kingdom, all banks and building societies are required by law to provide a bank statement on paper or in another durable medium to customers,[5] unless where the customer has a passbook, is a customer of an online only bank or has elected not to receive paper statements.[6]

Banks in the United States are only required to send a statement for a checking account if one transaction has been made from that account in a month. Customers also have the option to receive electronic statements.[7]

Your bank statement may be simple, but it contains a lot of information. The style, formatting and exact contents of a bank statement vary by financial institution, but common elements you can expect to find are:

If your account has made at least one electronic fund transfer (ETF), for example an ATM transaction, debit card usage or direct deposit, within a given month, your bank is required to provide you with a bank statement. This could be either a paper statement in the mail or an e-statement sent through email. Alternatively, many banks also make statements accessible through their apps or online portals.

A common rule of thumb is to consider any financial document that verifies information on your tax return as relevant and worth holding on to. If you keep electronic copies of your bank statements, maintaining at least one set of these backups may help prevent file loss. When disposing of unwanted bank statements and other financial documents, shredding paper copies and ensuring that electronic copies are fully deleted can help prevent your personal information from falling into the wrong hands.

Aiming to review your bank statement at least once per statement period may help you spot accounting errors or fraudulent transactions early. The sooner you act to correct mistakes, the better your chances may be at recovering lost or stolen funds.

A bank statement serves as a snapshot of all the financial activities for an account within a given time period. This includes transaction history, account balances, fees and interest earned and personal information like, your account number. A bank statement can be a useful tool for catching accounting errors or fraud and tracking your spending habits. Customers can typically opt for paper statements, electronic statements or in some cases both. Checking with your bank on its statement policies can be a great first step toward making use of this valuable budgeting and financial management tool.

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Chase serves millions of people with a broad range of products. Chase online lets you manage your Chase accounts, view statements, monitor activity, pay bills or transfer funds securely from one central place. To learn more, visit the Banking Education Center. For questions or concerns, please contact Chase customer service or let us know about Chase complaints and feedback.

An official bank statement is typically sent by the bank to the account holder every month, summarizing all the account's transactions during the month. Bank statements contain bank account information, such as account numbers and a detailed list of deposits and withdrawals. "}},{"@type": "Question","name": "How Can I Get a Bank Statement?","acceptedAnswer": {"@type": "Answer","text": "Typically, you can access your latest bank statements on your financial institution's website. Otherwise, you can request a monthly paper statement be delivered to your home."}},{"@type": "Question","name": "What Is the Difference Between a Bank Statement and a Transaction History?","acceptedAnswer": {"@type": "Answer","text": "A transaction history displays all bank account transactions for a set period you choose. Typically, a bank statement only covers one month of transactions and may leave recent or pending transactions out."}},{"@type": "Question","name": "Can Anyone Check My Bank Statement?","acceptedAnswer": {"@type": "Answer","text": "No one can check your bank statement without your permission. Unless you give out your account number, banks do not release information regarding your bank statement to unknown third parties without your consent."}}]}]}] Investing Stocks Bonds ETFs Options and Derivatives Commodities Trading FinTech and Automated Investing Brokers Fundamental Analysis Technical Analysis Markets View All Simulator Login / Portfolio Trade Research My Games Leaderboard Banking Savings Accounts Certificates of Deposit (CDs) Money Market Accounts Checking Accounts View All Personal Finance Budgeting and Saving Personal Loans Insurance Mortgages Credit and Debt Student Loans Taxes Credit Cards Financial Literacy Retirement View All News Markets Companies Earnings CD Rates Mortgage Rates Economy Government Crypto ETFs Personal Finance View All Reviews Best Online Brokers Best Savings Rates Best CD Rates Best Life Insurance Best Personal Loans Best Mortgage Rates Best Money Market Accounts Best Auto Loan Rates Best Credit Repair Companies Best Credit Cards View All Academy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All TradeSearchSearchPlease fill out this field.SearchSearchPlease fill out this field.InvestingInvesting Stocks Bonds ETFs Options and Derivatives Commodities Trading FinTech and Automated Investing Brokers Fundamental Analysis Technical Analysis Markets View All SimulatorSimulator Login / Portfolio Trade Research My Games Leaderboard BankingBanking Savings Accounts Certificates of Deposit (CDs) Money Market Accounts Checking Accounts View All Personal FinancePersonal Finance Budgeting and Saving Personal Loans Insurance Mortgages Credit and Debt Student Loans Taxes Credit Cards Financial Literacy Retirement View All NewsNews Markets Companies Earnings CD Rates Mortgage Rates Economy Government Crypto ETFs Personal Finance View All ReviewsReviews Best Online Brokers Best Savings Rates Best CD Rates Best Life Insurance Best Personal Loans Best Mortgage Rates Best Money Market Accounts Best Auto Loan Rates Best Credit Repair Companies Best Credit Cards View All AcademyAcademy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All EconomyEconomy Government and Policy Monetary Policy Fiscal Policy Economics View All Financial Terms Newsletter About Us Follow Us Table of ContentsExpandTable of ContentsWhat Is a Bank Statement?How a Bank Statement WorksTypes of Bank StatementsBenefits of a Bank StatementRequirementsBank Statement FAQsThe Bottom LinePersonal FinanceBankingWhat Is a Bank Statement: Definition, Benefits, and RequirementsByAdam Barone Full Bio Adam Barone is an award-winning journalist and the proprietor of ContentOven.com. He has 5+ years of experience as a content strategist/editor.Learn about our editorial policiesUpdated December 14, 2023Reviewed byEbony Howard Reviewed byEbony HowardFull Bio Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries.Learn about our Financial Review BoardFact checked byMaddy Simpson Fact checked byMaddy SimpsonFull BioMaddy Simpson is an experienced data journalist and fact-checker with a background in financial analytics.Learn about our editorial policies Investopedia / Katie Kerpel 006ab0faaa