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for pick-up. Most banks also offer the availability of obtaining your bank statement online. These statements are also known as virtual statements, paperless statements, or e-statements. Because of the recent rise in identity theft, a virtual statement is sometimes considered safer than a paper statement as it does not display complete personal information and does not require extra safety measures of disposal such as shredding.
Since the use of computers in banks was introduced in the 1960s, account statements are generally produced every month. Previous to this, bank statements were produced quarterly or sometimes only annually. Accounts that don’t have a lot of transactions, such as investment or savings accounts still only produce statements quarterly or annually (e.g., 401(k) accounts.)
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