Bank statements should detail the financial movement of your account, that is, everything you do must be included in this document. This can help you control your checking account, check balances and transactions made.
How to consult the bank statement?
The customer has several ways to consult the bank statement, can be through the internet, the ATM, the phone or the printed statement. If you want ease and speed, the internet is the best option, because it has the quick access to the bank statement, to check the launches in near real time, remembering that banks usually charge for the statement.
All information about your bank account and investments made at that financial institution such as your check and debit card activities can also be accompanied by the bank statement.
If you do not recognize a transaction, let the bank know that you can avoid damage caused by holes. Always check your bank statement carefully!
Understand your bank statement
A bank statement always has a start date (initial balance in the period) and a final date (final balance) for the current account movement report, the main content of an extract being the movement of incoming and outgoing money.
It includes all operations carried out in a month, from purchases in credit or debit, bank transfers, withdrawals made with the debit card, bank charges, among others.
The information will come in chronological order, according to the dates of each move. At the top of the statement will be the oldest transactions made by the customer and the bottom will be the latest data.
Stay tuned! Be careful not to consider as available money the final balance, which includes the amounts of available credit lines, but the balance without the loans.
Types of bank statement
- Common statement: is the statement requested by the client, referring to a certain period, which can be consulted at any time at ATMs or the internet. The bank charges when the paper limit is exceeded.
- Consolidated monthly statement: is the printed version with all the monthly transactions carried out by mail.
- Consolidated annual statement : This is a statement of the transactions carried out by the customer during the year, with all fees charged. Sending this type of statement is mandatory and can not be charged.
Main acronyms present in a bank statement
All movements are given in codes and letters printed in this document marked with letters. Next, check out some of the main acronyms that are usually present in a bank statement:
Positive and negative balance:
- C: means credit and is used to determine all the deposit movements into account, cash inflow.
- D: means debt and determines all amounts withdrawn or discounted from your account, either through withdrawals, credit card purchases, bill payments, etc. may also include a (-) sign in front of the balance amount.
Current account or savings account:
- C / C: checking account.
- C / I: investment account, or savings account.
- (Dep Ch): deposit by check.
- (Dep. Dinh.): Cash deposit.
- (TB): bank transfers.
- (TBI): Internet bank transfers.
- (TED’s or DOC’s): transfers between different banks, both electronically.
- PGTO, PAG, PAGTO or PG COLLECTION: payment of bank statements (personal expenses, federal fees, credit card bills, etc.).
- AD: automatic debit.
- IOF: tax on financial transactions.
- TRF or TAR: monthly service fee.
- ENC: when rates are posted as charges.
- Dates: This is the period, ie the start date and the end date of the journal entries that are in the statement detailing the day and time the transaction was made.
- CCF (Register of Issuers of Checks without Fund): register maintained by the Bank of Brazil, on behalf of the Central Bank, in which information is stored on issuers of checks without funds.
- Prescribed Check: check that was submitted after the limitation period (6 months after the deadline for submission). In this situation, the beneficiary loses the right of execution, being possible only common action in court to recover the credit.
An interesting tip is to identify all the fees charged by your bank and negotiate discounts or cancel services that do not interest you. That way you can save a little!