Question 1

What is the difference between statement balance and current balance?

Accepted Answer

The statement balance is what you owed at the end of your last billing cycle, while the current balance is what you owe right now, including any new charges or payments since the statement date. Pay the statement balance by the due date to avoid interest; the current balance reflects real-time activity.

Question 2

Do checking accounts earn interest?

Accepted Answer

Some checking accounts earn interest, called interest-bearing checking accounts. However, rates are typically lower than savings accounts. Many standard checking accounts don't pay interest at all.

Question 3

What is a business bank account?

Accepted Answer

A business bank account separates personal and business finances, required for LLCs and corporations. It provides merchant services, higher transaction limits, business debit cards, and helps with accounting and tax preparation.

Question 4

What is a personal loan?

Accepted Answer

A personal loan is an unsecured loan from a bank or lender for any purpose. You receive a lump sum and repay with fixed monthly payments over a set term (typically 2-7 years) at a fixed or variable interest rate.

Convert Pax-Bank Statementsto Excel, CSV & JSON

Why Choose Us?

How to Convert Pax-Bank Statements

Upload Statement

AI Processing

Download Results

Why Use Our Pax-Bank Converter?

Bank-Level Security

AI Precision Engine

Quick Turnaround

Growing Global Trust

Frequently Asked Questions

What is the difference between statement balance and current balance?

Do checking accounts earn interest?

What is a business bank account?

What is a personal loan?

Ready to Convert Your Pax-Bank Statements?