Glossary
Bank statement
Definition
A periodic record from a bank listing every transaction on an account plus its opening and closing balances.
A bank statement summarises an account for a period, usually one month. It shows the opening balance, each deposit and withdrawal with its date and description, often a running balance, and the closing balance.
Statements are used for bookkeeping, tax returns, loan applications, audits and legal proceedings. Most banks provide them as PDFs in online banking for several years.
Related terms
- Opening balance
The account balance at the start of the statement period, also called beginning, previous or brought-forward balance.
- Closing balance
The account balance at the end of the statement period, also called ending, new or carried-forward balance.
- Running balance
The balance printed after each transaction (or each day) on a statement.
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