If you are looking for essential tools for reaching your financial goals, a Bank Statement can help you do that. It is a document showing details about account activity and account balances over the last month or quarter. Using this information, you can balance your account, review spending, and spot errors or fraud before they become problems.
You should look at these reports regularly in order to make the most of your money and protect your savings from any unnecessary issues. We have thoroughly described what a bank statement is and provided steps on how to use it. If you wish to learn more, continue reading on below because we’ve got the information that you need!
Editor’s Note: If you are interested, be sure to check out these promotions from other banks such as HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, BBVA Compass Bank or CIT Bank.
 | HSBC Advance checking account: Get $350 when you open an Advance checking account, fund account with at least $5,000 in New Money in combined checking and savings accounts within 30 calendar days of account opening and maintain balance for 90 days AND set-up monthly direct deposits from a third party into the checking account for 3 consecutive months Member FDIC Terms |
 | Discover Online Savings Account: Earn $200 Bonus/$150 Bonus with promo code HMB819 by 09/09/2019 along with high interest rate of 2.00% APY. Fund your first savings account with a minimum of $25K by 09/23/2019 to earn the $200 Bonus. No minimum opening deposit, no minimum balance requirement, and no monthly fees. See advertiser website for full details. Apply Now---Discover Savings Review |
 | Huntington 5 Checking: Earn $200 bonus when you open a Huntington 5 Checking account and make total deposits of at least $1,000 within 60 days of account opening. The $200 bonus will be deposited into your Huntington 5 Checking account after all requirements are met and your account is open for 90 days. Apply Now---Huntington 5 Checking Review |
 | Chase Total Checking® + Chase SavingsSM: Earn $200 bonus when you open a new Chase Total Checking® account and set up direct deposit. Additionally you can earn a $150 bonus when you open a new Chase SavingsSM account, deposit a total of $10,000 or more in new money within 20 business days & maintain a $10,000 balance for 90 days. Apply Now---Chase Checking & Savings Review |
What Is a Bank Statement?
How To Use a Bank Statement
- Balance your account: You should balance your bank accounts every month. You must review every transaction on your bank statement and compare to your own records of what’s happening in your account. This helps ensure that you and your bank are on the same page as to how much you have in your account, how much was added, and how much was removed. Occasionally, you’ll find differences that can clear themselves up but sometimes you’ll see serious problems that might need immediate attention.
- Identify fraud and errors: If you see anything unexpected on your bank statement, find out if the transaction to see if it’s a result of theft or a bank error. Do not worry because in most cases, the federal law protects you from losses. The sooner you notify your bank, the more protection you have so do not wait. However if you wait more than 60 days to report the problem, you might become responsible for losses in your account.
- Understand spending and income: If you want to know where your money goes, your transaction history tells a detailed story that can help you track your spending. If you need to make changes to your budget, your statement can show you what the impact will be and it will hold you accountable for the upcoming month.
- Know how much you have: You should make it a habit to check your bank account every now and then or sign up for account alerts. Monthly statements provide a regular opportunity for you to check in and see where you stand. You might not know how much money you have in your checking and savings account which could cause overspending. You’ll reduce the chances of missing payments and having to pay penalty fees due to insufficient funds if you keep tabs on your account.
- Document your finances: Bank statements are useful when applying for loans, and in other situations where you need to document your assets and income. Places often require two or more bank statements when you apply for large loans such as house loans or car loans.
 | HSBC Premier checking account: Get $750 when you open a Premier checking account and receive monthly direct deposits totaling at least $5,000 into your checking account for 3 consecutive months from the second full calendar month after account opening. Member FDIC Terms Receive monthly Direct Deposits totaling at least $5,000 into your checking account for 3 consecutive months from the second full calendar month after account opening |
 | TD Bank Checking Bonus: Earn $300 with the Beyond Checking account when you receive direct deposits of $2,500 or more within 60 days of opening your account. Earn $200 with the Convenience Checking account when you receive direct deposits of $500 or more within 60 days of opening your account. Apply Now---TD Bank Checking Review |
 | Chase College CheckingSM: Get $100 as a new Chase checking customer when you open a Chase College CheckingSM account, enroll in paperless statements and complete 10 qualifying transactions within 60 days of account opening. The account comes with free Chase Debit Card, Mobile Check Deposit, Banker guidance, Text banking and QuickPay with Zelle. Get Coupon---Chase College Checking Review |
 | Chase Premier Plus CheckingSM – Earn $300 bonus when you open a new Chase Premier Plus CheckingSM account and set up direct deposit. The Chase Premier Checking account comes with free Chase Debit Card, free Online Banking and Online Bill Pay, free Mobile Banking, free Account Alerts, and free access to 16,000 Chase ATMs & nearly 5,000 branches. Apply Now---Chase Premier Plus Checking Review |
Bottom Line
In general, a bank statement is a document that shows details about your account activity and balances over the last month or quarter. As a precaution to prevent fraud or other errors, you should make it a habit to check your bank statement regularly.
It is very simple to use a bank statement to your advantage so don’t miss out! Check out HMB’s in-depth list on Best Bank Account Bonuses, Credit Card Promotions, and Saving Rates.
| PROMOTIONAL LINK | OFFER | REVIEW |
| Chase Premier Plus CheckingSM | $300 Cash | Review |
| Chase Total Checking® + Chase SavingsSM | $350 Cash | Review |
| Chase Total Business Checking® | $200 Cash | Review |
| Chase SapphireSM Checking | $750 Cash | Review |
| Simple High-Yield Checking | $500 Cash | Review |
| Discover Bank Online Savings | $200 Cash | Review |
| HSBC Premier Checking Member FDIC | $750 Cash | Review |
| HSBC Advance Checking Member FDIC | $350 Cash | Review |
| Huntington Asterisk-Free Checking® | $150 Cash | Review |
| Huntington 5 Checking | $200 Cash | Review |
| Chase College CheckingSM | $100 Cash | Review |
| You InvestSM by J.P. Morgan | $625 Cash | Review |
| Chase Private Client | $1,250 Cash | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience CheckingSM | $200 Cash | Review |
| Discover Cashback Debit Account | $360 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $500 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $200 Cash | Review |
| Chase Ink Business PreferredSM Card - Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards® Apply Now---Chase Ink Business Preferred Card Review |  |
| Ink Business UnlimitedSM Card - Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. Earn an unlimited 1.5% cash back on every purchase made for your business. Apply Now---Chase Ink Business Unlimited Card Review |  |
| Chase Ink Business CashSM Card - Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Apply Now---Chase Ink Business Cash Card Review |  |
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