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? ›

Here's a list of what common banking abbreviations relate to: APR – Annual Percentage Rate (relates to credit interest) BBP – bill payment. BGC – bank giro credit. CAT – a standard applied to ISAs that stands for reasonable Charges, easy Access, fair Terms.

How do you read a bank statement summary? ›

  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.

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

See if your card issuer has its own merchant search tool by calling the number on the back of your credit card. Contact any merchants you did business with on the date of the charge, and ask them how their business shows up on credit card statements.

What does BP stand for on a bank statement? ›

BP – Bill Payment

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

What are the abbreviations for transaction? ›

TX - Transaction | AcronymFinder.

What is the abbreviation for transaction code? ›

TC stands for Transaction Code.

How do you analyze a bank financial statement? ›

How to analyse banks
  1. Capital adequacy ratio (CAR) It is the measure of a bank's available capital divided by the loans (assessed in terms of their risk) given by the bank. ...
  2. Gross and net non-performing assets. ...
  3. Provision coverage ratio. ...
  4. Return on assets. ...
  5. CASA ratio. ...
  6. Net interest margin. ...
  7. Cost to income.

What is a Summarised record of transactions? ›

Ledger is a summary of all transactions relating to a particular account.

What is TST * on my bank statement? ›

A "TST" charge in your credit card activity is partly processed by a company called Toast. TST is an abbreviation for the company and is included in the transaction description because the label helps define the record of the transaction.

How do banks investigate unauthorized transactions? ›

How Do Banks Investigate Fraud? Bank investigators will usually start with the transaction data and look for likely indicators of fraud. Time stamps, location data, IP addresses, and other elements can be used to prove whether or not the cardholder was involved in the transaction.

What is a charge ID on a bank statement? ›

A charge code is an identifier (typically a word or abbreviation of words) that links a charge to a particular line item or fee. These codes will appear on your bank account statements.

What does DC mean on a bank statement? ›

A Direct Debit from your account that has failed to clear, for example in the case of not having enough funds.

What is abbreviations list? ›

T is the twentieth letter of the English alphabet. 2. T or t is a written abbreviation for words beginning with 't', such as 'ton' and 'time'. 3. See to a T.

What are 5 examples of 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.

What are the 4 major transactions? ›

There are four main types of financial transactions that occur in a business. The four types of financial transactions that impact of the business are sales, purchases, receipts, and payments.

What does TRX mean in banking? ›

Transaction Services (TRX) is the leading payment card processing solution for merchants looking to improve their financial performance.

What is the abbreviation for bank transfer? ›

TFR – Transfer. If you see TFR on your bank statement, it means you've transferred money between bank accounts.

What is the abbreviation for funds transfer? ›

EFT (electronic funds transfer) is a term that includes ACH bank transfers, wire transfers, and other online electronic payment methods.

What are the 5 types of financial statements? ›

5 Types of Financial Reports and Their Benefits for Business
  • Balance Sheet.
  • Income Statement.
  • Cash Flow Statement.
  • Statement of Changes in Capital.
  • Notes to Financial Statements.
Dec 28, 2022

How do you read a bank balance sheet? ›

The balance sheet is broken into two main areas. Assets are on the top or left, and below them or to the right are the company's liabilities and shareholders' equity. A balance sheet is also always in balance, where the value of the assets equals the combined value of the liabilities and shareholders' equity.

What are the 5 methods of financial statement analysis? ›

There are five commonplace approaches to financial statement analysis: horizontal analysis, vertical analysis, ratio analysis, trend analysis and cost-volume profit analysis.

What information is listed on a 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.

Does a bank statement show how much money you have? ›

The activity shown on your bank statement includes information such as processed deductions and deposits, your average daily balance, and any interest earned. You will not see your current balance or any pending transactions.

