Typically, both posted transactions, which are those your financial institution has fully processed, as well as pending transactions, which are transactions your bank has not fully processed, are indicated in your account history. Your running account balance after each transaction is usually indicated on the account history as well. In addition to the transactions list, your bank may allow you to see check images in your account history.
Alternate name: Account activity
For example, if you open a bank account on July 2 and make an initial deposit of $100, deposit a check the following week, withdraw cash from an ATM a few days later, then get paid on Friday, your account history for the past week may look like this. However, it is typical for banks to only permit customers to download account history for a certain time period, such as 18 months. If you need your account history beyond what’s available through online banking, you may need to reach out to your bank to find out if it has a way to provide statement copies beyond what you can download online. Also, it is possible your financial institution may make a mistake in your account history, so it is important you maintain your own account records to check for discrepancies against the account history prepared by your financial institution.
Types of Account Histories
The transactions in a particular account history will vary depending on the type of account the history is for. Account history is simply a listing of transactions in your account, while an account statement is a document that your bank or other financial institution prepares on a monthly basis that shows not only your account history for the statement period but also other important information. For example, while both your account history and account statement show the list of transactions that took place in your account, only your account statement will also show you:
Your average daily balance for a bank account. Your minimum payment due and payment due date for a credit card account. Your account holdings and change in investment value in a brokerage account.
Benefits of an Account History
Keeping track of your account history on a regular basis is the easiest way to ensure you have enough money in your account to cover a purchase or other transaction. Also, by maintaining your own records and comparing them to your account history, you can alert your bank of any errors or discrepancies.
