A debit card statement is also your checking account statement, because all debit card transactions go through your checking account. If you only use your debit cards and not checks, you’ll only see debit card transactions appear throughout the statement, in addition to any transfers made from or to your checking account. If you’re not familiar with financial terms, you may have a difficult time reading your debit card statement. Fortunately, once you learn what each column on the statement refers to, you’ll have an easier time reading it.
Organize the pages by number, starting with page one. Each page should have a page number at the top right corner. Your name and address should be located below the page number and at the top center of the statement. You will see your account balance for the statement period below your name.
Look at the section titled “Checking Account.” This section will display all your debit card transactions for the statement period. Examine the “Date Posted” column. Depending on your bank, the title of the column may vary, but it means the day the transaction was posted to your bank account, and it will appear on the left side of your statement. The date posted does not necessarily refer to when the transaction was made, but rather when it was posted to your account.
Look for the "Amount" column. This column refers to the amount of the transaction in dollars. Money added to your account will have a "+" next to it, while money subtracted from your account will have a "-" next to it.
Examine the statement for “New Balance,” “Resulting Balance” or anything similar. This column should be located next to “Amount” and refers to your balance as of that day after that particular transaction. For example, if you began the month with an account balance of $500, and you made a transaction for $50 on the first of the month, your new balance would be $450.
Look at the “Transaction” or “Description” column. You can view your payment method in this column. If you paid with your debit card, you should see “From card XXXX,” where XXXX is the last four numbers on your card. The exact description will vary from bank to bank, but it will resemble the given example.
Tips & Warnings
- Your bank statement may appear in a different order. For example, one bank may print the transaction description next to the date, while another will print the description next to the account balance.
- Some bank statements include "Debits" and "Credits" instead of "Amount." "Debits" refer to to money subtracted from your checking account, while "Credits" refer to money added to your checking account.
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