What does tms mean on the account statement
Account statement: overview and documentation
An account statement gives you an overview of your current account balance and the transactions that have taken place on your current account. The relevant account information, such as the account number, is also printed on it. The account balance at the beginning and the end of the specified period is recorded on the statement and you can see all incoming payments and payments made that have been processed via this account. These are given with the date, purpose and amount.
You can also find information on the amount of the overdraft facility granted to you on your account statement. At the same time, bank statements often serve as evidence to prove payments made.
Retrieve account statement
You will receive the statements with your bank card on the statement printers in the branches of your bank. There you can theoretically print out account statements at any time and find out about new account movements. You can also receive the extracts by post. This usually happens automatically if you have not picked it up yourself from the bank statement printer within a period of 30 days. Banks are legally obliged to inform their customers at least once a month about their account movements.
If the customer has neither picked up a printout nor downloaded an electronic account statement, the statements will be sent by post. However, banks are not allowed to charge the customer for such unsolicited account statements. They are only allowed to demand the postage costs from the customer, but a processing fee is not permitted according to a judgment of the Frankfurt Regional Court (Az. 2-25 O 260/10).
Daily statement and closing of accounts
The regular account statement that you receive at the machine or online is also known as the day statement. It provides the current status of your account and lists the last account movements. However, bookings are not always displayed immediately, but only when they have been carried out. For example, if you have paid with a debit card in a shop, the corresponding payment will not be displayed when you print an account statement a few minutes later.
So if you want to quickly prove a transfer, it is best to use a transfer confirmation from the bank. With online banking, you can print this out immediately after making a transfer.
The accounts are closed at regular longer intervals - often quarterly - and include interest that is credited or billed to you, but also the fees incurred, such as account management, card and postage fees.
This is what the abbreviations on the account statement mean
- EC: Electronic Cash You have paid with your debit card and authorized the payment by entering your PIN.
- ELV: Electronic direct debit You have made a card payment and authorized it with your signature.
- GA: ATM You have withdrawn money from an ATM. The machine number, date and time are also given.
electronic bank statement
If you use online banking, your bank probably offers an electronic account statement there. This contains the same information as the paper version from the bank statement printer, but the layout is usually different. Therefore, the electronic account statement can look strange at first.
You can apply to your bank to switch to the electronic account statement and you will always receive it at the agreed time in your mailbox in the bank's online banking area. The digital statements are usually available in the online area for twelve months, or longer depending on the bank's terms and conditions. It is strongly recommended that you regularly download the electronic account statements and save them on a storage medium. In addition, they can of course also be printed out.
Please note, however, that account statements may still be sent by post. If you do not access the statements online for a longer period of time, the bank will notice that you are not informed of your current account movements. Many banks then send a letter with the current statements in order to comply with their information obligation.
Advantages of the electronic bank statement
With the electronic account statement, you have the opportunity to quickly get an overview of your account movements at any time without having to go to a bank branch. Instead, you simply call up the information via the regular online banking access. The extracts are quickly saved and archived without having to create large files. In addition, you avoid the postage costs incurred when the statements are sent by post.
As the Federal Ministry of Finance decided in 2006, an electronic account statement that is available in unchangeable PDF format is equivalent to an original statement from the bank. Accordingly, like this, it can serve as evidence - for example to the tax office. However, this does not apply to all groups of people: Those who are required to keep accounts must be prepared for the fact that the tax office could carry out a check for tax recognition on an electronic account statement.
The accounting obligation exists for all traders as well as for commercial entrepreneurs and farmers and foresters from a certain annual turnover. If in doubt, companies should ask the tax office whether electronic account statements are sufficient for them. However, this form of account statement of the paper variant is also to be equated with an electronic signature. Because this ensures that it is a forgery-proof original document. To be on the safe side, however, you should ask your bank whether they can create the electronic account statements with such a recognized signature.
Legal and advisable retention periods
As a rule, there is no prescribed period of time for private individuals to keep bank statements. However, there is an exception for people who have an income of more than EUR 500,000 per year: They must archive their bank statements for six years. Even if you have hired craftsmen, you must keep the relevant statements as proof of payment for two years from the end of the respective calendar year. However, this is not about your own finances, but about a control option for the tax offices, which can use it to check the sales tax of the craft businesses. Since the statutory warranty period for craft services is five years, archiving is also recommended for this period.
Apart from these obligations, it is advisable for all consumers to keep account statements for a certain period of time as proof of payment, especially for larger purchases. The general limitation period can serve as a guide. It is three years from the end of the respective calendar year. So if a purchase is made on June 15, 2012, the limitation period begins on December 31, 2012 and ends on December 31, 2015. After this time, no further claims can be enforced.
It is also advisable to keep account statements, for example to prove to a future landlord that your own rent payments are regular. Even if you have carried out a loan comparison and apply for a loan, money houses often ask for bank statements as proof of the information provided in the loan application.
Request a bank statement from the bank
Banks are required to keep your bank statements for ten years. It is therefore possible to request extracts there if you have lost them or have not kept them and now need them. However, there are often fees for this service that often increase with the age of the required account statement. It is therefore advisable to always keep account statements carefully.
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