Current Account Statements: How to Check and Read Your Bank Statement
Disclaimer: This blog is generic in nature & should be used for information purposes only. Ujjivan SFB does not take any responsibility for the accuracy of the information provided herein.
October 07, 2026
Reading your current account statement gives you a clear picture of your business income, outgoing payments, and bank charges. These may include charges for not maintaining the required Monthly Average Balance (MAB), fees for services you may not have used, and charges for exceeding the free limits on cash deposits and ATM withdrawals.
Reviewing these details helps you decide whether your current account still suits your business needs or whether you should consider a different account type or bank. It also helps you avoid unnecessary charges, pay only for the services you use, maintain the required balance, and make the most of the benefits available for maintaining a higher MAB.
How Can You Check Your Current Account Statement?
You can generally check or download your business current account statement through the following channels:
The available channels, downloadable formats and statement periods may vary depending on the bank.
a) What Does a Current Account Statement Include?
A typical current account statement contains several key elements:
- Account information
- Statement period
- Opening and closing balances
- Transaction details
- Summary of fees and charges
b) How Do You Read the Transaction Details?
The transaction section of your statement includes:
- Date of each transaction
- Description or narration of the transaction
- Debit and credit amounts
- Running balance after each transaction
c) What Do the Different Account Balances Mean?
Your statement or digital banking platform may display the following figures:
- Ledger Balance: This is the balance after accounting for transactions posted to your account. It may not include pending transactions, holds or cheques that have not yet been presented.
- Available Balance: This is the amount currently available for withdrawal or payment after considering applicable holds, pending debits and other adjustments. Depending on the bank, it may also reflect the usable portion of an overdraft facility.
Overdraft Limit: This is the maximum overdraft amount sanctioned by the bank, where applicable. It is a credit limit and should not be treated as money deposited in your account.
The terminology and calculation method may differ between banks. Check your bank’s account terms if the displayed balances do not match your records
d) How Do You Reconcile Your Current Account Statement?
To ensure accuracy:
- Compare your statement with your own financial records.
- Check for any discrepancies or unfamiliar transactions.
- Verify that all deposits and withdrawals are correctly recorded.
e) How Can You Analyse Your Business Transactions?
Use your statement to gain insights into your business finances:
- Track cash flow patterns.
- Identify major income sources and expenses.
- Monitor recurring charges and subscriptions.
f) How Can Your Account Statement Support Business Planning?
Your account statement can help you:
- Make informed budgeting decisions
- Forecast future cash flow
- Identify areas for cost reduction or revenue improvement
g) What Features Do Digital Account Statements Offer?
Many banks now offer digital statements with additional features:
- Searchable transactions
- Categorized expenses
- Downloadable data for accounting software integration
What Current Account (CA) Type May Suit Your Business?
After reviewing your current account statement, if you feel your account needs a change or an upgrade, the following list of current account options can help you choose one that better suits your business needs.
Final Thoughts
Regularly reviewing your current account statement can help you monitor cash flow, reconcile your business records, verify bank charges and identify unfamiliar transactions. It also provides a reliable record for budgeting, accounting and other business decisions.
Eligible customers can also use the Smart Statement facility to review their banking relationship in one place. The available services and statement formats may vary depending on the account type and digital banking facilities enabled for the account.
Disclaimer:
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