20 bank statement abbreviations explained in simple terms (2023)

Making sense of your bank statement is no mean feat as it's often laden with complicated and seemingly unnecessary jargon.

Keeping track of how much is going in and out of your accounts could become even more essential once the £100 daily contactless card spending limit kicks in from 15 October.

With the help of experts at savings platform Raisin, This is Money highlights some of the most common abbreviations seen in bank statements, and explains, in simple terms, what they mean.

Know the details: Abbreviations in bank statements look complex but are pretty straightforward once you get to grips with them

While the 20 most pertinent terms and abbreviations are covered, some banks and building societies may use different abbreviations.

If you are concerned about any transactions on your bank statement, or want more clarity about what certain terms mean, it is a good idea to get in touch with your provider directly.


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First up in our round-up of some of the most common bank account statement abbreviations is BMACH.

Despite looking complicated at first glance,BMACH is simply a brand of an Automated Teller Machine, otherwise known as an ATM or cash machine, where you can get money in and out of from a hole in the wall.

If you see BMACH on your bank statement, it means you have made an ATM transaction, Raisin UK says.

Of course, if you do not recognise the transaction, you should contact your bank immediately.

Simple:BMACH is simply a brand of an Automated Teller Machine, otherwise known as an ATM or cash machine

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2. TFR

On a bank statement, the abbreviation TFR generally refers to a transfer of money made.

If you see TFR on your bank statement, it means you have transferred money between bank accounts.

3. FPI

An abbreviation of of FPI on a bank statement refers to Faster Payments Inwards.

An FPI payment is made using the Faster Payment electronic system. It means you have received money from another account.

4. POS

If you find the abbreviation POS littered all over your bank statement, do not worry, it simply refers to payments that have been made using your debit card.

For many people this is an abbreviation they are likely to come across frequently when scrutinising their accounts.


S/line stands for statement line. If you see it on your bank statement, you will know it is an individual statement that is important for your bank.


If you see the abbreviation INT'L on your bank statement it means you have made a foreign transaction.

This can occur, for example, if you use your card when abroad or purchase an item from overseas while here in Britain.

Rising: The contactless card spending limit is rising to £100 in October

Many banks slap fees and charges on foreign transactions, so make sure you read your account's specific terms and conditions before splashing out overseas.

7. BP

The abbreviation BP on your bank statement means you have made a bill payment.

According to Raisin UK, you might also see an extension of this, BP/SO, which stands for bill payment and standing order. This means you have paid a bill by standing order.

8. BGC

BGC stands for bank giro credit.

If this abbreviation is on your bank statement, it means you have deposited cash or cheques at a bank or building society branch.

9. CHG

CHG stands for charge. It means you have been charged for a transaction you have made.

10. S/0

A standing order is a regular payment for a fixed sum of money that is deducted from your bank account.

It is an instruction to your bank, whereas a direct debit gives permission to a company to take money from you.

These can quickly stack up and end up being a big monthly drain on your income, meaning it is important to regularly review your statements to see if you can still afford all your standing orders.

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Many banks now give customers the option to cancel standing orders when they want to, but it is always sensible to read the specific terms and conditions involved to find out the exact procedures required.

11. BAC

A BAC payment on your bank statement means you have used an electronic system to make a payment directly from one account to another.

12. NYA*

The format of this bank abbreviation is usually NYA* followed by the owner of the vending machine, and it simply means you have made a payment with a card at a vending machine.

13. BSP

A BSP is a bill or third payment that is made in-branch at a bank or building society.

Many banks are keen to get people to complete such payments online, as it saves them money, and could, they claim, save customers time.

14. CUI

You will find the abbreviation CUI on your bank statement when a cheque has failed to clear.

Get in touch with your bank or building society to try and find out what has happened and how the issue can be rectified as quickly as possible.

15. DIV

The DIV abbreviation stands for dividend.

If you see this in your bank statement it means you have received a dividend payment from shares you hold.

Big banks were forced by the Government to stop dishing out dividends to their investors last year, and many other companies halted payouts until the fallout from the pandemic became clearer. Payouts are now, however, resuming at pace once again.

16. DD or DDR

The abbreviations DD or DDR will be a common sight on many people's bank statements, as they refer to direct debit payments.

It signals a regular payment of a fixed or a variable amount that you make to a savings account or third party.

As with a standing order, direct debits can prove costly, so it is worth keeping on top of them to see if you can still afford them all.

17. DWP

DWP stands for the Department for Work and Pensions. You will see this abbreviation in your bank statement if the DWP deposits money into your account. This could be for certain benefits, for instance.

18. ERTF

An ERTF, or Exchange Rate Transaction Fee, reference shows up on your bank statement when you use a card at a cash machine abroad.

Fees can apply when you make transactions abroad, so read your account terms and conditions carefully before you travel.

19. IMO

An IMO, or International Money Order, means you have made a payment abroad.

20. REV

A REV, or reversal, shows on your bank statement when cash from a starting order or direct debit has been returned to you.

Do I really have to scrutinise my bank statements?

Delving into the detail of a bank statement will not be at the top of anyone's wish list.

