Technology is widely accepted in the banking and lending sectors, which makes online statements legal documents. For the most part, you can use the printed version as proof of your financial health. When you apply for a mortgage or car loan, lenders and finance representatives usually accept them. If you are someone who still receives the statements in the mail, you can submit those instead. Here are three things to consider about online statements.
Check the Format
Online banking is more common today than it was 20 years ago. The young generation grew up with online banking as well as banking apps and digital money. In many ways, the young generation shaped how the banking and lending sectors complete business today. When you print the statements, check the formatting. Double check that nothing is cut off and all the pages you need printed. Missing pages lead to unnecessary delays.
Double Check the Dates
Most banking websites and apps have user-friendly interfaces. Online statements are a common user request. You should be able to navigate the statements menu with ease. Nonetheless, after you print the documents, double check the dates. If you need the last three statements, ensure that is what you printed.
Double Check the Information
Once you print the statements, double check the information. When you receive the documents through the mail, there are often several pages. Some of them are blank on purpose. Others have disclosures. Ensure that the printed version includes the pages with your banking information. You might print the blank pages and disclosures, too. So in all the paperwork, look for the information that lenders want to see such as your name, address and account balances.
Online Statements Conclusion
Online statements are now considered legal documents. You can submit them with mortgage and car loan applications as requested by the lender. If you need help navigating the statements, our Mortgage House team is available to you.
