What is an account statement?

Account statement is a financial document providing information about activities on accounts. The statements are usually provided free of charge by financial services such as control and savings accounts, brokerage accounts, etc. People may have access to paper and electronic statements, and some financial institutions offer a paper statement only for a fee to encourage people to use paper -free billing of environmental reasons. The account type is also listed. A quick look can give people an overview of the nature of activities in the account in the last accounting period, including the total number of debit and credits and the new remaining balance. The detailed transaction register gives each transaction and all important details, and things are recorded for the reference number.

Some financial institutions will provide information for all accounts on one statement. For example, someone can get a statement involving control, savings and loan from the bank. In this case, information can be presented as a separate seriesCh statement or all financial activity per month can be provided in a chronological order. In the account statement, people also have information about who to contact if there are errors or other problems.

It is advisable to carefully check the account commands. If the activity looks unknown, the financial institution can be contacted to get more information. Obviously, erroneous records should be attacked as soon as possible. People should also be aware that inaccuracies should not be counted in their favor; In other words, if the account statement records a deposit that never happens, people should not assume that money will be available for their use, and instead should contact the bank and report a problem.

Since account reports may contain identification data, they are usually sent in security envelopes and people may be advised to use for personal securityThey looked at a lock mailbox or mailbox for communication from financial institutions. It is also important to shred or otherwise carefully dispose of a statement that is not kept for records, reduce the risk of someone picking up the document and using it to access an account or commit an identity. Suspicions of compromises to identity should be reported to take measures to avoid fraudulent activities.