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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
Payroll Deduction
The deductions made by an employer from an employee's paycheck prior to direct deposit, usually to pay for elected benefits.
Mobile Payments
A way of making transactions using a mobile device, such as a smartphone or tablet, often made using a mobile payment or banking app.
Fair and Accurate Credit Transactions Act (FACT Act)
A federal law that aims to protect consumers from identity theft and fraud by providing greater access to and control over their credit information