Application for account statements will vary depending on the country you bank in and the type of account access you have.
For example, in India, you may need to submit a formal letter to the branch where your account is held while most Western banking customers can simply log on to online banking and print out their statement instantaneously.
In this article, we’ll discuss the various options and answer many of the common questions related to getting an account statement with a particular focus on banking in India.
However, if you’re looking for a more detailed (and actionable) look into banking in India as a foreign non-resident, specifically NRI bank account opening guidelines, click here and access our free guide.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Application for Account Statement
- Difference Between a Bank Statement and a Transaction History
- Reasons to Request a Bank Statement
- How Do I Write an Application Request For a Bank Account?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
Application for Account Statement
An application for an account statement will vary depending on your country, bank, and account access. If a formal application for an account statement is required, you will need to include your legal name, account number, purpose of the statement, and specific term for which you want to retrieve your account statement. However, certain banks may allow you to print your application directly from your online account or provide you with physical copies by mail on a monthly basis.
Of course, depending on the reason that you need the account statement, there may be specific requirements related to your request. For example, in the case of supporting documentation for personal financing, such as a car loan or mortgage you may need the account statement to be issued and signed directly by the branch manager.
With this in mind, when requesting an account statement, it’s important to outline any specific requirements for the bank to ensure the resulting documents meet your requirements.
Similar to requesting an account statement, individuals who want to close an account will need to follow the proper bank account closing letter format, which you can learn more about by clicking here.
Difference Between Bank Statement and a Transaction History
The main difference between a bank statement and a transaction history is that a bank statement is typically printed on official bank letterhead, includes the name and address of the account holder, and includes a detailed transaction history. On the other hand, transaction history is simply a record of transactions, debits and credits, into and out of a particular account.
For this reason, when requesting an account statement in relation to a formal application for account opening, financing, or other bank services, it’s important to know the specific requirements you need. Likewise, if you do not need a formal bank statement and only need to submit a transaction history, this can usually be obtained much faster.
Reasons to Request a Bank Statement
Reasons to request a bank statement or account statement can vary from supporting an application for a new bank account to applying for a mortgage. However, requesting a bank statement can also support less formal (even personal) requirements, such as tracking finances and maintaining physical records of financial accounts.
Here is a closer look at a few of the common reasons why a bank customer may request a bank statement.
Reasons to Request a Statement of Your Bank Account
- New bank account opening requirement
- Personal loan application requirement
- Mortgage application requirement
- Visa application requirement
- Tracking personal expenses
- Maintaining physical financial records
- And more
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How Do I Write an Application Request For a Bank Statement?
To write an application request for a bank statement you will need to include detailed account information and the specific requirements of your request. This includes your legal name, account number, and period of time for which you require the statement.
However, depending on the specific type of account statement you require, the application process may vary. Likewise, if your bank enables online access to account statements, you may not need to prepare a formal request at all.
Here is a closer look at some of the most common ways to apply for and request a bank statement.
Request Bank Statement via Online Banking
In many cases, you can request a bank statement via online banking if your bank has this option enabled. However, not all banks will issue an account statement on official bank letterhead. With this in mind, depending on your reason for requesting an account statement, you may need to complete a formal application to receive a statement that meets your needs.
Statement Request via a Bank Manager or a Branch Manager
To request a statement via a bank manager or branch manager, you will either submit a formal letter or simply visit a branch and speak with a teller. The option you choose will likely depend on what your bank is willing to provide and your requirements. For example, if you require an account statement including specific information, confirmations, or account periods, you may need to complete a formal application, which we will share below.
Other Ways to Write an Application Request for a Bank Statement
Other ways to write an application request for a bank statement include via email by contacting your bank directly or submitting a request through online banking. However, as with the other methods above, whether these options meet your specific needs depends on the reason for requesting the statement. So, it’s important to confirm the exact details you need an account statement to include before completing an application.
Frequently Asked Questions
Below are three of the most common questions we receive from people asking about an application for an account statement. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
How Do I Write a Current Bank Account Statement Letter?
You do not write a current bank account statement letter. Instead, you would request a bank account statement letter from your bank or print one directly from your online banking. If you need to request a statement letter through a formal application, you will need to include your legal name, account number, purpose of the letter, and the specific dates that you need the letter to include, which is then submitted to the bank where the account is held.
Where Can I Request a Bank Account Statement?
You can request a bank account statement through online banking, over email, by mail, or in person at your bank. Of course, the available statements that are available through each method may vary in terms of detail and information. So, depending on the reason you are requesting a letter, one of these options may be better than the others.
How Do I Request a One Year Statement?
To request a one year statement from your bank you may need to submit a formal letter to your branch. This letter will need to include your name (as it appears on the account), your account number, and the specific term for which you want the statement. Additionally, in order to help the bank in preparing your statement, it is often helpful to share the specific purpose of the letter and whether there are any unique requirements you want them to meet.
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