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.


  • Previous
  • 1
  • Next
  • More than TWO MILLION Britons receive less than £100 a week... The North-South inheritance tax divide: Just 4% of estates... Loyalty to HSBC now pays 4p per week as it cuts the returns... People need a savings pot of £17k to feel 'financially...

Share this article



  • Best savings rates: Cash Isas, fixed-rate Isas, regular savings Isas


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

(Video) Business vocabulary list with meaning | Learn 50 business words in 10 minutes

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.

(Video) 🏦 Bank Related English Words with Hindi meaning | बैंक से जुड़े शब्द | English speaking practice

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.

(Video) Banking Explained – Money and Credit

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.

<!- - ad: https://mads.dailymail.co.uk/v8/us/money/moneysaving/article/other/mpu_factbox.html?id=mpu_factbox_1 - ->


Easy access saving

20 bank statement abbreviations explained in simple terms (7)

(Video) BANKING SECTOR basics for beginners | Banking Terms and Concepts | Financial Ratios for Bank Stocks

Easy access saving

Market-leading 3.82% interest rate*

Deposit from £1 Interest paid monthly

Fibre broadband

20 bank statement abbreviations explained in simple terms (8)

* £50 Amazon voucher on sign-up

£50 Amazon voucher sign-up*

24 months at £32 per month

Two-year fixed rate

20 bank statement abbreviations explained in simple terms (9)

Two-year fixed saving

Market-leading 5.15% interest rate*

Deposit from £1,000 Interest paid monthly


20 bank statement abbreviations explained in simple terms (10)


£100 Amazon voucher*

£31 per month for 24 months

* Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.

(Video) 15 Stunningly Beautiful English Words YOU Should Use More Often! (+ Free PDF & Quiz)

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.


What do the abbreviations on my bank statement mean? ›

DR – debit balance (overdrawn) IBAN – International Bank Account Number (you can find this on your statement) IMO – International Money Order. ISA – Individual Savings Account. REM – remittance: a cheque credited to your account that was not paid in at your account-holding branch or bank.

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 you find out where a charge came 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 is the abbreviation for transaction in banking? ›

txn (plural txns) Abbreviation of transaction.

What are the abbreviations for transaction? ›

TXN, abbreviation for transaction (disambiguation)

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.

How can I learn bank statements? ›

How to Read a Bank Statement
  1. Bank information. Your bank's contact information should be on your statement, including your phone number and mailing address.
  2. Personal information. ...
  3. Statement period dates. ...
  4. Starting and ending balances. ...
  5. Transactions. ...
  6. Fees. ...
  7. Interest earned.
Oct 25, 2022

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 are the abbreviations for account? ›

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

What does Mobi mean on bank statement? ›

Transactions via MobiCash are card-based and will appear on your bank statement in the same timeframe that you could expect normal card transactions from your bank to clear. This can be anything from immediately to a couple of days depending on your card issuer.

What does CK mean on bank statement? ›

CK- Cash Receipts — Logan City School District.

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 funds transfer? ›

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

What is a payment transaction code? ›

Transaction codes represent the various bank transactions that you will use in the Accounts Payable and Accounts Receivable applications. You can define transaction codes for types of payments, such as checks or bills of exchange, or for bank services, such as deposits or service charges.

What is the example of transaction code? ›

A transaction code may, for example, be associated with deposit payments (CASHIERING>DEPOSIT LEDGER TRN CODE) or with packages (RATES>DEFAULT PACKAGE TRN CODE), among others.

What are the 5 types of financial statements? ›

The 5 types of financial statements you need to know
  • Income statement. Arguably the most important. ...
  • Cash flow statement. ...
  • Balance sheet. ...
  • Note to Financial Statements. ...
  • Statement of change in equity.

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 basic financial statements? ›

The three main types of financial statements are the balance sheet, the income statement, and the cash flow statement. These three statements together show the assets and liabilities of a business, its revenues and costs, as well as its cash flows from operating, investing, and financing activities.

