what is the difference between passbook and bank statement ?
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 = 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
Your are not logged in . Please login to post replies
Click here to Login / Register
KK & Company Chartered Accountant
Pune
CA Inter
View Details
Malhotra Rajesh & Associates
New Delhi
B.Com
View Details
RMA And Associates LLP
New Delhi
CA Inter
View Details
AJAY SINGH AND CO LLP
Thane
CA Final
View Details
HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
View Details
CCI
Pro
India's largest network for
finance professionals