BANK STATEMENTS: Best Practices & How to Get One Seamlessly

Bank Statements
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Every bank or account owner wants to keep their account safe and secure while keeping track of their money. These, among many other reasons, are why checking your bank statement monthly is not just important but also necessary. Bank statements serve as a great tool that helps account owners keep track of the money that comes in and go out, spot mistakes, and figure out their own personal spending patterns. Generally, customers receive monthly records of their entire financial status from banks and other financial organizations via bank statements. This article explains what bank statements are, sighting Wells Fargo and Bank of America, fake statements, its template, how to get and how long it takes to keep bank statements.


The bank usually issues a bank statement, to describe the transactions that took place during that period when a depositor checks their checking account. A bank statement however is a record of deposits and withdrawals made by the account holder. These, and interest earned and fees charged by the bank, for a specific time period, typically a month.

In other words, a bank statement is a formal record of all of the transactions that take place in a person’s or business’s bank accounts during a specific time period. In general, you should expect to receive an account statement from your financial institution, This includes information related to your account, such as how much you owe by a specific date. However, it is customary to begin a new statement period on the next business day following the conclusion of the preceding one.

Statement information is often not changeable once they have been generated and provided to the customer; any error identified would normally be remedied on a subsequent statement, usually with some documentation explaining the cause for adjustment.

Additionally, customers frequently consult their bank statements to keep tabs on their finances, look for signs of fraud, and do reconciliations. In the past, these documents were printed on a single sheet of paper and shipped to the account owner or stored at the local branch of the financial institution for pick-up. Nevertheless, for ease of account reconciliation, several financial institutions now provide direct downloading of financial data into account holders’ accounting systems. However, because audit and tax purposes, bank statements are often necessitated to be kept for a defined amount of time.

What Is Bank Statements?

A bank statement is a document that summarizes all account holder transactions. during a specific time period of time (typically monthly)

Every month, the bank normally sends an account statement to the account holder, detailing all of the account’s transactions for the previous month. Basically, bank statements provide account numbers and a full summary of deposits and withdrawals. It also shows the initial and closing balances of accounts.

Generally, you can expect all of these in your monthly bank statement;

  • Account number
  • Statement period
  • Home address
  • Deposits
  • Withdrawals
  • Bank’s customer service number
  • How to report errors or fraudulent activity
  • Beginning balance for the time period.
  • Interest or dividends earned
  • Ending balance for the time period

How a Bank Statement Works

In general, a financial institution sends a bank statement to an account holder detailing all of the account’s transactions. The account holder is able to view all of the transactions that have been occurring on their account with this feature. In most cases, bank statements are sent to account holders on the same day each month. The transactions on a statement are also often in chronological order.

In other words, you can get an indication of how much money you’ve deposited into your bank account by looking at your bank statement. Once all the deposits and withdrawals have been reflected in your account balance, you’ll be able to see your final account balance.

Typically, each of the transactions you made will be listed on the bank statement below the summary, along with the dates, amounts, and payees. However, a bank statement for a checking account can be as long as several pages, This, however, depends on how frequently you use your account to pay for things. In most cases, you can see your transactions in chronological order. You’ll be able to see how much money is coming in and going out of your account each month by looking at the complete transaction list.

The source of the deposit and the location of the expense is also included in your transaction details. Make sure all transactions, especially those involving expenses, are correct before moving on to the next step.

Fake Bank Statements

In today’s world, bank statement manipulations are becoming more prevalent. Criminals can use fake bank statements to perpetrate a variety of offenses, including falsely opening a bank account. In addition to becoming more sophisticated, fraudsters are also using new technology to produce near-perfect bank statements. While the requirements they impose are too high for manual verification procedures to keep up with. In order to cut down on fraud as much as possible, it is imperative to be identifying fake bank statements. However, to detect fake bank statements one can use a few standard approaches.

Fake bank statements are still an issue, and with the epidemic wiping out millions of jobs, this has only exacerbated it. Undoubtedly, fake banking is becoming an increasingly bigger headache for banks, and financial institutions. And also property owners as a result of this situation. In September 2020 for instance, the percentage of people using false bank statements rose from 15% to 29%.

