How to extract data from PDF bank statements

Portrait of Neha Gunnoo
by Neha Gunnoo
6 mins read
last updated on
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Have you ever tried extracting data from bank statements manually? If you have, then you can understand how time-consuming and tiring this process can be. It gets even more complicated if you are trying to convert PDF bank statements to Excel.

Without the right PDF parsing tool by your side, extracting hundreds of bank transactions from scanned documents in one day can be nearly impossible.

What are bank statements?

Bank statements are a record of money sent and received through your bank account. They show the amount and date of deposits, withdrawals, transfers, and payments. Bank statements can be helpful if you want to see how much money you have spent on a particular item. They are essential for tax purposes and filing as well.

A bank statement can be useful for several reasons:

  • It’s an easy way to determine how much money you have on hand at any given time.
  • It helps you make sure that your account is not overdrawn.
  • You can speak with your bank about any irregularities you find on your statement to prevent more significant problems from arising.

What is bank extract?

In this context, the word “extract” means to “pull data from” or “retrieve data from”. Bank extract refers to the extraction and processing of data from bank statements.

Bank extracts are often used by auditors to verify that transactions were properly recorded (and not deleted or modified). To check for any odd trends or anomalies in your financial data, it is a good idea to compare a set of extracts from various dates and locations.

Other industries where bank extracts are important

Extracted data from PDF bank statements are essential data used for various purposes. Those PDF documents help to assess an individual’s financial stability in terms of assets and liabilities.

  1. Real estate

If you’ve decided to buy, rent or lease real estate properties, your bank transactions are important to complete the paperwork. They also serve as proof of address when it comes to buying real estate properties.

Read further on how to extract leads from real estate platforms

  1. Mortgage

This is a common example where specific bank transactions are needed when you need to take a loan or a mortgage. It helps to establish credibility and your repayment capacity.

Read more on how to automate your mortgage leads in 2022

  1. Healthcare

Application for medical insurance or financial aid requires bank statements to show whether the individual is eligible or not. Manually entering that information is prone to errors.

What is a PDF bank statement extractor?

Simple copy-paste can mess up the table formatting and may contain a lot of errors especially if you are dealing with large volumes of confidential data. Also, if you miss any important transactions, you’ll have to manually go through each line which is time-consuming. A bank statement processing software will efficiently scan and process bank statements instantly without any errors.

A PDF bank statement extractor is a software program or application that automates the process of extracting data from a PDF bank statement. A PDF bank statement extractor works by scanning every line in the document and then comparing each line with an entry in an internal database of possible fields (such as account number, balance, date, etc). When it finds a match, it pulls out the relevant information fields and puts them into an output file.

The best bank statement data extraction software in 2022

Parseur is a data extraction tool with a powerful OCR engine that extracts data from bank statements instantly. It automates the data extraction process from bank transactions helping you save countless hours of manual data entry work.

Parseur comes with pre-made templates for specific uses and you can also create custom templates if you need to extract specific information from the PDFs. It does not matter whether the PDF bank statements are scanned or images; Parseur does the job!

Parseur, as an advanced OCR tool, helps to identify specific data such as text, numbers, tables, and addresses and extract only the data that you need. The PDF scraper tool helps to convert data into JSON, CSV, and XML as well. You can also send those data to any application of your choice.

In addition to that, Parseur uses Zonal OCR and dynamic OCR to extract data accurately from bank statements. With a robust PDF parsing tool equipped with machine learning capabilities, you can:

  • Convert customer data into digital records
  • Monitor and track transactions

How to extract data from PDF bank statements?

Extracting data from PDF bank statements with Parseur is as simple as point and click –which is funny since Parseur is a point and click editor.

We have summarized the data extraction process in 5 simple steps below.

Extract data from bank statements

Infographic: Extract data from bank statements

Extract text from PDF bank statements automatically
A powerful PDF parsing tool will help you automate your business, saving you countless hours of work.
  1. Create your free Parseur mailbox and choose “statements” as an option. Parseur is free to start with all the features available and you pay as you grow.
Create a free Parseur mailbox

Create a free Parseur mailbox

  1. Upload your PDF bank statement directly to the Parseur app.

Note: If you receive your statements via email, you can also create an auto-forwarding rule to forward your bank statements to the Parseur mailbox automatically.

  1. Teach Parseur what data to extract. This is done by creating what we call a template which means creating fields over the data we want to extract in the document.

To extract the list of transactions in a table, you can create a table field which will extract data from tables automatically

Parseur will extract the following fields from bank statements:

  • Bank name
  • Account number
  • Account holder details (name, address, phone number)
  • Opening and closing balance
  • Deposits and withdrawals
  • Period of statement
  • Interests
  • Other fees and charges
  1. The parsed results will appear like this:
Extracted data from bank statements

Extracted data from bank statements

  1. Convert bank statements to Excel

Once you have the extracted data from the bank statement, you can download it or send it to any application of your choice.

To convert bank statements to Excel, click on “export” and “download” the Excel file.

As you can see, it’s quite easy to create a template and download the bank statements as a CSV file. To summarize, Parseur as a bank statement OCR has the following benefits in extracting data from PDF bank statements:

  • Works with text-based, image-based, and scanned bank statements
  • Extracts data from tables and repetitive blocks
  • Uses Zonal OCR and dynamic OCR to capture all the data
  • Automatic layout detection
  • Zero parsing rules which mean zero coding knowledge required
  • Convert bank statements to Excel automatically

Frequently asked questions about bank statements

How to perform data extraction from a PDF bank statement?

Just highlight the data that you want to extract and create a data field for it using the correct output format. You can refer to our tutorial video for more details.

How do I import bank statements into Google Sheets?

Parseur has a default formula that sends the bank extract automatically into Google Sheets. Learn more in this article on how to convert PDF to Google sheets

Can you scan bank statements into Excel?

Yes, you can either download the bank extract in a CSV file or use our native integrations to send the data to Excel

How do I convert my credit card statement to Excel?

It’s the same process as converting bank statements to Excel - point & click!

Is Parseur secure?

Data is stored in a secure server in the EU and Parseur is fully compliant with GDPR.

Who has access to my bank statements and parsed data?

We never access your data unless you request us to do so when contacting the support team.

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