Explanation of Bank Statement Abbreviations


Bank Statement Abbreviations

Bank Statement Abbreviations: Banks play the role of a reservoir of money and bank statement is what manifests the summary of an account holder’s finance’s details, transactions, withdrawals, the amount left in the bank. An account holder is to be meticulous enough to scrutinize the bank statement. So that you can probe the mistake in a given bank statement.

It has been discussed that why do you need bank statements. Bank statements have a crucial role in your lives because it decides. So that what financial conditions are you up to.

So be careful! and do keep your bank statements in a safe place so that when you need them in the future anywhere. You can show it to represent your current financial situation.

There are certain terms that you come across in the bank statement and you do not know about them. In order to edit the bank statement, you should have complete knowledge about each and every term that is on a bank statement.

Following is a list of few abbreviations and their meaning:


APR: Annual Percentage Rate hence A rate of interest payable over a year.
BBP or BP Bill Payment hence Payment of a bill
BAC or BACS Bankers’ Automated Clearing Services An electronic system to make payments directly from one account to another. Can take up to 3 working days to clear.
BGC Bank Giro Credit hence The deposit of cash or a cheque in a bank branch
BSP Branch Single Payment Bill or third-party payment hence made within a branch
CDL Career Development Loan hence A Government loan received for career development.
CDM Cash & Deposit Machine Cash machines which can be used to process pay-ins, bill payments, and withdrawals

CHG Charge Charge regarding a transaction
CHP or CHAPS Clearing House Automated Payment System Electronic transfer for large payments between accounts sent and received on the same day
CHQ Cheque Document that orders payment of money from a bank account to another person or organization
COR Correction Correction regarding a transaction error
CRE Credit payment Credit which has been added to your account
CSH Cash Cash which has been paid into your account
CUI Centralised Unpaid In (Unpaid Cheque) Cheque that has failed to clear

D/D or DDR Direct Debit A regular payment of a fixed or variable amount to a third party or some savings accounts
DIV Dividend A payment to your account from shares you hold
DR Account Overdrawn or Debit Item or Debit balance An indication on your statement to show that your balance is less than zero.
DWP Department for Work and Pensions Deposit into your account by the Department for Work and Pensions
ERTF Exchange Rate Transaction Fee Fee for the use of a card at a cash machine or POS (Point of Sale machine) abroad. You can avoid these in the future.
FPI or FP Faster Payments Inwards A ‘faster’ payment–made using the ‘Faster Payments’ electronic system–received from another account


FPO Faster Payments Outwards A ‘faster’ payment–made using the ‘Faster Payments’ electronic system–sent to another account
IBAN International Bank Account Number Usually required for international money transfers. when  making a payment between international bank accounts.
IBP Inter-Branch Payment Transfer of money between accounts at different bank branches
IMO International Money Order Used to make payments abroad.
INT Interest Credit or debit on your account associated to interest earned or incurred on your balance
ISA Individual Savings Account A tax-free savings account.
ITL International Transfer of money from your UK account to an account abroad
NDC Non-Dividend Counterfoil A payment to your account from shares held by you
OTR Online Banking Transaction Transaction carried out using online banking


POC Post Office Counters Transaction carried out over a post office counter
POS Point Of Sale/Debit Card Transaction A purchase made with your debit card, eg, at a retailer
REV Reversal A standing order or direct debit that has been returned
SAL Salary Salary payment paid into a bank account
S/O  STO Standing Order A regular payment of a fixed amount from your account to another account or a third party
TFR Transfer Transfer of money between accounts
TLR Teller Transaction A transaction carried out using a bank branch
UNP Unpaid A cheque credited to your account that was not paid in at your account-holding branch or bank

For more information, visit changebankstatement.com and stay connected to equip yourself with bounties of information along with the editing of bank statement, credit card statement, pay stub and many more.


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