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Account Statement
An official summary of all transactions and activities that occur in an account over the course of a given period of time.
More Details
An account statement is a paper or electronic document that shows a detailed record of all the transactions that have occurred in a financial account over a given period of time, usually one month. Account statements are commonly used for bank accounts, investment accounts, and credit card accounts.
Example
If you have an account at MCU, you’ll receive a statement pertaining to that account that will show you a summary of all transactions in that account over the course of a given period of time.
Related Terms
Inactive Account
A financial account that has not had any activity or transactions for a long period of time.
Flexible Spending Account (FSA)
A tax-advantaged savings account that allows individuals to set aside money for qualified expenses.
Federal Reserve
The US central bank, responsible for monetary policy, bank regulation, and government financial services.