The benefits of a bank statement template

Filing all of your bank statements is essential, especially if you want to have a good idea of your financial status. Aside from this, the document comes with a lot of benefits which is why you shouldn’t just throw them away. Consider these benefits:

• You can use the bank statement template to apply for different kinds of loans. Just ask for the statements from your bank, and they will provide the documents to attach to your loan application.
• Use the template to monitor your monthly transactions. If you want, you can use this editable bank statement template for your own personal use to list all of your transactions. Then when the real bank statement comes, you can compare it with the template you’ve edited.
• If you see encounter any problems with your finances, you can use the statements to trace all of your transaction information. If you find any discrepancies, you can use the document as your evidence for legal claims.
• It serves as a proof of all your transactions for the month. This is especially helpful for business owners as they can use it when they’re making financial decisions.
  Schools and other organizations can also use the bank statements to prove whether or not their students have made their payments.

Features of a bank statement template

Banks and other financial institutions issue bank statements to their account holders. These are important documents which will provide the account holder with all of the information about his/her account. Here are the important features of a bank statement template:

• Typically, banks generate this document monthly and issue it to all of their account holders.
• It shows all of the monthly activity in the account including deposits, withdrawals, service charges, earned interests, and penalties if any.
• Bank statements also provide you with your starting balance, ending balance, the date of the statement, completed transactions, details of the customer, and other information about the bank.
• The document will provide you with a summary of all the transactions which have happened within the month or a specific time period.

One great thing about bank statements is that it ensures accountability along with the transparency of the financial institution. It works for both the account holder and the institution that issues it.

How to use a bank statement template?

When you’re trying to reconcile the information on your account against the records of the bank, you should go through your bank statements to see if there are any discrepancies. If you find any discrepancies, report these to the bank right away. You can give them a call, but it would be better to write a formal letter to explain your situation.

Banks and other financial institutions issue bank statement templates to their account holders which show all of the details of the transactions in the account. It provides you with information about the financial activity which occurred in your account within a month or a specific period of time. Usually, banks send these statements to their customers monthly on a given date. Also, the transactions on the statement appear chronologically.

Nowadays, some banks have gone paperless which means that they send electronic statements to their customers via email. For some banks, they give you the option to choose whether you want to receive the printed document or you want to receive your statement through your email.

The electronic statement or e-statement allows you to see your bank statement online. You can download it, save it on your computer, and print it out is necessary. There are also some ATMs available which offer you the chance to print out a summary of your bank statement known as your transaction history.

Although you may have your bank statements sent to your email directly, a lot of people still prefer to receive the printed document from the bank. This is because you can file all the monthly statements you receive to keep track of your financial history.

You can also use them to learn about your spending habits and watch out for any errors or discrepancies. If you happen to find any errors or discrepancies, you must report them to the bank right away. Typically, you have up to 60 days to dispute such errors to the bank.