Meaning & use
statement account
Last updated
Meanings
nouncountablebusinessfinanceBritish
A bank account for which the bank regularly sends the customer a written record of money paid in and taken out.
Grammar: Countable: you can open, close, or hold a statement account.
Patterns
- open a statement account
- have a statement account
- a statement account with a bank
She opened a statement account so she could check her spending every month.
A statement account usually comes with a monthly record sent by post or email.
If you prefer to see a printed record of your transactions, ask for a statement account.
nouncountablebusinessfinance
A record or report showing the money owed or paid on an account over a period.
Grammar: This is a looser use; it is countable and often appears in business writing.
Patterns
- a statement account of something
- keep a statement account
The company keeps a statement account of all payments made to suppliers.
Please send a statement account showing the balance at the end of each quarter.
Word forms
| plural | statement accounts |
|---|
Common combinations
- open a statement account
- You can open a statement account at any branch with your ID.
- monthly statement account
- The bank offers a monthly statement account for small businesses.
- statement account with a bank
- He has a statement account with a local bank.
- close a statement account
- She decided to close her statement account and move to an online one.
Synonyms and how they differ
- current account
- Current account is the common British term for an everyday bank account, whether or not statements are sent; statement account emphasizes the regular record.
- checking account
- Checking account is the usual American term for the same kind of everyday account.
- account
- Account is the general word for any arrangement with a bank; statement account is a specific type.
Word family
Commonly confused: statement account or statement?
statement account vs statement
A statement is the record itself; a statement account is the account that produces those records.
Practice
Which sentence uses 'statement account' correctly?
Choose one answer.
A statement account is a type of bank account, so opening one at a bank fits. Option 2 confuses it with 'statement' (a report). Option 3 treats it as a document, which is wrong. Option 4 uses 'statement' in the legal sense, not 'statement account'.
Make it your own
Write a sentence using “statement account”, then check it and compare it with the examples above.