Admin Canara Bank is one of India’s largest public sector banks with over 19,000 branches and over 2 crore retail customers nationwide. Along with a range of savings accounts, current accounts, and deposit schemes, Canara Bank also provides various free banking services to its customers including mini statements for all savings accounts.
What is a Mini Statement?
A mini statement or an e-statement is a summarized bank account statement issued over short periods such as a fortnight or month, for the benefit and convenience of the account holder. Unlike the branch-issued standard quarterly, half-yearly or annual account statements, the mini statement lists all the most recent transactions in the account along with key account information and is available instantly to the customer almost in real-time.
The Canara Bank savings account mini statement carries the following information related to your account:
Name and Account Number
The mini statement header clearly displays the savings account holder’s name and the complete Canara Bank savings account number. This enables easy identification and filing/tracking of the statement for later reference.
Statement Period
This crucial bit of information indicates the exact start date and end date of the transactions that are covered under the specific statement. For example, “February 1 to February 28/29, 2023” for a monthly Canara Bank savings mini statement.
Transaction Details
This is the main section listing each inflow (credit) and outflow (debit) from the savings account within the above statement period, depicting:
- Transaction date
- Short description (eg. Cash withdrawal, Offline transfer to accounts@canarabank etc.)
- Withdrawal amount (displayed in negative for debits)
- Deposit amounts (displayed in positive for credits)
- Type of transaction – cash, cheque, electronic clearing or transfer, merchant payment
- Status (success/pending/failed)
Account Balance
The opening and closing balance is displayed before and after the transaction details inside the mini statement. This enables understanding the fund availability in the account.
Why Mini Statements Matter
The mini statements provide multiple benefits to the Canara Bank savings accounts and must be periodically reviewed by account holders:
Tracks savings account activity
The mini statement provides visibility into even the smallest transaction impacting the savings account from any channel – ATM, branch, internet/mobile banking, merchant outlets etc.
Enables faster fraud detection
Quickly reviewing unexpected or unknown transactions in the latest account mini statement allows swift detection of any unauthorized access or fraudulent activity.
Streamlines budgeting
Tracking periodic spending patterns, cash deposit/withdrawal trends helps customers take financial corrective actions for optimized budgeting.
Easy miss-credits identification
Non-reflection of expected fund credits helps account holders identify potential issues faster instead of waiting for quarterly statements.
Where and How to Get a Canara Bank Savings Mini Statement
Net Banking
Canara Bank offers 24×7 net banking access to all its savings bank account holders. Customers can securely login to net banking using their user id and password, navigate to the e-statement/mini statement section and check, download or print the latest statement instantly online.
ATMs
By selecting the mini statement option on Canara Bank ATMs after inserting your ATM cum debit card and keying in the 4-digit ATM PIN code, a physical printout of the mini statement can be taken instantly.
Home Branch
During working hours, customers can also visit their account holding Canara Bank branch and request the teller to provide the latest updated monthly mini statement related to their savings account, printed and stamped for free.
Conclusion
Thus, to actively manage their savings bank accounts and stay updated on the associated transactions, all Canara Bank customers are advised to periodically access and review the free mini statements issued by the bank through the most convenient channel.
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