How to Get — and Understand — a Bank Statement

You can access your bank statement from the comfort of your home in minutes using the bank's mobile app or website. You also have the option of getting it in the mail or from a branch. Ultimately, the best option for how to get a bank statement depends on personal preference and convenience. With all the information this document contains, it is worth making sure you get it.

How to get a bank statement online

At most institutions, you need to opt in to receive your bank statements online and skip receiving the paper version. If you don’t set up electronic statements, your financial institution will continue to mail physical copies — though you may incur a fee.

The process for how to get a bank statement online varies somewhat from bank to bank, but it’s generally as follows:

1. Log into your online account through a web browser or mobile app.
2. Find “Statements and Documents” located on the main menu.
3. Select the paperless or delivery preferences button or link.
4. Choose which accounts you'd like to receive paperless records for (e.g., a savings account or checking account).
5. Save your preferences. (You can always edit them later if you change your mind.)

After changing your preferences, you may still receive statements in the mail if your bank has already sent them out. You should stop getting paper statements when your bank generates the next one.

How to get a bank statement through the mail or from a branch

Bank holders may want to obtain a physical copy of their bank statement for various reasons. One of the main reasons is document retention. Since online accounts typically display a limited number of statements and may charge a fee if you want to retrieve older records in the future, getting a physical copy ensures you always have those records on hand.

Other reasons to get a physical copy of your bank statement include readability, limited technology access or experience, and security concerns.

Most banks send monthly or quarterly statements through the mail by default. If you aren’t receiving your statements, contact your bank to see if your mailing address is current. Should you need a copy of your statement immediately, you can visit your local bank branch and request it.

If you need an older statement, call your bank to see if they still have it. Then ask them to mail it to you or pick it up at one of their branches. You can find your bank’s contact information and hours of operation listed on its website's Contact Us page.

Reading your bank statement: What to look for

A bank statement provides a wealth of information about your account activity within a particular time frame. Here's what you should find in each section of your bank statement:

• Statement cycle. This is the period a statement covers, noted as "statement ending" or "for period of" on your statement. Once generated, statements don’t update with new account information, so transactions made after the statement date will appear in the next cycle.
• Bank information. Your statement should include clear, easy-to-find information about your bank or credit union. It should identify the bank’s name, website, phone number and information about how and when you can contact them if you have questions.
• Your information. Your statement lists your name, current mailing address and account number (usually shown with only the last four digits of your account number for security purposes). This helps verify that the statement is yours and for the correct account.
• Account summary. This section provides a quick snapshot of your account and usually appears at the top of your statement. It lists your beginning and ending balance as well as totals for withdrawals, deposits, purchases and fees, along with other information.
• Account activity. This part of your statement details each transaction that went through your account during the statement period, including deposits, credits, purchases, withdrawals or payments you authorized. It also includes transaction dates, which reflect the date a vendor processed your transaction.
• Fees. Banks may charge monthly service charges, ATM fees, overdraft fees and other costs. If your bank has charged you any fees, they should show up on your statement.
• Interest and credits. In this section, your statement should disclose earnings for interest-bearing accounts, such as reward checking accounts. This summary includes your annual percentage yield (APY), total interest earned during the statement period and year-to-date interest earned.

Why you should review your bank statement

Reviewing your bank statement is an important part of good financial hygiene. Doing so allows you to keep tabs on the following:

• Fees and interest rates. Pesky fees, like overdraft fees or paper fees, can add up if they go unnoticed. Reviewing your statement line by line can help you avoid these costs that may be reducing your earnings. Statements also include notices of fee and interest rate changes, which are important to know about.
• Spending habits. When you skip reviewing your bank statement, you miss an opportunity to go over key information that could help you stay on track financially. Your bank statement shows how much money is going into and coming out of your account each month, which is good information to stay on top of for budgeting purposes.
• Errors or issues. False information can appear on your statement for a host of reasons, like human error, issues with your bank’s system or fraudulent activity. Report any incorrect information, unauthorized transactions or bank errors immediately. You must notify your bank of an error within a certain amount of time to recoup any losses in full.

To help you get in the habit of reviewing your bank statements regularly, consider setting up a monthly routine. You can choose a date every month when you sit down to review all of your statements, perhaps tying them into other financial maintenance practices, such as paying your bills or balancing your budget.

Although it might sound like a burden, reviewing your statements can take only a few minutes, especially once you do it regularly and know what to look for.

How to report an error on your bank statement

If you notice any errors or have concerns while reviewing your statement, contact your bank or credit union directly as soon as possible. Your statement should include a phone number to speak directly with a bank representative. If the error involves unauthorized withdrawals and customer service can’t reverse the charges, consider escalating your case to managers.

Urgency is essential here because, according to the Consumer Financial Protection Bureau (CFPB), you have 60 days from when your bank or credit union sends your statement to report an unauthorized electronic fund transfer. So, it’s best to address any potential errors immediately.

If you can’t resolve an issue with your bank or credit union directly, you can submit an official complaint to the CFPB through its online form. The CFPB will work with your financial institution to resolve complaints, usually within about 15 business days.

Frequently asked questions

How long do banks retain statements?

Banks must retain statements for at least five years for accounts containing over $100. However, banks may retain them for longer than that if they choose to. If you need an older statement, call your bank to see if they still have it. Your bank then can either mail you a copy, or you can pick it up at your local branch.

Do I need to save my bank statements?

You should save your most recent bank statement to compare it against bills and receipts. If you use bank statements to prepare your tax returns, holding onto those records for at least seven years is a good idea. Beyond that, the Federal Trade Commission (FTC) says, you don’t need to store bank statements any longer than a year.

Is it OK to receive only digital copies of my bank statements?

It is OK to receive only digital copies of your bank statements as long as you save them properly. However, many banks limit access to older statements. So download statements and consider maintaining a backup file on an external hard drive or the cloud.

Can a thief steal information from my bank statement?

Even if someone nabs your bank statement, they couldn’t easily steal money from your account. That's because the account number on the statement is no different from the one printed on your paper checks. Even so, leaving your bank statements around increases the risk of financial and identity theft. If you keep bank statements on hand, store them in a private location, and don’t leave any personal information where someone could take it.