How to obtain a bank certificate to show economic solvency

Officially, there is no document or bank certificate that you can obtain in the United States to show your financial solvency. That is to say, what in some countries is called “certificate of bank income” or “Bank reference” which, in general, reviews:

  • How many bank accounts you have open in that institution.
  • How many credit cards has that bank issued you and what is its limit.
  • How much money do you manage in your accounts. (According to the international classification of bank references)

In the latter case, the countries that usually work with bank certificates or references do not show the exact amount of money that enters and leaves each month, but rather an average of the monthly balance based on a classification such as the following:

Classification of numbers for bank references
number of digits low figures average figures high figures
two from 10 to 39 from 40 to 69 from 70 to 99
3 from 100 to 399 from 400 to 699 from 700 to 999
4 from 1,000 to 3,999 from 4,000 to 6,999 from 7,000 to 9,999
5 from 10,000 to 39,999.99 from 40,000 to 69,999 from 70,000 to 99,999
6 from 100,000 to 400,999.99 from 401,000 to 600,999.99 from 601,000 to 999,000
7 from 1,000,000 to 4,000,999.99 from 4,001,000 to 6,000,999.99 from 6,001,000 to 9,990,000
8 from 10,000,000 to 40,000,999.99 from 40,001,000 to 60,000,999.99 from 60,001,000 to 90,000,000

However, although you cannot obtain a bank certificate to prove your economic solvency in the United States, this does not mean -necessarily- that you could not obtain certain bank documents that are official and that would serve to confirm that you handle a certain amount of money from time to time and that, therefore, you have a good financial solvency.

What document are we talking about? Of Bank statement. You can also know it as the statement of account, especially in credit cards. Ideally, you should request or download your bank statements and account statements regularly, not only to ensure that there are no mistaken transactions – which could mean fraud or cloning of your card – but also because they would serve to support your financial solvency. .

How to obtain a bank certificate to show economic solvency

Most banks and credit unions in the United States now offer a lots of online banking services. Having this tool at hand will allow you to check the status of your account or Outstanding balance -in the case of a credit card or a loan- or make a transfer. Of course, you could also do other things, like:

  • Make payments.
  • Domicile payments.
  • Block your debit or credit cards.
  • Request pre-approval of a credit or card.

Another of the errands that you could complete without leaving home is get a bank statement. Generally, your statements for the last few months should be available for customers to download as a PDF at no charge.

That yes: you must take into account that banks vary among themselves in terms of the availability of the account statement or bank statement. However, you will usually see a link at the top of your online account called “Statements”, “Account”, “Download Bank Statements” or “Account Services”.

Once you find this option, you will have access to your bank statements, usually in a PDF format that you can download on any device. This will give you the opportunity to choose the time period you need and the type of account you want.

For example, if you need to see the incoming and outgoing movements of your current account for the month of March 2020, you will be able to do so without problems.

Note: Most banks have your account statements available instantly, although you may also have to wait 2-5 business days. Keep in mind that some banks may also delete statements after a few years.

Of course, you will not only be able to see the movements of your account in the bank statement. You can also check each transaction online, choose only the incoming, the outgoing, or even the fees or surcharges of the bank. This advance in banking matters will allow you to review your finances easily and quickly.

Important: Most banks prefer to collaborate with the conservation of the environment, that is, they opt to go paperless unless necessary. This leads them to offer their account statements online. We recommend that you download your bank statements regularly and keep them in a safe place: an encrypted folder on your computer or perhaps a locked folder in the cloud. If you prefer, you can also print them to have them in your physical file.

Sometimes, you can ask the bank -just when you open your bank account or card- that they send you the account statements to your email or postal mail. Let’s focus on this last option. Normally, when you open a new bank instrument, even a certificate of deposit, you will receive your bank statements in the mail.

This shipment will be made on a monthly basis, but it will not necessarily coincide with the beginning or the end of the month.

Note: Keep in mind that these excerpts will look just like the ones you download online.

What happens if you can’t find your latest physical statements? Well, maybe you lost them at home, they’re misplaced, or they got lost in the mail. It could also happen that, at the time of opening your account, you have checked the option to receive your account statements in digital format.

Regardless of what happened, most banks offer on their website the option to request a statement by mail. You may find that box near or in the same section where you download your digital bank statements.

Note: The option to request the sending of paper account statements could be under the name “Statement”. If you choose this option, be careful! Your bank may charge you a fee of $5-6 for sending the statement.

If you don’t have access to online banking, you can call customer service. They can help you receive a paper copy of your account statements. To find the contact number, check the back of your credit and/or debit card or call the bank number directly.

If your bank does not give you the option to request a paper account statement, print the PDF and save your physical account statements. Remember that the printed version will look exactly the same as the one issued by the bank, so there will be no problem.

How long does the bank keep account statements?

Most banks have a limit for keeping bank statements. This period of time is usually 7 years. That is why it is important that you download your account statements from time to time, since you may need them in the future, especially for the IRS.

Note: When you no longer need your bank statements, shred them before you throw them away. Remember that these documents contain confidential financial information.

In short, how to obtain a certificate from the bank to show economic solvency?

Getting a copy of your bank statement is quick and easy. Will you be able to do it through online banking (downloading a PDF to save it virtually or print it), ask the bank to send you the account statements by post mail or even for email. In general, most banks will send you your statements in physical form unless you have checked the option to receive the statements digitally.

Note: If you like electronic options, you might consider switching to online banking. Keep in mind that they generally have higher APYs than traditional banks or lower APRs for credit cards and other types of loans.

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