In this article, we discuss the cost of getting Bank statements from the 24 Banks registered in the country. Explore the alternative of whether the bank offers a digital copy through internet banking and the cost as well. Buckle up, let’s proceed;
Understanding Bank Statements
A bank statement is a summary of your financial transactions that occurred at a certain bank during a specific time period. A typical bank statement may show details of debits and credits in your account with the present balance as the last date of the statement. This includes records withdrawals, deposits, and service charges for a certain month. Bank statements allow you to check for errors, watch for suspicious activity, and track your spending. When applying for loans or mortgages, you may also be required to present a Bank statement and there are usually 3 types of Bank statements i.e. normal statement, interim and duplicate bank statement. A normal statement is one that you can get online or from the branch and it’s usually it’s for a year or 2. This is what we usually know as a Bank statement. A duplicate statement is one sent to a third party at your recommendation. Duplicate statements are sent to your interested party beginning with your next statement An interim statement is a financial report covering a period of less than one year.
Cost of Bank Statements in Uganda
Keep in mind, these are figures released by the Bank of Uganda in September 2021 and what you might find when you go to a bank branch might be slightly different but the discrepancy shouldn’t be the much. Let us know in the comment section, your experience going to a branch to get a bank statement and how much you were charged.
