A bank statement is a very basic and essential part of a bank’s workflow. A bank statement is known as the record which is sent to the account holder at every month’s end. It contains all the transactions and taxes deducted from the account during the month as well as the record from all the previous statements from all the entirety of the time the account was active. It is the responsibility of the consumer/account holder to carefully check and keep in order all of the financial transaction records.

There are some financial organizations/institutes that use some specific occasions in order to post the bank statement that also includes the changes in the interest rates or the fees or it may also include promotional items.

Nowadays, the mail that is sent monthly containing the bank statements is a trend in a lot of countries. However, it is not compulsory to use in some countries like Japan where the individual account holders are responsible to keep track of all the deposits, withdrawals and all the balance inquiry using the passbooks of their ATMs.