Bank Statements

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What is a bank statement?

Back

A bank statement is a summary of all transactions in a bank account over a specific period, including deposits, withdrawals, and the account balance.

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How often do you receive a bank statement for a checking account?

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Monthly.

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What information is typically included in a bank statement?

Back

Account holder's name, account number, transaction history, balance, and statement period.

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What is online banking?

Back

Online banking allows customers to manage their bank accounts and perform transactions via the internet.

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What is the purpose of a bank statement?

Back

To provide account holders with a record of their financial transactions and current balance.

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What does 'electronic funds transfer' mean?

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A method of transferring money electronically from one bank account to another.

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What is a checking account?

Back

A checking account is a type of bank account that allows for deposits and withdrawals, typically used for everyday transactions.

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What is a deposit?

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A deposit is money added to a bank account.

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What is a withdrawal?

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A withdrawal is money taken out of a bank account.

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What does the term 'balance' refer to in banking?

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The balance is the amount of money available in a bank account at a given time.