Description: A Bank Statement is a document that summarizes the financial transactions made in a bank account over a specific period. This report includes details about deposits, withdrawals, transfers, and fees, providing a clear view of the available balance and account activity. Typically issued monthly, some banks offer statements at shorter intervals or on demand. Bank statements are essential for personal and business financial management, as they allow users to monitor their spending, identify consumption patterns, and ensure there are no errors or fraud in their accounts. Additionally, they are useful tools for budget planning and tax preparation, as they consolidate all financial information into a single document. In the digital age, many banks offer electronic statements, making it easier to access and manage financial information from anywhere at any time, contributing to greater transparency and efficiency in financial management.
