What is the deal with bank statements?

[buenosdias]

I've seen most banks ask for them. Do they actually call the bank to confirm this statement? Or is it just for the sake of whatever it is?

 

[GCE]

Bank statement confirms that you have a valid account with licensed financial instituon. Presumably you have already passed clients verification procedure of at least one financial body.
Most of the statements confirm also your personal/company details and address.
I don't think there is a prescribed procedure one bank to call another for such confirmation. Certainly all the bank within respective jurisdiction have unified system for risk clients and credit reporting.

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[buenosdias]

So that means if someone submits a fake/forged statement, none would be the wiser, right? Or will it be exposed at any point?

 

[Milky Moon]

sometimes you are asked to wire one euro from that account to the account you are trying to open.

 

[JohnLocke]

Milky Moon said:
sometimes you are asked to wire one euro from that account to the account you are trying to open.
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yeah, it's something most of the banks I have been in contact with and which are located in Europe have asked for. I don't know, but this wasn't like this for just 3 years ago, it seems it is a way for easy verification.

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[buenosdias]

So if I got the bank account verified by wiring 1EUR or something from the bank statement's bank account, then would it be a problem if I funded the initial amount (aka the minimum deposit) from another bank account?

 

[diablo]

buenosdias said:
I've seen most banks ask for them. Do they actually call the bank to confirm this statement? Or is it just for the sake of whatever it is?
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I believe most banks don't call the other bank they just need it for compliancy reasons.

 

[Martin Everson]

No bank will call and question a statement as no bank discusses your account with a third-party unless its local regulators or you have given permission. If the statement looks fake they may ask for bank reference and follow up the reference.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[JohnLocke]

Martin Everson said:
No bank will call and question a statement as no bank discusses your account with a third-party unless its local regulators or you have given permission. If the statement looks fake they may ask for bank reference and follow up the reference.
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second that, most often they will ask for additional information or documents if they doubt the documents and information already provided.

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[David97255]

Yes it s about the verification, it means that the bank who provided the statement has already checked your documents.
Most of emi or bank don't accept statement from emi's.
Yes fake statement work if it s done well and no they won't call the third party bank to check if it s a true or fake statement.
Good luck

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