Account History Law and Legal Definition

Account history is the summary of a deposit account's activity. Banks maintaining checking, savings and brokerage accounts sends a monthly statement to account holders. This statement must include the account history for that month. Account history includes interest earned during a particular period, balance, the number of times the account was past due and over limit. It includes passive entries also. Account histories are useful to identify fraud and theft. Usually account history is recorded on the account statement.