Whether we agree or not, banks, in one form or the other, play an integral role in our daily lives. With internet banking, debit cards, credit cards, UPI payment apps, and more; right from doing a simple transaction at a vegetable vendor to buying a house, or a car, or pursuing investments; banks are involved.
With many of the banks posting spectacular numbers and delivering robust results in the current earnings season, the market mentality and focus are visible.
What is one of the most utilised banking services?
Now, if we think of it, what comes to mind as one of the most crucial and highly availed banking services? Agreed, this question is bound to get diverse answers, but one of the banking services, we all utilise often is acquiring bank statements.
Whether it is your savings account, current account, credit card account, or loan account, one common banking service between all these banking products is a statement of accounts.
A major issue associated with banking statements. What is it?
Now, with a statement of accounts, also comes the real pain, botheration, and one of the biggest annoyances that we all face but rarely highlight. Could you guess it? It is the conversion of bank statements from PDF to CSV, PDF to Excel, and more. With the variety of uses of the banking statement, the generic PDF format does not suffice and for a good number of its use cases, it is imperative to convert bank statements from PDF to Excel or from PDF to CSV.
You might say that there are a variety of online bank statement converter websites available that help to convert PDF-formatted documents to excel or CSV. However, we will pose a few questions here regarding these generic conversion websites.
Q1. Are these websites safe and reliable?
Q2. Do these websites delete your uploaded documents after conversion?
Q2. Do any of these websites cater particularly to converting a bank statement from PDF to CSV or PDF to Excel?
As far as the first and second questions are concerned, you can understand how much sensitive information is present in your statement of accounts. Uploading the same to a random website for merely a conversion is not advisable. Coming to the third question, a bank statement is unlike other generic PDF documents consists of several tables with complex structures, and requires a 100% accurate conversation to CSV or Excel formats. Admit it! Many of you have faced disappointments while using these generic conversion websites when it comes to banking statements.
How do banking statements help?
Your banking statement acts as your address proof and reflects your financial worthiness to apply for various loans. Whenever you seek a loan (whether it is personal, commercial, two-wheeler, four-wheeler, or a home loan), your personal account’s bank statement is one of the major prerequisites that undergo thorough evaluation to calculate the final loan amount for which you are eligible.
Your account statement even assists you in computing your monthly expenses and working out your budget. This one banking service comes with a multitude of uses.
What is the solution?
Solution 1
Speaking of solutions, the best way is to work it out manually. It is safe and reliable, and you can make sure of maintaining the right accuracy levels. However, that is too much time-consuming.
Solution 2
Another cool solution is this new website viz Tablesense.ai which particularly caters to banking statements and converts your statements from PDF to Excel and PDF to CSV. The website automatically deletes your files after processing and boasts of zero data retention. This ensures safety. With the smart table detection feature, you can rest assured that your statements undergo conversion with 100% accuracy. Just try this Tablesense.ai tool and check it out.
Conclusion
We hope you all agree on banks' major role in our daily lives. In coming times, this is bound to increase further. Hence, to become financially literate, one of the major requirements is for all of us to have a good degree of knowledge of how banks function, and how different banking products/services work. Bank statements are just a small element of how banks help us. There exists a plethora of other products and services to explore.