Bank statement

The bank statement (Kontoauszug) is an overview of all account movements (incoming, outgoing, balance) for a specific period.

Forms:

• Electronic: available at any time in online banking (free)
• At the statement printer: in the bank branch (usually free)
• By post: on request, often €1–3 per statement

Retention obligation (Germany):

• Private individuals: no legal obligation, but recommendation: 3 years (limitation period)
• Income over €500,000/year: 6-year retention obligation (§147a AO)
• Self-employed/business owners: 10-year retention obligation (HGB/AO)

Why check regularly?

• Spot incorrect debits (reverse a direct debit within 8 weeks!)
• Discover unauthorised access (phishing, card misuse)
• Find double charges on card payments
• Identify forgotten subscriptions

Tip: check your bank statement at least once a week. If anything looks irregular, contact the bank immediately – the faster you react, the better your chances of a refund.