Understanding Your Account Balance | Bank Statements - HSBC UK (2024)

FAQs

How do I read my HSBC bank statement? ›

The basics. Your HSBC bank statement gives details of everything that's been paid out and paid in over a given period of time. At the top of the page, it shows your name and address, the period of time covered by the statement and your account name.

Here you'll see the beginning balance in the statement period, the amount you received in deposits, and the amount you spent. You'll also see any interest you earned and any ATM fees you paid. Finally, you'll see the ending statement balance. Other account information.

To understand your bank statement, review key sections: Bank Information (bank's name, address, contact info), Account Information (your name, address, account number), Statement Period (start and end dates of transactions), Opening/Closing Balance (account activity summary), Deposits (money added to your account), ...

What's the difference between your balance and your available balance? Your balance shows how much you're in credit or overdrawn. You may notice a difference between your balance and your available balance. That's because your available balance includes some pending transactions.

It stands for CREDIT. A credit balance means you have a deposit into your account like your salary. At the end of the month if the magic acronym CR, appears at the end of your bank statement it means you are a CREDITOR of the bank, they owe you money. They keep YOUR money safe for you.

Examine the statements for any transactions that seem out of place, unusually large amounts, regular small-amount transfers, or entries that don't align with your records. These could be indicators of errors, fraud, or unauthorized access to the account.

Example of a statement of account

At the top of the page is the business name and the account balance. The lower part is a detailed rundown of the month's invoices, payments and money owed. The final figure is the total amount owed by the client.

Book balance is an accounting record of a company's cash balance reflecting all transactions and must be reconciled with the bank account balance. A bank statement is a record, typically sent to the account holder every month, summarizing all transactions in an account during a set time period.

Breaking Down a Bank Statement

The top of a bank statement generally shows the name of the account holder along with sensitive information such as bank account number and branch number. It also contains a summary table that shows the time period, opening balance, deposits, withdrawals, and closing balance.

VIS: Visa debit card payment. BP: BACS or Bill Payment (including. Bill Payment credit)

Does my HSBC balance include pending transactions? ›

Your available balance is the money you have available to spend, taking into account any pending payments and excluding any cheques that haven't yet cleared.

Other common shortened forms include “ACH” for Automated Clearing House, “POS” for Point of Sale, “OD” for Overdraft, and “INT” for Interest. Financial institutions use these abbreviated letters and acronyms to simplify statements and conserve space instead of spelling everything out in full detail.

Bank statement transaction codes are the internal codes that are used on a bank statement line to identify the type of transaction being reported. These are also referred to as: Transaction codes.

The password to open the encrypted PDF e- statements always has 15 characters: the first 9 characters are a customer's day of birth and the last 6 characters are the last 6 digits of a customer's credit card.