A bank statement is a document provided by a bank that summarizes all transactions in a customer's account over a specific period, usually a month. It includes details such as deposits, withdrawals, fees, and interest earned, helping customers track their financial activity. Bank statements are essential for managing personal finances, as they provide a clear overview of spending habits and account balances. They can also be used for budgeting, verifying transactions, and preparing for tax filings. Customers typically receive their statements via mail or electronically through online banking services.