A brief guide explaining the process of checking bank statement online.
Gone are the days when visiting the bank physically was the only way to get a statement of your financial transactions. In this modern, digital age of banking, you can access your bank statements at your fingertips. You can find your entire transaction history online, in a tabular, chronological format. You can view summaries of your total debits and credits, and the closing balance. Banks automatically update the debit and credit values at the end of each transaction. If you wish to know how to check bank statement online, this article is for you.
You can follow the below-mentioned steps to check your bank statement online:
You can follow the above-mentioned steps periodically to get your bank statement whenever you want and track your transaction history.
Checking your bank statement digitally lets you enjoy the following benefits:
provides real-time access to your transaction history, account balance, and a detailed bank statement instantly. You need not worry about waiting in queues at bank branches or the restrictive banking hours.
An e-bank statement provides detailed information about your transactions, including dates, amounts, payees, and transaction type. Such detailed summary helps you conveniently track your expenses and receipts.
By regularly checking your bank statement online, you can promptly identify errors, discrepancies, or unauthorised transactions. Hence, you can report them to your bank to resolve the issue at the earliest.
When you track your transaction history with online bank statements, you can strategically control excessive expenditure. You can make informed decisions about budgeting, savings, and investments to effectively manage your finances.
You must enter your bank credentials and authenticate your identity through login IDs and One Time Passwords (OTPs) to check your bank statement online. Such security measures help you avoid unauthorised access to your bank details.
With online bank statements, you can access information about your transactions anywhere, anytime without any hassles. You can use the real-time update of your account to make informed financial decisions. If you notice a high spending record in the past few months, you can identify what is going wrong and take corrective steps. Your e-bank statement serves as a wake-up call to keep your finances in check. For easier accessibility, you can use your banking app to check your bank statement with just a few clicks.
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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.