How to Check a Bank Statement

Most banks send their account holders a bank statement in the mail every month. Some people just toss the statement to the side without opening it when they receive it instead of checking that the information contained on the statement is accurate.

It is very important that you check the information on your bank statement every month to make sure the information is accurate.

• A bank statement should be opened and reviewed as soon as it is received. This is the best way to catch any errors in a timely manner. If an error is found you should bring it to the attention of a banking representative so the error can be corrected. Some banks will only correct an error if it was reported within 60 days of the error occurring.


• Compare the dates on your statement with the entries you have made in your check register to make sure everything matches up. It is not uncommon for something to accidentally get charged to your account twice.


• Review the statement in its entirety, which would include the opening balance, withdrawals, debits, fees and checks.


• Examine all of the debit card transactions because it is not uncommon for a retailer to enter a transaction twice. It is highly recommended that you keep your receipts until you have received your bank statement so the amounts can be compared. 


• Examine the statement for any unauthorized transactions. If you notice something you did not authorize inform your banking institution as soon as possible.