Paper Statements
Historically, bank statements were paper statements produced quarterly or even annually. Since the introduction of computers in banks in the 1960s, bank statements are generally produced monthly. Bank statements for accounts with small transaction volumes, such as investments or savings accounts, are usually produced less frequently. Depending on the financial institution, bank statements may also include certain features such as the cancelled cheques (or their images) that cleared through the account during the statement period.
Some financial institution use the occasion of posting bank statements to include notices such as changes in fees or interest rates or to include promotional material.
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Famous quotes containing the words paper and/or statements:
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