A bank statement is a document that shows the amount of money in an account at a given time i.e a monthly or weekly period. This will show a detailed record of all the transactions, in and out of the account over a certain period. These transactions will be accompanied by their date and the method of payment used to complete the transaction. A transaction is the movement of money in and out of an account.
The bank statement should include the following information:
- Bank name
- Branch address
- Statement period
- Service Charges
- Beneficiary names
- Contact information
Only the account holder should have access to the bank statements and are not allowed to be shared with unknown third parties without consent.
Modern-day banking means that bank statements are usually electronic so to have them certified you will need to print them out.