An OPay bank statement is a document that provides a detailed record of all transactions carried out through an OPay account over a specific period. This statement can be used for various purposes, including financial management, loan applications, and verification of income and expenses.
In other words, it's a digital record of all financial transactions conducted through your OPay account within a specific period. It provides a detailed breakdown of your income, expenses, and account balance.
Typically, an OPay bank statement includes the following information: transaction date, transaction type (e.g deposit, withdrawal, transfer, etc.), transaction amount and description (e.g., airtime recharge, bill payment) and balance (such as initial balance before and after a transaction is completed).
OPay is a fintech company offering a range of financial services, including mobile payments, transfers, loans, savings, and USSD banking more. OPay operates predominantly in Nigeria and has gained significant popularity due to its convenience and wide range of services.
Key Features of an OPay Bank Statement
- Transaction History: This is a comprehensive list of all transactions, including deposits, withdrawals, transfers, bill payments, and purchases on the OPay App. Each transaction is typically detailed with the date, amount, transaction type, and description.
- Account Details: The statement includes the account holder's details such as name, account number, and contact information. Additionally, it'll also show the account balance at the beginning and end of the statement period.
- Statement Period: You can generate statements for specific periods, such as monthly, quarterly, or yearly. How to do that will be explained in this article. Also, custom date ranges can often be selected to tailor the statement to specific your needs.
- Format: The OP ay Bank Statements are usually available in downloadable formats like PDF, CSV and Excel, which can be easily printed or shared.
- Accessibility: You can easily access your bank statements through the OPay mobile app. Statements can be generated and downloaded at any time, providing you with easy and quick access to their financial records.
- Usage: OPay Bank statement is useful for tracking spending, budgeting, and financial planning. The statement is also essential for documentation purposes, such as applying for loans, VISA, verifying income, or during audits.
How to Request and Download your OPay Bank Statement
To get your OPay statement of account, you need to log into the OPay app or business app on your phone. Go to the transactions section, click the three dots in the top right corner, and select "Statement".
From there, you can choose to view a one-month or two-month statement period. Select the start and end dates for the period you want to see.
To receive or request the statement, enter the email address where you want it sent and click "Next". You'll need to enter your OPay PIN to verify the request.
The statement will be emailed to you in Excel format or your preferred format. OPay delivers account statement in three format; Excel, PDF and CVS. After receiving the statement in your email, it will show all your OPay transactions for the selected period, including total debits and credits.
Furthermore, OPay allows merchants to receive up to 5 million Naira per day. If you need to request a statement for a longer period, you'll need to split it into multiple requests, such as January-February and March-April.
To access your OPay account settings, go to transactions, click the three dots, and select "Statement. This allows you to easily view and download your statement of account directly from the OPay app whenever needed.
Benefits of using OPay Bank Statements
The benefit is financial management. With OPay Bank Satement, you can track and manage your personal or business finances efficiently. The OPay Bank Statement is also essential for Loan applications. Be it Loan on OPay or other lenders, it provides proof of income and financial activity, which is often required by many online and offline lenders when applying for loans.
Another usefulness of OPay Bank Statement is expense verification. The bank statement is very useful for verifying expenses and maintaining accurate financial records. And lastly, the conveniences the OPay Bank Statement offers make it easy for users to access their financial records without the need to visit a physical bank.
In a nutshell, OPay bank statements offer a practical and efficient way to keep track of your financial transactions, providing valuable insights and documentation for various financial activities.
