When you may need a bank statement

No legal act has a description of exactly what form a bank statement should take. Every bank statement has a different form and designation. 

What information is contained in the document

A bank statement or statement contains data showing the actual financial situation of account holders. It contains information about all monetary transactions (accruals, expenditures) for a specific period. Some government agencies and institutions require a bank statement when applying for any services, as the document is a confirmation of the client's solvency.

When a bank statement is required

This financial document is mandatory when applying for a visa (including for visits to Schengen countries). It may be required for confirmation:

• the financial solvency of the traveller;

• the availability of sufficient funds for the duration of the trip, in accordance with the requirements of the particular country.

This certificate is requested by employees of consulates, as well as immigration services, as a confirmation that the visa applicant has a high and stable income in the country of residence, and he has no intention to migrate to another state for the purpose of illegal employment. In addition, a bank statement is a guarantee that the applicant has the financial ability to pay for all expenses arising during the trip, the purchase of a return ticket.

An extract may also be required in other cases:

• applying to a bank for a loan;

• applying for participation in tenders;

• negotiating with business partners, investors;

• for reporting (allows you to evaluate the movement of funds in your account);

• submission to tax authorities;

• as evidence in court (at the request of judicial authorities, prosecutor's office); in case of any conflict situations regarding confirmation of doubtful transactions, a document certified by the bank will act as proof of existence/absence of transaction;

• for accounting automation;

• as proof of erroneous write-off of funds from the account;

• and so on.

Whatever the reason for requiring a bank statement - its main purpose is to organize regular monitoring of the movement of funds on the accounts (account) of the client.

What information is contained in the statement for visa processing

When submitting it to the Consulate, the bank statement is prepared on a special form, with a round seal, signature of the department specialist who issued the document (sometimes an additional signature of the head of the department may be required).

The following information is mandatory:

• full details of the client, indicating his address;

• the name of the banking institution;

• the balance of funds;

• date when the bank agreement to open the account was concluded;

• stamps;

• date the statement was issued;

• personal data of the employee (full name) who issued the statement, indicating his/her position and signature.

The bank statement has a time limit. It is valid for 1 month from the date of issue. Different countries have different requirements for the amount in the account.

How to get a bank statement

The procedure for obtaining this financial document requires the client to provide certain documents to the bank branch to make sure that the person has the full right to obtain a statement. Such documents include an internal passport, and a power of attorney may also be required.

It is important for clients to remember some points.

1. The information provided is the basis for checking the credentials of the bank employee of the person who applied to him. 

2. Extracts are often stored in a special file cabinet, their sorting is carried out at closing (termination) of the client's account. Statements generated by the bank are stored in the branch for 4 months, after which they are destroyed.

When receiving a statement, the client must make sure that it is accompanied by all necessary financial documents which confirm that payments have been made (deposited/withdrawn from the account). Payment documents confirming transactions include payment requests or orders stamped "Repaid".

Using PSD templates

Based on the fact that this is a PSD file whose layers can be edited in Adobe Photoshop, the bank statement PSD template is used to design a bank financial document. This is done by:

• changing text information;

• using the necessary fonts, images.

A bank statement created using PSD template may be needed to solve urgent issues, such as visa processing (included in the mandatory package of documents), for litigation, for other purposes.

Remember that using a bank statement created with the help of PSD template is punishable by fines of a certain amount, or imprisonment.