What Does a Bank Account Statement Look Like?

A bank account statement provides a detailed summary of all financial activities within an account over a specific period, typically a month. It serves as a comprehensive record of money flowing into and out of your account, offering transparency and insights into your financial health. Reviewing these statements helps account holders track expenses, manage budgets, and identify any discrepancies or potential fraudulent activity.

Essential Statement Components

At the top of a bank statement, you will find identifying information. This includes the account holder’s name and mailing address. The bank’s name and contact information, such as its address and customer service number, are also displayed.

A specific account number is listed, often partially masked for security purposes. The statement period, indicating the start and end dates covered by the report, is clearly defined.

Decoding Transaction Activity

Bank statements list transaction activity, typically presented chronologically. Each entry includes the date, a description of the activity, and the amount involved, distinguishing between money added (credits) and money removed (debits). Some statements also show a running balance, reflecting the account’s balance after each transaction.

Deposits, such as direct deposits from an employer, cash deposits, or checks, are recorded as credits, increasing the account balance. Withdrawals, on the other hand, are debits and include actions like ATM withdrawals, purchases made with a debit card at a point-of-sale (POS), or checks that have cleared. Electronic transfers, like online bill payments or transfers between your own accounts, also appear, with funds moving in or out depending on the transaction type.

Fees charged by the bank, such as monthly service fees, ATM fees for out-of-network transactions, or overdraft fees, are also listed as debits. Overdraft fees, for instance, can average around $25 to $35 per transaction when an account spends more money than it has available. ATM fees for out-of-network usage can combine charges from your bank and the ATM owner, averaging around $4.77 per transaction. If applicable, interest earned on savings or certain checking accounts will appear as a credit.

Summarizing Your Financial Position

Beyond the individual transaction details, a bank statement provides summary figures that offer a holistic view of your financial position for the period. This section typically starts with the “Beginning Balance,” which is the total amount of money in your account at the very start of the statement cycle. This balance forms the baseline for all activities reported.

Following this, the statement aggregates all money added to the account, often labeled as “Total Credits” or “Total Deposits.” This sum includes all incoming funds, such as paychecks, transfers received, or cash deposits. Conversely, the “Total Debits” or “Total Withdrawals” represents the sum of all money that left the account during the period, encompassing all purchases, ATM withdrawals, bill payments, and transfers out.

The statement also often itemizes “Total Fees” incurred during the period, providing a cumulative figure for charges like monthly maintenance fees or overdraft penalties. Finally, the “Ending Balance” is presented, which is the amount of money remaining in your account at the close of the statement period. This ending balance is derived by taking the beginning balance, adding all credits, and subtracting all debits and fees, allowing for a clear understanding of the overall financial movement within the account. These summary figures are instrumental for reconciling your personal records with the bank’s data, helping to identify any discrepancies or unauthorized activity.