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 are the numbers on bank statement? ›

Find a recent bank statement and look for a 10-12 digit number labeled “Account Number.” It's usually located at the top of the document on either the right- or left-hand side.

What is the rule of thumb for checking accounts? ›

As a rule of thumb, you should have one to two months' worth of living expenses in your checking account. This will help you cover the everyday expenses in your budget without the worry of overdrawing on your account and being charged an overdraft fee.

What are the 4 pieces of information a bank statement tells you? ›

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 are the different types of bank statements? ›

Financial institutions offer two types of bank statements: (i) paper bank statements and (ii) electronic bank statements.

Why do bank statements go for 3 months? ›

The lender will want to see a full audit trail of all monies over a 3 month period, even if internal transfers. So if the current account mentions another entry from another account you own then 3 months statements will be needed from that account too.

What does POS mean on bank charge? ›

A PoS (Point of Sale) machine is an electronic device through which a customer can make payment to merchant in exchange for goods or after provision of a service through debit/credit/prepaid cards or QR scanning. Merchant may issue a printed receipt / e-receipt for successful transaction. Types of PoS.

Why does my bank statement say POS? ›

What does POS mean on a bank statement? POS in banking means that you use your debit card to purchase at a point of sale (POS) location, such as a store's cash register or POS system. In addition, POS on bank statements is the transaction type labeled “POS”.

What is a POS transaction on my bank statement? ›

What is a point of sale (POS) transaction? A point of sale transaction is a payment for goods or services, usually made in a retail setting. POS transactions can be conducted in person or online. A business uses a POS system to process card payments or other forms of electronic payments at a physical location.

What is hidden charges? ›

Hidden fees are any unexpected fees that consumers get hit with when purchasing goods or services. The reason these are referred to as hidden is because the consumer might not have been expecting the charge and, in reviewing their financial data or statements, finds out they've incurred additional charges.

What is the formula for charge number? ›

Charge number (z) refers to a quantized value of electric charge, with the quantum of electric charge being the elementary charge, so that the charge number equals the electric charge (q) in coulombs divided by the elementary-charge constant (e), or z = q/e.

How do you find the amount of charge? ›

The electric current, 𝐼 , in a wire can be found using the formula 𝐼 = 𝑄 𝑡 , where 𝑄 represents an amount of charge that passes a point in the wire over some amount of time, 𝑡 . We can practice using this equation by working through some examples.

What bank transactions are monitored? ›

Transaction monitoring is the means by which a bank monitors its customers' financial activity for signs of money laundering, terrorism financing, and other financial crimes.

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.

How do banks report suspicious activity? ›

The SAR is filed by the financial institution that observes suspicious activity in an account. The report is filed with the Financial Crimes Enforcement Network, or FinCEN, who will then investigate the incident. FinCEN is a division of the U.S. Treasury.

What is the abbreviation for routing? ›

An ABA number, also known as Routing Transit Number (RTN) or ABA Routing Number, is a nine-digit code assigned by the American Bankers Association to identify each financial institution in the country.

What does FFC stand for in accounts? ›

For further credit to meaning - Wise.

What abbreviations are used in accounts payable? ›

Accounts payable (AP)

Accounts payable (AP) definition: The amount of money a company owes creditors (suppliers, etc.)

What does VDC mean on bank statement? ›

AIB Debit Card - Visa debit
Card FunctionStatement Narrative
Visa debit used at AIB ATM network.ATM - "Merchant Name"
Visa debit ATM (non-AIB Banklink ATM)VDA - "Merchant Name"
Visa debit POSVDP - "Merchant name"
Visa debit ContactlessVDC - "Merchant Name"

What is SMC G on bank statement? ›

Smarter Markets Coordination Group (SMCG)

What does Cao mean on a bank statement? ›

The Chief Administrative Office (CAO) provides corporate strategy and direction around the company's efforts to serve customers and clients across our eight lines of business.

