Also known as an account statement, it’s an important document that helps you see what’s going in and coming out of your account.
You can get bank statements for both current accounts and savings accounts. Your current account statement will show all deposits, withdrawals, Direct Debits, and bank transfers.
For savings accounts, your statement will usually show money paid in, any withdrawals and interest earned.
To receive bank statements, you will need to have a bank account. Once your account is opened, there are a few different ways to get your bank statements:
You can also opt out of receiving paper statements and manage your account online.
Explore: How to get a bank statement online
It’s a good idea to keep your bank statements for at least 1 year. This helps with record-keeping and sorting out any issues that might come up.
Your bank will keep your bank statements for up to 5 years, even if you close your account.
Your bank statements contain personal information, including your name, address, account number and sort code. To protect your personal information, only send your bank statements to trusted companies.
It is best to use secure methods to send your statements, such as encrypted email or secure file-sharing services.
You should avoid throwing away private documents, such as financial bank statements, in the bin.
As well as your personal details, statements contain information about your spending habits and banking history, which can put you at risk of fraud or identity theft.
Don't take any chances – shred the statements even if the account is closed.
You can use your bank statement as proof of address, as long as it is recent (dated within the last 3 months) and includes your current address.
Below are some abbreviations you may find on your bank statement:
