Account Statement

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Definition of 'Account Statement'

An account statement is a summary of all transactions that have occurred in a bank account or credit card account over a certain period of time. It typically includes the date, amount, and description of each transaction, as well as the account balance before and after the transaction.

Account statements are important for tracking your spending and managing your finances. They can help you identify areas where you can cut back on spending, and they can also be used to spot potential fraud.

Most banks and credit card companies will automatically send you an account statement each month. However, you can also access your statements online or by calling the customer service number.

It is important to keep your account statements in a safe place so that you can refer to them if necessary. You should also review your statements regularly to make sure that all of the transactions are accurate.

If you notice any errors on your statement, you should contact your bank or credit card company immediately. They will investigate the issue and make the necessary corrections.

Here are some additional tips for using account statements:

* Use your statements to track your spending. This can help you to see where your money is going and to make adjustments to your budget if necessary.
* Review your statements for any unauthorized transactions. If you see any transactions that you did not make, contact your bank or credit card company immediately.
* Keep your statements in a safe place. This will ensure that you have access to them if you need them.
* Review your statements regularly. This will help you to catch any errors or unauthorized transactions early on.

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