Advantages of Online Bank Statements

by Gil on June 1, 2017

A statement of bank account is a summary of the balance and transaction history of the account for a particular period normally in a financial quarter or year. In the past, a bank account owner would request the bank to send his or her statement of account through mail post when it is needed immediately.

However, because of Internet banking, statement of account can be now downloaded or get online and then printed in the comfort of your own home. As a result, if you need it as a requirement, you don’t need to go to your branch just to request for your statement of account.

Advantages of Online Bank Statement

Obviously, one best advantage of online bank statement over paper statement is its availability anytime of the day. You simply log-in to your online banking account, and there it is. Just download it to your computer and print it so you have a hard copy.

In addition, with online bank statement, you can easily know your account and transaction history with the click of the mouse. No need to line up in the bank or the hassle of driving to your branch so you can save some time and fuel.

Normally, the online statements are PDF versions which can be accessed within  Internet banking. However, you need first to register or opt-in to receive an online statement. Most banks will send you email or notification within your online banking telling you if you want to get a printed copy or online statement of your bank account.

After, you chose to receive the online statement that is the only time you can get it through your Internet banking. Also, you will not anymore receive the paper statements for that account you opt-in.

Benefits of Online Bank Statements

Some of the benefits you can get from statement are secure 24/7 access to statements through Internet banking, storage for up to several years from date of enrollment, print your account statements anytime you want, email notification whenever a new online statement is available and reduction of your paper consumption thus helping to protect the environment.

With online bank statement, you can get an instant history of your transactions with your bank account so it is better to register to this kind of service.

Do you find online statement beneficial? Do you use it most of the time?

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