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:
“All the reputedly powerful reactionaries are merely paper tigers. The reason is that they are divorced from the people. Look! Was not Hitler a paper tiger? Was Hitler not overthrown?... U.S. imperialism has not yet been overthrown and it has the atomic bomb. I believe it also will be overthrown. It, too, is a paper tiger.”
—Mao Zedong (1893–1976)
“Science is a system of statements based on direct experience, and controlled by experimental verification. Verification in science is not, however, of single statements but of the entire system or a sub-system of such statements.”
—Rudolf Carnap (1891–1970)