Yes, in many cases. If electronic fund transfers (EFTs) can be made to or from your account, banks must provide statements at least monthly summarizing any EFTs that occurred each month. The statements include information about each transaction, including transaction-related fees, and beginning and ending account balances. The bank must provide quarterly statements even if no EFTs occurred.
In any case, if the bank provides periodic statements, at least quarterly the statements must include:
- The annual percentage yield (APY) earned during the statement period, using that term.
- The dollar amount of interest earned during the statement period, and whether it was credited.
- The type and dollar amount of any fees that were debited from the account during the statement period.
- The total number of days in the statement period, or the beginning and ending dates of the period.
Last Reviewed:April 2021
Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.
FAQs
Is the bank required to send me a monthly statement on my checking or savings account? Yes, in many cases. If electronic fund transfers (EFTs) can be made to or from your account, banks must provide statements at least monthly summarizing any EFTs that occurred each month. The statements include information […]
Why am I not getting my bank statements? ›
This could be because you, or if you have a joint account - the other party to this joint account, has opted to go paperless and turned off paper statements.
Do you get a bank statement every month? ›
Every month, your bank prepares a document for you showing all of of your transactions for the past month. This is called a bank statement. It's important to review your bank statement regularly – in part to ensure there aren't any transactions you don't recognize, which could mean fraud.
Do banks send bank statements every month? ›
Bank statements are sometimes sent by post, but most banks provide paperless statements which can be accessed through your online banking or mobile banking app. Bank statements are typically issued on a monthly or quarterly basis by your bank.
Why haven't I received my bank statement? ›
Banks aren't generally required to send you a monthly statement for your deposit account if there wasn't an electronic transfer into or out of the account during the month. Many banks may still create a monthly statement for checking and savings automatically though.
Can a bank refuse to give you a statement? ›
Is the bank required to send me a monthly statement on my checking or savings account? Yes, in many cases. If electronic fund transfers (EFTs) can be made to or from your account, banks must provide statements at least monthly summarizing any EFTs that occurred each month.
Can I ask my bank to send me a statement? ›
You can visit a branch to order an up-to-date statement or a copy of a previous one.
Do banks have to provide monthly statements? ›
Banks are required to provide monthly bank statements for most checking, savings and credit card accounts. That means you probably don't have to do anything to get a bank statement: You should be receiving a paper or electronic statement automatically at the end of each billing cycle.
Does my bank have to send me a statement? ›
If your account has made at least one electronic fund transfer (ETF), for example an ATM transaction, debit card usage or direct deposit, within a given month, your bank is required to provide you with a bank statement. This could be either a paper statement in the mail or an e-statement sent through email.
When should I receive a bank statement? ›
An official bank statement is typically sent by the bank to the account holder every month, summarizing all the account's transactions during the month. Bank statements contain bank account information, such as account numbers and a detailed list of deposits and withdrawals.
Statements of account
(3) A firm must provide a banking customer with a true copy of any statement of account provided to him under (1) on paper or in another durable medium within a reasonable period of time following a request to that effect made by or on his behalf.
What are the requirements for a bank statement? ›
Answer. A bank statement requires some general financial documents. The account holder's name, account number, account type, a mobile number linked to the account, and email address are all necessary.
Do banks charge for monthly statements? ›
Your bank may charge you a fee for printing and sending you a physical copy of your bank statement each billing cycle. It's usually around $1 to $5 each month, but if you don't read your paper statement, it can be a waste of money.
What happens if you don't have a bank statement? ›
If you don't have a paper bank statement as proof of banking, you can download a statement from your mobile banking app to submit. This will still be accepted even if there are no transactions visible. Alternatively, you can provide either of the following: A bank letter.
How often does a person receive a bank statement? ›
A bank statement is a document that provides a detailed summary of all the financial activity that takes place in a checking, savings, or other type of bank account over a specific period, usually monthly.
How do I receive my bank statements? ›
Visit your bank's website. Log in to Online Banking/Digital Banking/Internet Banking/eBanking etc. Click 'statements', 'e-documents', or 'download'
How long does it take for bank statements to come? ›
For paper copies, please remember it can take up to 10 working days to arrive.
How can I get all my bank statements? ›
Visit your bank's website. Log in to Online Banking/Digital Banking/Internet Banking/eBanking etc. Click 'statements', 'e-documents', or 'download'
Why is my bank account not showing transactions? ›
Verify the bank site is not also missing the transaction. If the bank site is missing the transaction, then it will not be available through the feed. Also if the transaction is more than 90 days old and it wasn't pulled in through the feed previously, it will not be pulled into the bank feed in subsequent refreshes.
When should I receive my bank statement? ›
How long is a bank-statement cycle? Most common accounts, such as checking and savings accounts, cycle every 30 days. This can vary by financial institution. Other accounts may provide quarterly, semi-annual, or even annual statements.
