Discuss five differences between a bank statement and a bank pass book.

  • A bank statement is issued after an account holder has requested for it whereas a bank pan book is issued after one opens an account.
  • Pass book can be used to withdraw money whereas a statement cannot.
  • A bank pass book contains all the particulars of a person e.g. a passport size. Whereas a bank statement doesn’t have
  • A bank statement is seasonal that is its issued from time to time whereas a pass book is more permanent.
  • A bank statement shows only the transactions that were undertaken in a certain period of time but a passbook may contain all the transactions since the account was opened.
  • A bank statement may be given to anyone who holds either a savings or current account but pass book may be given only to those with savings account where cheque facilities aren’t available.

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