When Do You Get Your Bank Statements?

A bank statement provides a summary of all financial activity within an account over a specific period. This document details transactions like deposits, withdrawals, transfers, fees, and interest, offering a clear record of money moving into and out of the account. It serves as an official document that helps account holders track their spending, reconcile their records, and identify any unauthorized activity.

Statement Generation Frequency

Most banks generate statements monthly for checking and savings accounts. The exact date varies based on the bank’s internal processes and when the account was initially opened. A statement might cover from the 10th of one month to the 9th of the next, rather than a calendar month.

The statement is compiled after this period closes. While monthly statements are standard, other frequencies like quarterly or annually may apply to certain account types. Some savings accounts might receive quarterly statements.

Banks are generally required to send a monthly statement if an account has at least one electronic fund transfer during that month; otherwise, they might send a quarterly statement. The generation date occurs on the last day of the defined cycle, though a holiday might shift it to the next business day.

Delivery Methods and Timing

Bank statements are delivered through various methods, primarily physical mail or electronic access. For those who choose physical mail, statements are typically sent out within 3 to 7 business days after the statement period closes. The arrival time can then depend on postal service delivery schedules.

Electronic statements, also known as e-statements, offer a faster and more secure alternative. These statements usually become available online on or shortly after the statement closing date, often within 24 to 48 hours. Customers typically receive an email notification when their new e-statement is ready for viewing, allowing for prompt access.

Most banks provide the option to switch between paper and electronic statements, a preference that can usually be managed through the bank’s online banking portal.

Accessing Past Statements

Accessing past bank statements through online banking platforms. Account holders can log into their online account, navigate to a “Statements & Documents” section, and select the desired account and date range to view or download statements. Most banks provide several years of statements digitally, retaining them for up to seven years.

For statements older than what is available online, or for those who prefer not to use online banking, direct requests can be made to the bank. This often involves contacting customer service by phone, visiting a local branch, or submitting a written request.

While online access is usually free, banks may charge a fee for retrieving and providing copies of older or physical statements, with fees ranging from $5 to $50 per statement. It is advisable to specify the exact account and date ranges needed for any such request.