Fillable Form Bank Statement
A Bank Statement is a formal document that displays the financial transactions of an individual or business over a specific period of time. This document typically includes information such as the account holder's name and account number, the beginning and ending balances, deposits and withdrawals, and any associated fees.
What is a Bank Statement?
A Bank Statement, also known as an Account Statement, is a short form that details the activity of a particular bank account within a specific time period. Account Activity refers to the transactions made in a particular brokerage or bank account, such as cash withdrawals, bill payments, and wire transfers. Account statements require information on both the account in question and the transactions made, such as the account number, balance, and the owner’s name and address, and the transaction description, cost, and invoice number.
Bank Statements can be used for a wide variety of different situations, and as such must be filled out carefully and stored in an organized, safe area for future use. Bank Statements are prepared by a bank either on a particular schedule or at the request of the account holder.
How do I fill out a Bank Statement?
The Bank Statement Template consists of two sections that must be filled out with details about the activity (withdrawals and deposits) of the account. It may be beneficial to have additional documents (such as receipts) to verify the transactions recorded in the Bank Statement.
Period
Enter the period of time that the Bank Statement will cover.
Name of Account Holder
Enter the account holder’s full legal name.
Address Information
Enter the account holder’s residential address information.
Section 1: Account Summary
Opening Balance
Enter the balance of the account at the start of the period indicated above.
Total Deposits
Enter the total of all deposits made to the account over the course of the period indicated above.
Total Withdrawals
Enter the total of all withdrawals made from the account over the course of the period indicated above.
Closing Balance On
Enter the balance of the account at the end of the period indicated above, and the date that the balance was last recorded within the period.
Section 2: Transaction Details
Enter the following information in the columns provided for each of the deposits and/or withdrawals made over the time period indicated above. If you require more space, you may use an extra sheet of paper that is properly labeled as needed.
Date
Enter the date of the activity.
Description
Enter a short description of the activity or reason for the activity, such as the name of the person/entity withdrawing or depositing money from or to the account, or the purpose for the withdrawal/deposit.
Deposits and Withdrawals
Enter the deposit and/or withdrawal done on the above indicated date. If more than one deposit and/or withdrawal occurred in one day, enter the information for each deposit and/or withdrawal separately.
Balance
Enter the balance of the account after the deposit and/or withdrawal is subtracted or added to the account.
Closing Balance As Of
Enter the date within the above indicated period that the balance of the account was checked last, then enter the balance recorded on that date.
Frequently Asked Questions (FAQs)
How often are Bank Statements issued?
Most commonly, Bank Statements are issued at the request of the account holder. Contact your bank to learn how and when they issue bank statements.
What is “account activity”?
Account Activity refers to the transactions made in a particular brokerage or bank account, such as cash withdrawals, bill payments, and wire transfers.
What constitutes a “withdrawal”?
A withdrawal can refer to any time that money is taken out of the bank account, for any reason.
What constitutes a “deposit”?
A deposit can refer to any time that money is added to the bank account, for any reason.
Can I request a Bank Statement from a previous period?
Yes, simply contact your bank and specify the period for which you wish them to provide a statement for.
What are Bank Statements used for?
Bank Statements can be used for any purpose that requires information on a person’s finances, as they indicate when and how particular withdrawals and deposits are made to the account throughout a given period of time. One common use for them is for financial institutions, such as banks, to offer discounts and other benefits for continuing to do business with them instead of moving to a competitor.
Can I dispute a transaction on my Bank Statement?
Yes. The exact process will differ depending on the bank, but as a general rule, you must contact your bank to tell them that a particular transaction or multiple transactions should not be counted on your Bank Statement, and provide evidence for why said transaction(s) should not be recorded.
Can I add a transaction to my Bank Statement?
Yes. Similar to disputing a transaction, you must contact your bank to tell them of missing transactions that should be included in the statement, and then present proof of said transactions so that they can be properly recorded.
Can I have someone else manage my Bank Statement for me?
Yes. You may hire an accountant to manage your Bank Statements, so long as you give them the necessary authorization to do so. Depending on what you need the Bank Statements prepared for and what you need the Bank Statement for, there may be other requirements needed, so make sure to check what you and the accountant need beforehand.
Are Bank Statements considered legal documents?
Bank Statements can be used as legal documents in certain situations, such as any cases requiring that you show your bank activity for particular periods of time. This is important, especially if you notice a discrepancy in your Bank Statement (such as a withdrawal or deposit that should not have been made), as the Bank Statement will serve as proof of the discrepancy.
What kinds of accounts can you get a Bank Statement for?
There are many different kinds of Bank and Account Statements depending on the type of account. Some of the more common types include:
Credit Card statements, which contain information on transactions made using a credit card.
Brokerage Account statements, which contain information on the activity that the brokerage firm has engaged in.
Checking Account statements, which contain information on the transactions involving the concerned account.
How long does it take to receive a Bank Statement by mail?
The time it takes to receive a bank statement by mail can vary depending on the bank and the postal service. In general, most banks typically send out monthly statements within a few days after the statement cycle has ended. Once the statement is generated, it may take an additional 5-10 business days for the statement to be printed, processed, and delivered by mail. Some banks, however, deliver electronically.
What is a Statement Cycle?
Statement Cycle refers to the number of days between one statement date and the next statement date.
Can I download my Bank Statement in a specific format?
You will have to ask your bank what formats they can send your bank statement in to be sure, but yes.
What is an overdraft fee?
Overdraft fees are incurred when you spend more money than you have available in your bank account.
Who has access to my Bank Statement?
You, your bank, and any other person that you authorize to view your statement. No other person may view your Bank Statement, and if you suspect that your banking information has been compromised, it is critical that you contact your bank right away to carry out the necessary security measures.