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eStatements
An electronic version of a bank or credit union statement, which is a summary of an individual's account activity and current balance.
More Details
An eStatement, also known as an electronic statement, is a digital version of a paper statement that is typically provided by a bank or other financial institution. It is an electronic version of a paper document that includes information about your account activity, such as deposits, withdrawals, and balances.
Example
You became a member of MCU and opened a basic savings account. Shortly thereafter, you began receiving eStatements showing a summary of your transactions and account activities.
Related Terms
Statement Period
The length of time covered by a bank or credit card statement, typically one month, used to determine which transactions are displayed.
Late Fee
A penalty charged by a lender to a borrower who fails to make their required minimum payment on time.
Mobile Check Deposit
A feature in a banking app that allows a user to deposit a check into their bank account, typically by taking pictures of the check.