Editable Bank Statement: Templates & Samples

With the upliftment in technology, piles of documents, a large queue of lines, and (kind) bank workers are history in any bank dealings or transaction. Every facility and service is just one touch away, and you can avail your bank statements even on your phones.

With the upliftment in technology, piles of documents, a large queue of lines, and (kind) bank workers are history in any bank dealings or transaction. Every facility and service is just one touch away, and you can avail your bank statements even on your phones. 

What is a bank statement?

A bank statement is a document that summarizes all the financial transactions of a month and is typically sent by the bank to the account holder. In addition, bank statements contain bank account information, such as account numbers and a detailed list of deposits and withdrawals. Bank statements are crucial as they allow you to check for errors, look for hazardous activities, and track your spending. Bank statements are also required to be submitted to a bank while applying for a loan or mortgage.

Purpose of a bank statement

Bank statements help you to be more accountable; the primary purpose of a bank statement is to help you keep track of your expenses and estimate the savings you can make. 

  • Record of your spendings

A bank statement can act as a diary that keeps track of all your expenditures, Especially if you use checks, debit cards, or credit cards to make the payments. Your bank statement can tell you exactly how and where you have spent your money. If you want to make a budget but you are unable to estimate the budget for each category, your bank statement can help you in the task. 

  • Tracks your account activity

Your bank statement offers a chain of information; it tells you how much money you have about the sum of money you hold in your every account at the beginning of the accounting period and how much money was in the account at the end of the period. It also tells you about your deposits and withdrawal. In addition, the statement lists the interest linked to your accounts, if any. Finally, it also enlists all of the charges the bank has debited from your accounts to provide you transparency regarding the maintenance of the account. 

  • Allows account reconciliation

One of the significant purposes of your bank statement is to provide you with means of reconciling your check register. With this process, you will be able to compare bank records with your own record to make sure they match.

Reconciliation of bank statements is crucial because if the records do not match, and you might tend to overspend, thinking you have more money in your account than the bank is showing. In this way, you will be at risk of spending more money than available, leading to costly overdrafts or an embarrassing declined transaction at the register. 

  • Points out unauthorized transactions

Bank statements can help you to reveal unauthorized charges to your account. 

If your bank statement includes your savings account, checking account, or credit card accounts. The accounts might be combined on a single statement or might be reported individually if one of your accounts gets compromised by any chance, for example, if someone gains access to your credit card number. Chances are, at the very first time, you will be aware of it as soon as you notice unauthorized charges against your account. Therefore, to minimize the damage, you must report to your bank as soon as you see it. 

The benefits of a bank statement template

Filing all your bank statements is very vital, especially if you want to track your finances. However, there are many other crucial roles of bank statements, which is why you must not throw them away. The benefits include:

  • Bank statement templates are highly crucial to apply for different kinds of loans. You can ask for your statements from your bank to attach them to your loan application.
  • A bank statement template helps you to monitor your monthly transactions. You can also use an editable bank statement template to maintain a personal record of all your transactions. Later you can compare your real bank statement with the template you’ve edited.
  • If at any point you encounter any financial problem, in that case, you can use your bank statements to trace all of your transaction information. Furthermore, you can also use the document as evidence to make legal claims in certain discrepancies.
  • It records all your monthly transactions. This is primarily helpful for business owners who use the statements while making any financial decisions.
  • Schools and other organizations use bank statements to prove or to maintain a record of whether or not their students have made their payments.

 

Features of a bank statement template

Banks and other financial institutions issue financial bank statements to their account holders. These documents hold immense value and provide the account holder with a lot of information. Here are some features of the bank statements templates:

  • The bank itself primarily issues these documents to all its account holders.
  • It tracks all your monthly activities like deposits, withdrawals, service charges, earned interests, and penalties, if any.
  • The bank statements also provide other information such as starting balance, ending balance, the date of the invoices, completed transactions, details of the customer, and additional information about the bank.

One of the most emphasizing features of a bank statement is that it ensures accountability and transparency of the bank or financial institution.

 

How to make a bank statement?

As mentioned earlier, bank statements are issued by the bank to their account holders. Hence, you cannot make your bank statement template and use it as an official document. Of course, you can download a fake bank statement for your personal use to maintain your personal financial record, but it can’t be used as an actual bank statement.

Bank statements issued by the bank are made with a lot of effort and time by a team of professionals with a lot of planning to make the most meaningful template, which will be understandable by everyone. The template must convey all the important financial details. 

Using a fake bank statement as an official document is illegal and can get you into a lot of trouble. If you need a bank statement, you can ask your bank to provide you with the statement. 

 

How to use a bank statement template?

If you are trying to condor your bank information on your account against the original records of the bank, you should check through your bank statements to see if there are any discrepancies. If you find any, report to the bank immediately. Then, you can either call the bank or the most suitable approach is to write a formal letter to explain your situation.

Banks and other financial institutions issue bank statement templates to their account holders that record all their transactions with the account. It provides you a complete record of all the financial activity you have done in a month or in a specific period of time. Usually, banks send these statements to their customers on a monthly basis, on a given date. 

Nowadays, some banks have upgraded themselves and embraced technology, which means that they have started sending electronic statements to their customers via email. Some banks even allow you to choose whether you want to receive the printed document or receive your statement through your email.

The electronic statement or e-statement allows you to see your bank statement online and restore the soft copy for future use by downloading it to your computer and print it out whenever necessary. In addition, even the ATMs offer you the chance to print out a summary of your bank statement known as transaction history.

Although a soft copy of the bank statement via mail looks convenient, a lot of people still prefer the printed document from the bank. It may be because they want to file all the monthly statements to keep track of their financial history.

 

Requesting for a bank statement

Each and every account holder in a particular bank has the right to request for a bank statement. However, banks have certain statutory obligations in providing the details, at some other time, other than their scheduled time of giving the statement. Therefore, there is a process for how you request to get the statement from the bank. 

The simplest way to do this is to submit an application directly to the bank or by email that provides all of the necessary details, including your name, account number, and the time period for which you need the statement. Banks will provide a copy of the bank statement free of charge. But in case you require more than one copy or other printouts of documents, the bank may charge you for them.

 

Reconciling your bank statements

As stated earlier, bank statements can help you reconcile the information you have with the bank. However, to check out discrepancies, you must go through the bank statements, i.e., some data doesn’t tally. So You must inform the bank at once. There are several reasons for discrepancies; for example, your bank might have credited an interest amount or debited charges from your account. In such cases, you must confirm with the bank.

To reconcile the information:

  1. Place your personal record and the record provided by the bank side-by-side to each other.
  2. If you spot any differences, highlight them.
  3. Construct a letter about it and send it to your bank along with a copy of your bank statement and your records. The bank will respond immediately. 

A bank statement thus provides valuable information about your financial transaction and also helps to maintain a transparent bank and customer relationship. But do not create a fake bank statement template and use it for official works, as if you get caught, you might have to face serious legal actions. So, it is always suggested to request for a bank statement from the bank itself following the proper procedure.