n. The shock a person experiences when they receive a financial statement that contains negative news, such as a large credit card balance, a big drop in investment value, or excessive banking fees.
1998
Across New York these days, the post office is delivering "statement shock." That's what is inside the envelopes from the brokerage firms and mutual funds showing jaw-dropping third-quarter numbers for the billions invested in 401(k)s and retirement plans.
1998
For some people, they're like a "death from a thousand cuts" everymonth. A $5 charge here, an $8 charge there. After a particularly bad month, there may be several $25 fees for overdrafts.
Some banks have heard customers' complaints and offer ways they say will ease — or at least offset — monthly statement shock.
Some banks have heard customers' complaints and offer ways they say will ease — or at least offset — monthly statement shock.
1993 (earliest)
You've heard of sticker shock? This is statement shock. You know your credit card has not left the shelter of your wallet, but your monthly bill reads like a spendthrift's spree through Monte Carlo.