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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
Authorization
The process of verifying that a person has the right to use a particular credit or debit card for a transaction to protect against fraud.
Check
A written instrument that directs a bank to pay a specific sum of money to the bearer or named payee.
Certificate of Deposit (CD)
A type of savings account that offers a fixed interest rate and a fixed term of deposit, typically ranging from a few months to several years.