What does SMS mean bank? ›

SMS banking' is a form of mobile banking. It is a facility used by some banks or other financial institutions to send messages (also called notifications or alerts) to customers' mobile phones using SMS messaging, or a service provided by them which enables customers to perform some financial transactions using SMS.

What is the abbreviation of BBB in banking? ›

Banks Board Bureau was constituted in 2016 as a major step towards banking reform in general and revamping the public sector banks in particular.

What does LG mean in banking? ›

A Letter of Guarantee (LG) issued by KFH covers an agreement by the Bank to pay another party (the beneficiary) if the Bank's customer (the principal or applicant) defaults in his debt or obligation (a job contract) to the beneficiary. Main types of LG include: Tender Guarantee. Performance Guarantee.

What is 2.99% CD on my bank statement? ›

“NON-STG PURCH FEE”, “NON-STG TRANS FEE” and “CD PAYMENT” all refer to the same tax placed upon products purchased from outside the UK. The standard fee is 2.99% on the cost of the product. The actual percentage added to the VAT from the non-STG trans fee, 2.99%, isn't particularly big.

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 a CD in financial transactions? ›

A certificate of deposit, or CD, is a type of savings account offered by banks and credit unions. You generally agree to keep your money in the CD without taking a withdrawal for a specified length of time. Withdrawing money early means paying a penalty fee to the bank.

What is the TSB 2.99% charge? ›

If you choose local currency, TSB will need to convert the withdrawal to pounds and will charge you a non-pounds transaction fee of 2.99% of the value of the withdrawal and a non-pounds cash fee of 1.5% (min £2, max £4.50 not charged for). These fees do not apply to Spend & Save Plus cards.

What is a non GBP cash fee? ›

A non-sterling transaction fee is charged when you make a transaction in a foreign currency. When you use your card overseas, your card issuer needs to convert the transaction from the local currency into sterling - resulting in unwanted fees.

What is the Abbreviation for balance payment? ›

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

What does EFT in cash transfer stand for? ›

Electronic Funds Transfer (EFT) is the process by which a user of one bank can transfer money from their account to another by way of payment.

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.”

What is the abbreviation for balance? ›

¥ - Mandatory Abbreviation
18 more rows

What is the abbreviation for monthly payment? ›

You might abbreviate the word monthly to mthly on an invoice for goods or services, on accounts payable paperwork, or on notices of regularly scheduled meetings.

What is the payment abbreviation PMT? ›

"PMT" stands for "payment", hence the function's name. For example, if you are applying for a two-year car loan with an annual interest rate of 7% and the loan amount of $30,000, a PMT formula can tell you what your monthly payments will be.


1. don't move!!!!!! #squidgame
(Still Watching Netflix)
2. daily use english sentences with tamil meaning || spoken english through tamil || learn english
(Only 26 letters)
3. 4 EASY $20,000 Personal loans in 24 Hours 300 FICA score rates 9.95% and up.
(Andrew Cartwright)
4. Learn English: 10 abbreviations you should know
(English with Emma · engVid)
5. Top 20 Important Banking Terms | Warrior 2.0 Financial Awareness Classes | Adda247
(Adda247 )
6. Brave woman fights off male attacker while alone at gym | USA TODAY #Shorts


Top Articles
Latest Posts
Article information

Author: Errol Quitzon

Last Updated: 29/08/2023

Views: 6474

Rating: 4.9 / 5 (79 voted)

Reviews: 86% of readers found this page helpful

Author information

Name: Errol Quitzon

Birthday: 1993-04-02

Address: 70604 Haley Lane, Port Weldonside, TN 99233-0942

Phone: +9665282866296

Job: Product Retail Agent

Hobby: Computer programming, Horseback riding, Hooping, Dance, Ice skating, Backpacking, Rafting

Introduction: My name is Errol Quitzon, I am a fair, cute, fancy, clean, attractive, sparkling, kind person who loves writing and wants to share my knowledge and understanding with you.