what is the difference between passbook and bank statement ?
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Diff between passbook and bank statement
Replies (9)
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.
Passbook is mainly related to saving account & bank statement is related to current account
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.
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
Passbook has photo identity and money withdrawals with its support will be helpful. Statement does not provide identity.
Passbook = Saving Account
Statement= Current Account.
Sorry but, Passbook can also be alloted to a current account holder.
Passbook = saving a/c means only to saving account holder.
Bank statement is chargeable, while passbook updation is FOC.
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
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