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However, it is vital to keep on top of what is coming in and going out of your bank accounts, so you can ensure any savings goals you have will be met, and that you are not spending more than you can really afford.

Keeping abreast of bank statements is also extremely important when it comes to spotting potentially fraudulent transactions. The first sign that a crook has accessed your account can often be a single transaction in a bank statement.

'Knowing your bank abbreviations can help you understand what is and what is not a legitimate transaction', experts at Raisin UK, said.

If you see a transaction on your bank account that you do not recognise, or money has left your account in an apparently fraudulent transaction, the first thing to do is contact your bank.

They will immediate action to protect your money, which may mean freezing your account and sending you a new card.

You can also report the incident to the police via Action Fraud. The police will log the crime and send you a crime reference number.

Action Fraud will not call you unless you have requested them to, and will never ask for your bank details.

If you are unsure whether a call is genuine, call the Action Fraud team on 0300 123 2040. If you are deaf or hard of hearing you can contact Action Fraud on textphone at 0300 123 2050.

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What do the abbreviations on my bank statement mean? ›

CRE – Credit payment. DDR – Direct Debit. DR – debit balance (overdrawn) IBAN – International Bank Account Number (you can find this on your statement) IMO – International Money Order.

What are some banking terms? ›

  • Account balance. The total amount of all funds in your account.
  • Adjustable rate. A rate of interest that can vary during the term of the loan. ...
  • Annual percentage rate (APR) ...
  • Annual percentage yield (APY) ...
  • Assets. ...
  • ATM fees. ...
  • Auto loan. ...
  • Automated clearing house (ACH)

How do you read a bank statement? ›

  1. Account: Your account number and type of. account number is shown here.
  2. Period: How far back the transactions. ...
  3. Date: When you made the transaction or. ...
  4. Type of transaction made. ...
  5. Description: What/where the money was. ...
  6. Paid In: The value of the transaction made. ...
  7. Balance: Shows the amount of money you.

What does FIP mean on my bank statement? ›

Financial Inclusion Plan is the RBI designed financial inclusion measures to be implemented by commercial banks to provide banking services in unbanked villages.

What are the abbreviations for account? ›

Abbreviations Used in Accounting Materials
259 more rows

What are the abbreviations for finance? ›

There are two common abbreviations of financial: financ. and fin.

What are the six types of banking transactions? ›

Types of bank transactions include cash withdrawals or deposits, checks, online payments, debit card charges, wire transfers and loan payments.

What are the 3 C's in banking? ›

Character, capital (or collateral), and capacity make up the three C's of credit. Credit history, sufficient finances for repayment, and collateral are all factors in establishing credit. A person's character is based on their ability to pay their bills on time, which includes their past payments.

What are the 4 C's of banking? ›

Standards may differ from lender to lender, but there are four core components — the four C's — that lender will evaluate in determining whether they will make a loan: capacity, capital, collateral and credit.

What are the 5 columns on a bank statement for? ›

Columns commonly include the date of the transaction, a description of the activity, debit (subtraction), credit (addition) and the running balance. Some banks may separate the withdrawals from the deposits, including any interest payments.

What 5 things will be shown on your bank statement? ›

Here's the information you'll see for each transaction:
  • Date it occurred.
  • Description. You might see the name of a restaurant or gas station where you swiped your debit card, or the name of your employer who deposited money into your account. ...
  • Credits. This is the amount a deposit added to your account.
  • Debits. ...
  • Balance.
Jan 18, 2022

What does PP * mean on bank statement? ›

Paddy Power

What are abbreviations examples? ›

Abbreviations, on the other hand, can be shortened forms of words or phrases, and need not necessarily be made up of the initial letters of either. ASAP and appt (for appointment) are both considered abbreviations, but only ASAP is an acronym. Acronyms are a type of abbreviation.

What are 5 abbreviations? ›

15 English abbreviations you need to know
  • But first, a quick cheat sheet:
  • RSVP – Please reply. ...
  • ASAP – As soon as possible. ...
  • AM/PM – Before midday (morning) and after midday (afternoon) ...
  • LMK – Let me know. ...
  • BRB – Be right back. ...
  • DOB – Date of birth. ...
  • CC/BCC – Carbon copy/blind carbon copy.
Jan 19, 2022

What is the abbreviation for transactions? ›

TXN, abbreviation for transaction (disambiguation)

What are the four abbreviations? ›

There are four different types of abbreviations in English: Initialism. Acronym. Shortening. Contraction.

What is cash flow abbreviations? ›

Cash Flow (CF)

What are the 4 types of transactions? ›

There are four types of financial transactions — purchases, payments, receipts, and sales.

What is ABC banking? ›

Bank ABC (incorporated as Arab Banking Corporation B.S.C) is an international bank headquartered in Manama, Kingdom of Bahrain. Our network spreads across five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia.

What are the 3 R's of credit? ›

There are three basic considerations, which must be taken into account before a lending agency decides to agency decides to advance a loan and the borrower decides to borrow: returns from the Proposed Investment, repaying capacity, it will generate and. The risk bearing ability of the borrower.

What are the 3 elements of credit? ›

Character, Capacity and Capital.

