Everything you need to know about bank statements and how to read them.
Bank statements are essential in keeping track of your account activity each month. A bank statement is a document that your financial institution gives you, the account holder. It lists the transactions on your account over a set amount of time, usually monthly. Reviewing your statements regularly offers great insights into your spending habits and help with budgeting. You can choose to receive paper statements by mail, or electronic statements (eStatements) when you sign in online or through the Scotia mobile app. Each account you hold should have its own statement. This includes chequing and savings accounts, credit card accounts, lines of credit, mortgages, investments, and small business accounts.
It’s a good idea to review this information regularly to make sure it’s correct and to check for any discrepancies.