Learn How to Check Your Bank Statement Online

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Key Takeaways

• e-bank statements provide the convenience of accessing and monitoring your financial transactions online.
• You have two ways to look at your bank account online: Net Banking and mobile app
• The online banking systems let you monitor your accounts constantly and provide real-time balance updates.
• Online review of your bank statements helps you to be informed about your situation, properly manage available funds, and spot erroneous transactions or fraudulent activity.

The days when personally visiting a bank was the only way to get a record of your financial activities are long gone. These days, with digital banking, you may easily view your bank statements. Online, your whole transaction history is clearly arranged in a chronological order. The bank automatically updates the summaries of your total debits, credits, and closing balance after all of the transactions. If you are interested in reviewing your bank statement online, we have the information you need.

Use these instructions to view your bank statement online

1. Sign in to the mobile banking app or visit your bank's Net Banking portal online.
2. From the menu, select "e-bank statement" or "e-passbook" option
3. By entering the statement period, one can view the debit and credit information for a particular time frame.
4. Choose to get the bank statement at your registered email address or download it.

These guidelines will help you routinely view your bank statement and access your past transactions whenever you need them.

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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

Gain instant access to your account balance, transaction history, and detailed bank statements right away, without having to wait in line at the bank or adhere to restrictive banking hours.

Convenient Monitoring

An e-statement from the bank offers comprehensive details about your transactions, such as the dates, amounts, payees, and types of transactions. This detailed summary makes it hassle-free to keep track of your financial activities.

Detection of Errors and Fraud

Checking your bank statement online regularly allows you to quickly identify errors, discrepancies, or transactions that you didn't make. This allows you to promptly report any issues to your bank, thereby guaranteeing that they are resolved as soon as feasible.

Financial Planning

Made Easier Regular tracking of the transaction history with online bank statements allows you to strategically manage your finances. You can make informed decisions about budgeting, savings, and investments, helping you in effective financial management.

Enhanced Security

In order to access your bank statement online, you must verify your identity by entering your bank credentials, using One-Time Passwords (OTPs), login IDs and passwords. Your bank details are safeguarded by the security measures, which discourage unauthorized access.

Cost-effective and Supports Sustainability

Choosing digital statements helps to lower the carbon footprint of the financial operations, so supporting environmentally beneficial behavior. Furthermore, using online statements can help to significantly lower the needless cost related to courier and handling charges for obtaining paper statements.

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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.