A passbook or bankbook is a paper book used to record bank transactions on a deposit account

Deposit account

A deposit account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the...

. Depending on the country or the financial institution

Financial institution

In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries...

, it can be of the dimensions of a cheque

Cheque

A cheque is a document/instrument See the negotiable cow—itself a fictional story—for discussions of cheques written on unusual surfaces. that orders a payment of money from a bank account...

book or a passport

Passport

A passport is a document, issued by a national government, which certifies, for the purpose of international travel, the identity and nationality of its holder. The elements of identity are name, date of birth, sex, and place of birth....

.

Traditionally, a passbook is used for accounts with a low transaction volume, such as a savings account

Savings account

Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...

. The bank teller

Bank teller

A teller is an employee of a bank who deals directly with most customers. In some places, this employee is known as a cashier. Most teller jobs require cash handling experience and a high school diploma. Most banks provide on the job training....

 or postmaster

Postmaster

A postmaster is the head of an individual post office. Postmistress is not used anymore in the United States, as the "master" component of the word refers to a person of authority and has no gender quality...

 writes, by hand, the date and amount of the transaction, the updated balance, and enter his or her initials. In the late 20th century, small dot matrix

Dot matrix printer

A dot matrix printer or impact matrix printer is a type of computer printer with a print head that runs back and forth, or in an up and down motion, on the page and prints by impact, striking an ink-soaked cloth ribbon against the paper, much like the print mechanism on a typewriter...

 or inkjet printer

Inkjet printer

An inkjet printer is a type of computer printer that creates a digital image by propelling droplets of ink onto paper. Inkjet printers are the most commonly used type of printer and range from small inexpensive consumer models to very large professional machines that can cost up to thousands of...

s were introduced to update the passbook at the account holder's convenience, either at an automated teller machine

Automated teller machine

An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...

 or a passbook printer, either in a self-serve mode, by post, or in a branch

Branch (banking)

A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....

.

For people who feel uneasy with telephone

Telephone banking

Telephone banking is a service provided by a financial institution, which allows its customers to perform transactions over the telephone.Most telephone banking services use an automated phone answering system with phone keypad response or voice recognition capability...

 or online banking

Online banking

Online banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...

, this is an alternative to obtain, in real-time, the account activity without waiting for a bank statement

Bank statement

An account statement or a bank statement is a summary of all financial transactions occurring over a given period of time on a deposit account, a credit card, or any other type of account offered by a financial institution....

. However, contrary to some bank statements, some passbooks offer fewer details, replacing easy-to-understand descriptions with short codes, also known as mnemonic

Mnemonic

A mnemonic , or mnemonic device, is any learning technique that aids memory. To improve long term memory, mnemonic systems are used to make memorization easier. Commonly encountered mnemonics are often verbal, such as a very short poem or a special word used to help a person remember something,...

s.

See also

• Bank statement
  Bank statement
  An account statement or a bank statement is a summary of all financial transactions occurring over a given period of time on a deposit account, a credit card, or any other type of account offered by a financial institution....
  
  
• Deposit account
  Deposit account
  A deposit account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the...
  
  
• Sberkassa
  Sberkassa
  Sberkassa in the Soviet Union and modern Russia is a financial institution to store the savings of the population. The term is traditionally translated as savings bank, however sberkassas in the Soviet Union were not banks in the usual sense....
  
  , the bankbook heritage from the Soviet Union.