The problem is getting more serious because of the fact that one out of every four applications goes with nobody detecting. This among other factors has led to the rise in the number of fraudulent applications and can be attributable to the lack of adequate verification methods. Basically, you cant detect fake bank statements using manual verification procedures. Fraudulent applications can be combated through the use of automation and data usage.

Nevertheless, to identify fake bank statements, you can employ the following;

#1. Verify that all Figures Match Up

A typical fraudster error is not checking that all the numbers on the bank statements tally up. If there isn’t enough money for automated verification, you’ll have to spend time adding up the numbers. Regardless, one thing to bear in mind when recognizing fraudulent bank statements is that they frequently employ round digits. Round values are frequently a red flag when evaluating a bank statement.

#2. Contact a Bank Rep

If you are unsure if the bank statement you receive is authentic or fake, you can contact a banking representative. Call the bank directly, don’t rely on the statement’s information. Once you reach a bank representative, confirm all details.

#3. Look for Inconsistencies and Errors

The significant and tiny anomalies in the bank statements are the first possible red flag. Check the font size and typeface, are they compatible with all other bank documents? What about the bank’s logo, is it correct and up to date? Do the figures add up and the final balance makes sense? Are there any questionable withdrawals? If your bank statements show any of these discrepancies, do more research.

#4. Online Document Verification

In general, manual verification has many advantages, but it also has certain drawbacks. Nevertheless, using technology, you can tell fraudulent documents from legitimate ones. It verifies documents instantaneously and gives strong proof of verification with verifiable credentials.

Bank Statements Wells Fargo

Most accounts at Wells Fargo Online allow you to receive and view bank statements online. Meanwhile, it is true that your Wells Fargo Online bank statements are the same as your paper statements and are regarded as official documents. Basically, all of the information from your Wells Fargo paper statements can also be found on your online bank statements. A printed copy of Wells Fargo Online bank statements is identical to a paper statement mailed by the United States Postal Service.

In addition, the online delivery of bank statements by Wells Fargo is free. Nevertheless, to access your online personal and corporate accounts, simply register for a username and password. However, if you have already signed up, you can sign in using a login and password, to access your online statements. Likewise, you can access Statements and Documents and select Manage Delivery Preferences from the drop-down menu to alter how you receive your statements and other documents.

In Summary, with Wells Fargo online bank statements, you can;

  • You may quickly and conveniently retrieve previous bank statements using Wells Fargo Online Statements.
  • Reduce the possibility of fraud and theft of personal information by eliminating the need for paper statements.
  • Print only what is necessary to reduce clutter.
  • When your statements are ready, you’ll be notified through email.

Bank Statements Template

Typically bank statements template, which account holders receive on a regular basis, is a useful tool for keeping track of their financial transactions. For instance, a bank statement template lists all of your transactions from the date of your most recent statements up until the end of a specified time period.

In other words, customers of banks and other financial institutions receive bank statements template. It usually lists all of the transactions that have taken place in their accounts over a specified period of time. Typically, banks deliver these bank statements template to their customers on a specific date each month. 

For banks, it is usual practice to provide statements of all the transactions that have occurred, referencing all of the financial dealings that their clients have undertaken monthly, and then provide this information in a template. However, it is common for this statement to begin with the previous month’s opening balance. While ending with the current month’s closing balance.

It is becoming more common for certain banks to offer their customers electronic bank statements template via email. There are some banks that allow you to choose between receiving your statements’ template copies in printing form or receiving them via email.

You should always check your bank statement template when you receive them as an account holder since it may contain errors. You should contact your bank immediately if you notice any inaccuracies in your account.

How to Get Bank Statements

Basically, you can get your bank statements in two ways;

How to Get a Bank Statements Online

Internet deposit and credit card banking are now widely available at most institutions. While you can carry out bank transactions quickly and easily using this method. You can also access or get your bank statements through your online banking.

Downloadable PDFs of your most recent remarks should be made available. Depending on the bank, there may be a “Statements” link at the top of the page, either under “Account” or “Account Services.” Hence, you can download your bank statements in PDF format after you find this page. It’s also possible to choose a time period and a certain user account. Regardless, there’s a chance you may have to request a PDF of your bank statements from time to time.

In addition, the primary page of your account should provide a transaction summary, as well as downloadable PDF statements. Meanwhile, it’s also possible to separate a statement cycle from all transactions. So, if you’re looking for a quick way to look at recent credit and debit card transactions, this is it.

