When one has a bank account, one receives a document detailing up-to-date information on the status of the account on a regular basis. This document is called a bank statement. The bank statement is usually a printed copy of all the transactions made within the month. It also includes information such as the existing balance and charges, if there are any.
An online bank statement is merely a bank statement in electronic form. This soft copy of the bank statement contains exactly the same information as the printed bank statement. Indeed, sometimes, the online bank statement can be a scanned copy of the paper document.
Many banks today offer the option of providing an online bank statement. Instead of customers having to receive the paper document via the traditional mail, they can simply go online and view their bank statement. You only have to request for an online bank statement and your bank will surely grant your request.
There are many advantages to accessing bank statements online instead of receiving bank statements through the mail. For one, the risk of bank statements getting lost in transit or being stolen for identity theft is practically removed. Another advantage is that less paper is used, something which is beneficial to the environment. More so, having bank statements stored online makes for a more efficient record keeping system. You do not have to keep papers on file. Instead, you only need to go online and go back for as long as you need to.