Bank Statement

byPaytm Editorial TeamLast Updated: August 19, 2025

Meaning

A Bank Statement is an official record issued by a bank that shows all transactions in a customer’s account over a period of time.

Uses

It lists deposits, withdrawals, transfers, and charges, helping customers track their finances. Bank statements are also used as proof of income or address.

Benefits

Serves as an important legal document

Helps in financial planning

Detects unauthorized transactions

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