What are the 4 pillars of credit? ›

Credit score, income, employment and down payment are the four pillars of the loan approval process. Your approval, interest rate and program will largely be based on a combination of these four items. That being said, these four are not the only factors that constitute loan approval.

What is the High 5 banking method? ›

With the High-5 Banking Method, you'll have 5 accounts total: two for checking- bills and lifestyle; and three for savings – emergencies, long term goals, and short term goals. Bills, Bills, Bills. This goes from housing expenses, to the aguacates you pick up for groceries. Lifestyle.

What are the 7c in banking? ›

The 7Cs credit appraisal model: character, capacity, collateral, contribution, control, condition and common sense has elements that comprehensively cover the entire areas that affect risk assessment and credit evaluation.

What are the main components of a bank statement? ›

Key Takeaways

The statement includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period. Account-holders generally review their bank statements every month to help keep track of expenses and spending, as well as monitor for any fraudulent charges or mistakes.

What is the first page of a bank statement called? ›

Your statement has two main parts: the account summary and transaction detail. The account summary is located at the top of the first page and starts with your opening balance, adds deposits and other credits, adds any interest, subtracts all checks, withdrawals and service fees, then ends with the closing balance.

What is a CSV transaction? ›

Comma-Separated Values (CSV) is a format that allows you to view your transactions in a spreadsheet layout.

What are the most common transactions that appear on a bank statement? ›

Debit card purchases and payments. ATM withdrawals. Bill payments. Bank fees.

What is bank statement also called? ›

Bank Reconciliation Statement is a record book of the transactions of a bank account. This statement helps the account holders to check and keep track of their funds and update the transaction record that they have made.

What are some examples of fees on a bank statement? ›

7 common banking fees
  • Monthly maintenance/service fee.
  • Out-of-network ATM fee.
  • Excessive transactions fee.
  • Overdraft fee.
  • Insufficient fund fee.
  • Wire transfer fee.
  • Early account closing fee.
  • Bottom line.

How do I find out where a charge came from? ›

There are a few ways to look up unfamiliar credit card charges:
  1. Use a search engine to look up the words in the description of the charge on your statement - exactly as it appears.
  2. See if your card issuer has its own merchant search tool by calling the number on the back of your credit card.

What is the bank transaction code? ›

The bank transaction code is used to allow the reconciliation between the reason of the cash movement and the sub-ledger and/or the routing of the information to the adequate processing system at the customer side.

What is transaction abbreviation? ›

TXN, abbreviation for transaction (disambiguation)

What kinds of transactions show up on your bank statement? ›

A bank statement is a record of all the banking transactions—including deposits, withdrawals and transfers—that apply to your account over a given period of time. Your bank statement may also include the starting and ending balances of the account, your account number and other important account information.

How do you identify an unknown transaction? ›

How to identify unknown transactions on your statement
  1. Compare your receipts. This may seem like an obvious one, but it can save a lot of hassle: cross-reference the transaction history in your account with your receipts. ...
  2. Double check transaction dates. ...
  3. Confirm conversion rate. ...
  4. Go online and search the account name/number.
Sep 5, 2017

How does a debit card get hacked? ›

Skimming. Identity thieves can retrieve account data from your card's magnetic strip using a device called a skimmer, which they can stash in ATMs and store card readers. They can then use that data to produce counterfeit cards. EMV chip cards, which are replacing magnetic strip cards, can reduce this risk.

How do I trace a bank charge? ›

Tracking an ACH transaction
  1. Find the ACH transaction trace number. Every ACH transaction has two Trace IDs, including one for the source and one for the destination. ...
  2. Contact the bank. If you are the one waiting to receive a payment, you should contact your own bank with the ACH trace number. ...
  3. Track the payment.

What is bank transaction code 21? ›

Description. 21. Automated return or NOC for a checking credit (codes 22, 23, and 24) 22. Automated deposit (checking credit)

What does transaction code 22 mean? ›

22. Checking Deposit (Credit)

What abbreviation means example? ›

E.g. means “for example.” (It stands for exempli gratia in Latin.) It is used in much the same ways as 'for example,' coming before an item or list of items. Set an immediate timeline, e.g., three weeks, to learn all this.

What does TRX mean in banking? ›

Transaction Services (TRX) is the leading payment card processing solution for merchants looking to improve their financial performance. We have deep industry knowledge in electronic payments and merchant platform technology.

What is the abbreviation for statements? ›

STMT stands for Statement

This definition appears very frequently and is found in the following Acronym Finder categories: Military and Government. Business, finance, etc.

How do you identify account transactions? ›

The accounting transaction analysis process in 5 steps
  1. Identify the accounts involved. ...
  2. Establish the nature of the accounts. ...
  3. Determine which account increases and which one decreases. ...
  4. Apply the rules of debit and credit on accounts. ...
  5. Record the transactions in your journal entry.
Mar 16, 2022

What is the structure of bank statement? ›

Your statement has two main parts: the account summary and transaction detail. The account summary is located at the top of the first page and starts with your opening balance, adds deposits and other credits, adds any interest, subtracts all checks, withdrawals and service fees, then ends with the closing balance.


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