How to Check Bank Statement Online?

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A brief guide explaining the process of checking bank statement online.

Key Takeaways

• Banks enable you to check your bank statements online and keep tab on your balances.
• You can check your bank statement through your bank's Net Banking portal or mobile banking app.
• These platforms allow you to keep tab on your account balances at any time.
• Accessing your bank statement online gives you real-time updates, enables monitoring, helps detect errors, and facilitates financial planning.
• You can check your bank statement periodically online to take control of your finances.

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.

How to Get a Bank Statement Online?

You can follow the below-mentioned steps to check your bank statement online:

1. Visit your bank’s Net Banking portal or log in to the mobile banking app.
2. Select the “e-bank statement” or “e-passbook” option from the menu.
3. Enter the statement period to view the debits and credits of a particular duration.
4. Once done, you will see an option to download the bank statement or receive it on your registered email address.

You can follow the above-mentioned steps periodically to get your bank statement whenever you want and track your transaction history.

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Benefits of Checking a Bank Statement Online

Checking your bank statement digitally lets you enjoy the following benefits:

Real-time Access

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.

Convenient monitoring

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.

Detection of errors & fraud

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.

Ease of financial planning

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.

Enhanced security

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.

Final Note

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.