What is the rule of thumb for checking accounts? ›

How Much You Should Have In Your Checking Account. A good rule of thumb is to have one to two months' worth of living expenses in your checking account. The rest you should put into savings, like an emergency fund. It's a good idea to keep enough to cover three to six months' worth of expenses in emergency savings.

What is a record to show all types of transactions? ›

Journals record all of the transactions that are made by a company. Journals can cover all of the entire transactions of a company or there can be different journals for different areas of the firm.

How do you classify transactions? ›

Types of Accounting Transactions based on Institutional Relationship
  1. External transactions. These involve the trading of goods and services with money. ...
  2. Internal transactions. ...
  3. Cash transactions. ...
  4. Non-cash transactions. ...
  5. Credit transactions. ...
  6. Business transactions. ...
  7. Non-business transactions. ...
  8. Personal transactions.
Mar 14, 2023

What is a record that shows all of the transactions for a bank account? ›

A bank statement is a list of all transactions for a bank account over a set period, usually monthly. The statement includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period.

What does TB mean on bank statement? ›

Transaction Banking (TB) can be defined as the set of instruments and services that a bank offers to trading partners to financially support their reciprocal exchanges of goods (e.g.trade), monetary flows (e.g., cash), or commercial papers (e.g., exchanges).

What does SQ mean on a credit card statement? ›

Identify Square Purchases

If you make a purchase with a merchant who uses Square to accept payments in person, over the phone, or through Square Online, the characters SQ* or gosq.com, the merchant's name or business name, and business type will appear on your credit card statement.

What is CSC service work on bank statement? ›

Card Security Code (CSC) checks are provided as additional fraud protection for online transactions to verify the code entered during transaction. This number is also known as the Card Verification Value or CVV2.

What makes a transaction suspicious? ›

Generally speaking, a financial transaction might be deemed suspicious if it is unlike any other activity that has occurred within that account. Of course, an activity being new will not necessarily mean that any malicious actions have occurred.

Can banks see all your transactions? ›

Do banks look at your transactions? Bank tellers look at your transactions but cannot see what you purchased. Looking at the money coming in and out allows tellers to assist with your account.

How do you know if a bank is investigating you? ›

If your bank account is under investigation, the bank will typically notify you. You might receive an informal notification via email, but generally, you'll also get a formal notification by mail. This is especially true if it necessitates the bank freezing your account.

What is a FPO payment? ›

FPO – Faster Payment Outwards

If you see FPO on your bank statement, it means 'Faster Payment Outwards', and indicates you've sent money to another account.

What are the abbreviations for account? ›

There are two common ways to abbreviate account. They are, acct. a/c.

What is the abbreviation for transaction in banking? ›

ISA: Individual Savings Account. ITL: International transfers. OTR: Online banking transaction. POS: Point of sale/debit card transactions. REV: A debit returned to your account.

What does CR and DR mean on a bill? ›

A "Dr" balance means a debit balance which is an amount due for payment, whilst a "Cr" balance means a credit balance which indicates that no payment is due.

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.

What is the abbreviation for explanation of payment? ›

Your Explanation of Payment (EOP) provides important information regarding the adjudication of your claims.

What is the abbreviation for debit? ›

Debit (DR) vs. Credit (CR)

What is the abbreviation for balance payment? ›

b.o.p. See balance of payments (b.o.p.)

What does PL2 mean on bank statement? ›

Interest received/paid (PL1/PL2)

Does Dr mean I owe money? ›

Overdrawn balance is marked with the letters dr (meaning debit). An overdraft facility fee will apply per annum or per overdraft sanction (whichever is the more frequent). Credit Transfer – This is a manual lodgement to your account from a branch or bank other than the account holding branch.

What does EFT in cash transfer stand for? ›

Electronic funds transfer (EFT) is a catch-all term that includes a wide variety of electronic payments, like credit card payments, ACH payments, and wire transfers.

What are the abbreviations for financial? ›

There are two common abbreviations of financial: financ. and fin. If you want to make either of these plural, simply add on an “s.”


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