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Diff between passbook and bank statement

sp Gowthaman (student) (30 Points)

15 January 2015

what is the difference between passbook and bank statement ?

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9 Replies

Intermediate Student (-) (644 Points)
Replied 15 January 2015

Both are same. Just looking is different. Passbook is diary type book given by bank; and can be use to print transaction entry. Bank statement is loose papers given by bank as request interval.

2 Like

MOHD MOSHAHID (Student) (79 Points)
Replied 15 January 2015

Passbook is mainly related to saving account & bank statement is related to current account

4 Like

CS ( Dr.) Rajeev Babel (Practicing Company Secretary) (284 Points)
Replied 16 January 2015

Both are the Same. Lookwise there is some difference. Passbook is diary type and statement is printed on piece(s) of paper. Statement is usually given to current account/ cash credit holders whereas the passbook is given to savings banks account holders.

1 Like

ABHINANDAN JAIN (CA Student) (886 Points)
Replied 16 January 2015

On the basis of Purpose:

Both are same as both serve same purpose i.e. tracking transactions done in account

On the basis of issuer:

Passbook (book format) is mainly issued by government owned or public sector nationalised (like OBC,Vijaya Bank, canara bank,etc) banks whereas the bank statement which is in paper format generally sent by Private banks

On the basis of Updation:

For transaction updation, you need to go personnaly to get updation of transaction till that date whereas the Bank statement which is periodaclly (monthly) sent is the detail transaction for a particular month for which it pertains to.

Tried to incorporate new point

hope now cleared

1 Like

suresh d (senior manager) (27 Points)
Replied 16 January 2015

Passbook has photo identity and money withdrawals with its support will be helpful. Statement does not provide identity.

1 Like

CS RAJESH C.CHOUDHARY (ASSISTANT MANAGER) (14607 Points)
Replied 17 January 2015

Passbook = Saving Account

Statement= Current Account.

Arpit Pachisia (CA) (734 Points)
Replied 17 January 2015

Sorry but, Passbook can also be alloted to a current account holder.

Passbook = saving a/c means only to saving account holder.

1 Like

Rohit Singhal (Credit manager- ICICI bank Ltd) (46 Points)
Replied 17 January 2015

Bank statement is chargeable, while passbook updation is FOC.

1 Like

Prachi Bansal (3124 Points)
Replied 26 February 2021

Passbook is for you referral and is given fro your convenience whereas for bank statement you must request your bank for the same and comes printed in pages