What is a Bank Statement? How to Read | Money Instructor

How to read and understand your bank statement. Bank statement 101, a beginners guide.
This lesson is a basic overview of bank statements. A bank statement is a document that shows a record of all the financial transactions that have taken place in a bank account over a specific time period. It includes information about the account such as the bank's name, account number, and type of account, as well as a summary of transactions including deposits, withdrawals, and fees. Lesson presented in a entertaining way even kids can understand.
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[@moneyinstructor]

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[@Yournamehere365]

YOOOOOOO I DONT KNOW WHO MADE THIS VIDEO… BUT KEEP MAKING THEM! Bravo brother

[@moneyinstructor]

Thanks!

[@HiKiddies]

Thanks for the video. Just what I needed.

[@Dogfight491]

this is good i am in finace at school learning about this

[@robbygoad2052]

massive L ngl

[@Dogfight491]

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[@NwabisaSeptember]

Great help

[@moneyinstructor]

Thanks!

[@ardenchristophercapadocia7056]

How come the check paid in summary section has negative value -1000, but positive when reflected in the breakdown of transactions two 500 entries? Thank you.

[@moneyinstructor]

Understanding how your check appears on your bank statement can be confusing at first. The summary section might show a negative value for the check you paid, while the breakdown details two positive entries for seemingly half the amount. This difference stems from how banks display debits and credits. The summary section typically reflects the net change in your account balance. Since paying a check reduces your available funds, it's shown as a negative value (like money leaving the bucket). The breakdown, however, details each individual transaction. In this case, the $1000 check might be broken down into two separate deposits of $500 each (potentially to different recipients). So, while the summary reflects the overall money leaving your account, the breakdown shows the individual deposits that make up the total check amount.

[@karengonzalez8635]

Good

[@moneyinstructor]

Thanks

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[@petercole2592]

you could have shown how interest rates are. I came on because I wanted to see what interest means on my bank statement. Is 0.35 less than 1 % or is it 3.5%

[@l.tproductions3489]

I think it's 0.035, sorry for the late response

[@LEGIT_BANK_STATEMENT_CREATOR]

The negative value of -1000 in the summary section indicates that the check payment resulted in a decrease of $1000. However, the positive entries of 500 in the breakdown of transactions show that the payment was divided into two separate transactions, each amounting to $500.

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Ig

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