Dictionary of Banking Terms: statement balance
statement balance
- account balance as of the date summary statements are prepared and mailed to customers. Checking account statements list all checks paid before the date the statement is prepared. The ending balance may differ from the actual balance in the account, because checks that have not yet cleared are not included. By comparing the bank statement with checks listed in a checkbook, the customer can verify the accuracy of the account statement.
- outstanding balance owed on a credit card account.
- closing balance in a deposit account, including interest earned, less service charges.
