A bank statement is more than just a record of transactions   it’s a critical tool for managing your finances, proving income, and safeguarding against fraud. 

In this article, we’ll explore what a bank statement is, its features, how to get one, and its importance in financial planning, visa applications, and more. Whether you need a certified or notarised copy, or simply want to understand your spending habits better, this guide has you covered.

What Is a Bank Statement?

A bank statement − referred to as a “bank account statement” − is a document showing all the financial transactions pertaining to a specific bank account over a certain period, typically monthly. It records what money came in (credit) and out (debit) of your account, as well as account balances, helping you track your finances. 

As it includes deposits, withdrawals, fees, and interest earned, it gives you a comprehensive summary of your financial activity. Bank statements are available in paper form, typically via post, or digitally through online statements accessed through online banking.

The Key Features of a Bank Statement

A typical bank statement layout includes a summary section of your banking profile at the top, followed by a detailed list of transactions and activity, including:

  • Account holder’s details: Your name, account number, 6-digit sort code, and address.
  • Transaction history: A chronological list of payments, deposits, withdrawals, and charges, with dates and descriptions.
  • Account balances: Starting and ending balances for the statement cycle, plus any overdraft limit or fees.
  • Other information: International banking codes (SWIFT, BIC, and IBAN) and notices of interest or charges.

Example of a Bank Statement

Most banks follow a consistent format to ensure clarity and ease of use. If you need a copy of your bank statement, you can access one digitally or request a printed version from your bank. 

UK Bank Statement example

 

Image source: Lloyds Bank

Why Are Bank Statements Important?

Bank statements play a vital role in financial management. When applying for loans, mortgages, or rental agreements, you’ll need them as proof of income. If you have to lodge a dispute with a store, service provider or your bank, bank statements can help you resolve disputes. 

Keeping an eye on your printed or online bank statements can help you with budgeting, as you can see where to cut spending and plan savings. In addition, you can prevent fraud by spotting any unauthorised transactions or payment errors. 

Whether you’re using them for budgeting, legal purposes, or simply to keep track of your spending, bank statements are an indispensable money-management tool. Always store your bank statements securely, as they contain important personal information.

How to Get a Bank Statement

Obtaining a bank statement from your bank is straightforward, with several methods available:

  • Online banking: Log in to your bank’s online platform to access, download, or print digital PDF copies of your statements. Online banking platforms typically provide access to up to 12 months of statements, though some banks let you retrieve older ones.
  • Banking apps: Many banks have mobile apps that let you view and save your statements directly from your phone.
  • In-branch requests: Visit your local bank branch to request a printed copy of your bank statement. Staff can also help you access online statements if needed. Many banks let you print out statements at their ATMs. 
  • Post: Contact your bank to have statements mailed to your address. Bank statements are usually issued monthly as standard, but you can request additional or ad-hoc statements when needed. Note that printed or archived statements may incur a fee, especially for older records.

Certified Bank Statements

A certified bank statement is an official copy verified and stamped by your bank, ensuring its authenticity. Certification is often required for official purposes, such as for visa applications, mortgage approvals, or for legal or financial verification. If you need a certified statement, contact your bank to arrange this service. Be aware that certification may take additional time and might involve a small fee.

Bank Statements: Digital vs. Paper?

In the UK, many banks offer flexibility, allowing you to switch between paper and digital formats based on your preferences. Consider your needs to decide which option works best for you.

Advantages of Digital Statements

Digital bank statements, which have become the standard for most account holders in the UK, offer numerous benefits. Going paperless reduces paper waste, so they’re the more environmentally friendly option. Digital statements are also instantly accessible via your online banking platform, email or mobile app. Digital formats make it easier to search for specific transactions, organise records, and store them securely without needing physical storage space.

When Paper Statements are Useful

While digital statements are convenient, paper statements still have their place in certain situations, such as:

  • Notarisation or certification: Need a notarised or certified bank statement for legal, visa, or financial purposes? A printed version will likely be required.
  • Reliable backup: Paper statements serve as a tangible backup, particularly when digital platforms are inaccessible due to technical issues or security concerns.

Note that digital statements may not always be accepted for legal or visa purposes unless they’re certified or notarised.

Notarisation of Bank Statements

What Is Notarisation?

Notarisation is the process of verifying the authenticity of a document. A qualified notary public applies their official seal and signature to confirm that the document is genuine, trustworthy, and is legally recognised for official purposes.

Why Notarise a Bank Statement?

There are many situations where notarised bank statements are required, such as:

  • Visa or immigration applications: Governments may need verified financial evidence for visa processing.
  • Overseas property purchases: Proof of funds is often required when buying property abroad.
  • Court cases or official documentation: Notarised bank statements may serve as evidence in legal proceedings.
  • Know Your Customer (KYC) procedures: Banks, financial institutions, and legal institutions often require a notarised proof of address to verify your identity.

How to Get a Bank Statement Notarised

To notarise your bank statement, consider the following:

  1. How it is issued: You can download bank statements from your online banking app, or request printed copies directly from your bank.
  2. Contact a notary: Find a qualified notary who has experience in notarising bank statements. Our team can assist whether you are based in the UK or internationally. A notary public will have experience in verifying and notarising your bank statement. 
  3. Complete the process: If you downloaded the statement, you will need to show the notary where you logged in to download it from. If you have an original certified statement from the bank, you will need to provide it to the notary. 
  4. Once the notary has verified the authenticity of the document, they will affix  a notarial certificate, and apply their official seal and signature.

At Notary.co.uk, we simplify the notarisation process to ensure your bank statement is recognised wherever it’s needed. 

Conclusion

Bank statements are essential for financial planning, legal processes, and budgeting. They are also commonly used as a proof of address for identity purposes. From choosing between paper and digital formats to obtaining notarised copies for official purposes, understanding their uses can help you manage your finances effectively and be more organised during important life stages. 

However you choose to get your bank statements, ensure you store them securely. Some even choose to shred outdated statements for safety reasons. Contact us if you need help with bank statement certification or notarisation.

FAQs About Bank Statements

How long should I keep my bank statements?

You should keep bank statements for at least six years for tax purposes, or longer if required for financial records.

Can I use digital statements for official purposes?

Yes, many organisations accept digital statements. However, for some legal or official processes, a certified or notarised paper copy may be required.

Is there a difference between a certified and notarised bank statement?

 Yes. A certified bank statement may be certified by the bank or another professional.  A notarised bank statement is certified by a notary public. You will often need your bank statement certified by a notary public, and so notarised, if you are using it abroad.

What should I do if I lose my bank statements?

Contact your bank for copies. Most banks provide replacements, for a fee, and may offer digital versions if you need them urgently.