How To Convert A Bank Statement To Excel File?

Bank statements are generally in PDF format, which is ideal for viewing. However, most individuals across the globe prefer Excel as it makes data organizing and analysis far more accessible. 

Moreover, it is always better to have data in Excel format for financial planning and budgeting as it makes tracking and segregating far more accurate than in PDF format. While multiple tools are available online to convert a PDF file into an Excel file, one factor is often overlooked—security. 

Sensitive and personal conversions, such as bank statement file conversion, need an added layer of security to ensure that personal data remains personal. Below is a step-by-step guide on how you can convert your bank statement into Excel format without having to worry about security. 

Step #1: Access the Tool

The foremost step is to open a tool of your choice. Let’s say it’s convertbankstatement.io. Its advanced SSL technology ensures that the data uploaded is encrypted and its conversion is compatible with worldwide banking statements.

Step #2: Uploading Your Bank Statement

Locate the file on your system and upload it to the tool. Since the statement is usually downloaded through the bank's website, it can be found through My Computer → Downloads. Double-click or drag & drop the file into the green box to upload it. 

Step #3: Starting the Conversion Process

The conversion process is simple: click on the convert button on the screen within the green box.

Clicking the ‘Convert to Excel’ button will complete the conversion process. The process is secured by advanced SSL technology, so it is entirely sure that it will be safe and that no information will be leaked.

Step #4: Download the Excel File

Once the conversion is complete, the file will be ready to download by clicking on the 'Download' button inside the green tab.

Since this download process is similar to the download from your bank’s website, it is typically found in the downloads section of My Computer. AI powers the accuracy of the conversion and shall have no lags or deficiencies.

Any information shared on the internet causes users to worry about its safety. Therefore, it is only fair that conversion tools used must have enough provisions for secure bank data conversion. The ever-growing risks of cyber threats are well-known to both users and tool developers. However, only a few tool developers have made efforts to address that gap in the sector.

To be more precise, the conversion tool-developing community as a whole needs to take the security of these files more seriously. Until then, relying on the handful of tools available on the internet remains the only option. 

#1 - Data Encryption:

Converter tools on the internet usually provide great convenience to their users. However, only a handful of these websites use encryption. Encryption is the conversion process of data to secretive code that can only be accessed or used by authorized parties with specific digital codes or keys. 

As users of these conversion tools, we must ensure that these websites use Transport Layer Security (TLS) or Secure Sockets Layer (SSL) as their secure algorithms. These algorithms shall ensure that the communication between your device or system and the platform is protected, thereby protecting the data. 

#2 - Control Over Data:

All converters require some information from either the user or their device to provide all services on their website. The ability of the user to be in charge of how their data is used is an integral part of using any converter or website in general. 

Users must be able to make a call about how their data is collected and what is collected, stored, and used by the website. Essential information, such as your IP address or system OS, might be required for conversion. However, additional information, such as address or other personal details, might be unnecessary. Therefore, always use a website that allows you to make the call about how your data is used. 

#3 - Automatic Deletion of Files:

Users' worries are not over once the conversion is complete and they download their data. The data can remain in the converter’s system for longer and be misused just as much as possible during the conversion. 

Hence, using a converter that removes your data as soon as the conversion is complete is the safest option to ensure that your free bank statement converter maintains the privacy of the data. The sign of a converter with the most effort toward safety is that it removes the files immediately after conversion.

Converting a file from one format to another is one of the most straightforward tasks on the Internet today. However, there are facets to these simple tasks that are almost always overlooked and can cause severe privacy breaches. 

The foremost concern is the accuracy of the conversion to Excel, as it is the workbook where all analysis and scrutiny of personal and professional accounts occur. Once that is sorted, the safety of the data is also critical. Hence, encryption, control over the use of data, and deletion of data must also be considered. All these data points need to be carefully considered before carrying out the simple task of conversion. 

Now, it is not practical to check all these things for 30 minutes to convert a file that takes less than 10 seconds. Let us save you the headache. Next time you want to convert any data, be it a simple document or something more private like a bank statement, use convertbankstatement.io to ensure that all of the above parameters are met, your data is safe, and the conversion is as accurate as it can get!