Most banks allow you to get your statements online so that you can become paperless. Thus, this is how you see your statements when you don’t use paper; Download and save your statements to your computer on a regular basis so that you have them on hand for future reference.

How to Get a Bank Statement by Mail or in the Branch

In general, for those who want a paper statement, there are a few options. Visit a bank branch or request the statement by mail. This, especially if you require an older statement or a physical copy that isn’t readily available online.

However, if you don’t have time to wait for the mail, a visit to a local bank branch may be the fastest choice. Even so, you may want to check with the branch first to see if they can help you. For those who can’t make it to a branch, on the other hand, you can request a copy be sent to you via mail or over the phone.

Nevertheless, be sure to inquire about any fees before proceeding with a request for a physical copy of your bank statement.

Bank Statements Bank of America

If you use Online Banking, you can finally ditch the paper receipts. After your next document cycle, your new paperless settings should take effect. Meanwhile, to avoid receiving paper statements, you can cease receiving them. Instead, you may access your statements through the Mobile Banking app or Online Banking at any time and do so with complete security.

On the contrary, ordering a paper copy of your statement is possible. Accordingly, for a period of seven years, Bank of America preserve a copy of each of your declarations. However, if you use Online Banking, you can also order a paper statement copy. You can do this by simply logging into Online Banking, going to the Request statements tab, and selecting Order a paper statement copy under the Accounts tab. After submitting your request, a paper statement will be sent to you within seven to ten business days.

Nevertheless, it is important to know that, ordering paper statements via U.S. mail may incur a cost. Anyways, you can refer to the Personal Schedule of Costs to learn which fees may apply to your account.

In addition, stopping the delivery of your paper statements has numerous benefits, including:

  • You may be able to lessen the risk of postal fraud or identity theft by following a few simple steps.
  • Using Online Banking, you get the same information as you would if you were to print off your statement.
  • A monthly email informs you that your statement is ready for viewing and printing online.
  • Before your paper statements arrive, you can access your online statements.
  • In addition to the online versions, hard copies of statements are available upon request. BoA keeps copies of statements for 7 years
  • Check Safekeeping allows you to re-enable paper statements or check images at any time.

To manage your paperless settings:

  • Log in now to Online or Mobile Banking
  • From your account details, select Statements and Documents.
  • Select Manage your Paperless Settings.
  • Choose Online Only and select Save Changes.

How Long to Keep Bank Statements

Normally, an instance may bring up situations where you will need your statement. Let’s say you may need to look back at your bank statements from the past year or two. Despite the fact that your bank account has been closed, you should still be able to see your bank statements. Typically, the law requires banks to keep records of your bank statements for at least five years, and you should be able to access them within that time frame. However, some banks charge a fee to obtain statements that are more than a year or two old. It all depends on the bank anyways.

Likewise, you can download statements from the past and store them in an encrypted folder on your computer or keep them on paper as backups. You should always destroy paper copies of bank statements when you need them no more, while also deleting electronic copies.


Bank statements show you just how much money you have coming in and going out on a regular basis. You can keep track of your spending and savings as well as look for any irregularities by reading your statements. Besides, the most important thing you can do for your financial well-being is to keep an eye on your finances.

Bank Statements FAQs

How can I acquire a mini statement from the ATM?

  • Insert ATM card.
  • Choose your language
  • Enter the four-digit secret Pin number
  • Make a new transaction by clicking the “Other” option.
  • Right-click and select “Mini Statement.”
  • To complete the transaction, press “NO.”
  • Don’t forget to remove your ATM Card from the machine before leaving.
  • Also, don’t forget to get your receipt from the machine.

Is it possible to obtain forged bank statements?

Despite the fact that bank statements template can be created, they cannot be used as official papers by anyone. A lot of people download templates to compare to the one provided by their bank for their own use. Do not attempt using fake bank statements if you receive one.

What can one learn from a bank account statement?

Account activity is summarized in official bank statements, which are visible in a template, for a given period of time, often one month. When you log in to your account, you’ll be able to see all of your transactions, both entering and outgoing.

What does using a bank statement template looks like?

The bank statements template should be examined when comparing the information in your account with that on the bank’s records, as there may be differences. Report any differences to the bank as soon as possible. You can call them, but it’s best to explain your position in writing.

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