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Bank statement abbreviations.

Bank statement abbreviations

What do they mean?

Money Team
Money Team
Editor
Updated 19 February 2024

Know your BACS from your CHAPS? There are so many terms found on bank and credit card statements and utility bills. This guide gives a full rundown, including breakdowns of popular gobbledygook, and reveals how to query terms on itemised bills and bank statements if they remain unclear.

Why should you check your statements?

There are two main reasons why you should check your bank statements...

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  • Make budgeting easier. Tracking spending via statements is a key step in maintaining a budget. This helps you accurately map your incomings and outgoings over a year, so you can assess whether it balances. See our Budget Planner guide for full information and a free downloadable spreadsheet. 

  • Identify fraudulent transactions. Fraud is often difficult to spot before it's too late. However, never assume an unknown charge on your bank statement is legit. Fraudsters can hit you for large or low amounts, and often favour hard-to-understand jargon to commit their crimes. Grasping bank-statement terms is an effective way of spotting suspicious transactions early.

    Thankfully, banks are legally responsible for refunding fraudulent transactions, unless it's proved a customer was grossly negligent. But it's important to check yourself, as unauthorised transactions not identified may never be refunded.

Common bank statement jargon explained

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A table is below of jargon that you may have come across on your bank or utility statements. We've tried to include as many popular terms as possible – yet this isn't an exhaustive list.

Unfortunately there's no set standard for statement abbreviations, so terms are likely to differ slightly across different banks or utility providers. For instance, the long-winded 'Clearing House Automated Payment System' term is referred on a Barclays bank statement as the acronym CHAPS, while on a NatWest statement it'll be known simply as CHP.

However, most terms are generally shortened in similar ways, so distinguishing between them shouldn't be too difficult.

Abbreviations on bank, credit card or utility statements

Abbreviation

What it stands for

Description

APR

Annual Percentage Rate

A rate of interest payable over a year. See APR examples

BBP or BP

Bill Payment

Payment of a bill.

BAC or BACS

Bankers' Automated Clearing Services

Electronic system to make payments directly from one account to another. Can take up to three working days to clear.

BGC

Bank Giro Credit

The deposit of cash or a cheque in a bank branch.

BSP

Branch Single Payment

Bill or third-party payment made within a branch.

CDL

Career Development Loan

A Government loan received for career development.

CDM

Cash & Deposit Machine

Cash machines that can be used to process pay-ins, bill payments and withdrawals.

CHG

Charge

Charge regarding a transaction.

CHAPS or CHP

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 organisation.

COR

Correction

Correction regarding a transaction error.

CRE

Credit payment

Credit added to your account.

CSH

Cash

Cash paid into your account.

CUI

Centralised Unpaid In (Unpaid Cheque)

Cheque that has failed to clear.

CWP

Cold Weather Payment

Government payment to qualifying households during periods of cold weather. See if you qualify: Benefits check-up.

D/D or DDR

Direct Debit

Regular payment of a fixed or variable amount to a third party or some savings accounts.

DIV

Dividend

Payment to your account from shares you hold.

DR

Account Overdrawn or Debit Item / Debit Balance

An indication on your statement to show that your balance is less than zero. If needed, see Debt Problems.

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 future – see Travel Credit Cards.

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. See Sending Money Abroad.

IBP

Inter-Branch Payment

Transfer between accounts at different bank branches.

IMO

International Money Order

Used to make payments abroad. See Sending Money 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. See Top Cash ISAs.

ITL

International

Transfer of money from your UK account to one 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 paid into your account.

S/O or STO

Standing Order

Regular payment of a fixed amount from your account to another account or a third party.

SBT

Screen Based Transaction

A transaction processed by a bank branch on your behalf.

TEL

Telephone Banking

A transaction carried out using telephone banking.

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.

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Unknown retailer on your statement?

There are organisations that may leave a mark on your bank, credit card or utility statement by using unique abbreviations that only apply to themselves or specific products or services. We've included some terms below that MSE users have specifically searched for in our forum.

This guide is meant to help identify hard-to-understand abbreviations. As such, any organisations included in the glossary below does not signify an endorsement from MoneySavingExpert.com.

Organisations that are difficult to recognise

Organisation

Abbreviation

What it stands for/does

Description

Adyen

Adyen UK LTD

Electronic payment processing company

Adyen processes payments on behalf of companies selling products and services via the internet.

Bet365

B365 Internet

Bet365

Gambling website.

Buchanan Clark and Wells

BCW

BCW debt collection company

Debt collection agency. If needed, see Debt Problems.

Cassava Enterprises or Virtual MaSerIRL

Cassava Enterprises or Virtual MaSerIRL

888.com / Wink Bingo

Gambling website.

Coral

Cl Ltd

Coral Interactive

Gambling website.

Vodafone

CFU

Call Forward Unconditional

Found on Vodafone statements. A charge relating to incoming calls that have been redirected to another number.

Domestic & General Services

DGS / RPP

Domestic & General Services / Regular Payment Plan Direct Debit

Warranty provider taking a direct debit from your account. See Free Warranties.

UK Government

EESA

Enhanced Employment Support Allowance

You can get EESA if your ability to work is limited by ill-health or disability. See if you qualify: Benefits check-up.

JPMorgan Bank and PayPal

JPMC

A payment to a PayPal account from your bank

PayPal uses JPMorgan (a large American bank) to process its transactions.

Vending Machines

NYA*

A card payment made at a vending machine

You'll usually see NYA* and then the name of the vending machine owner

Paddy Power

PP Phones

Paddy Power

Gambling website.

Payforit

Payforit

Brand allowing consumers to make payments via their phone on behalf of several mobile providers

Some MoneySavers have experienced issues with Payforit: see feedback thread.

Qmee

Qmee

Cashback provider

Third-party provider offering cashback for internet searches and signing up to online offers. See Make Money Online.

William Hill

WHO Internet

William Hill Online

Gambling website.

Still unsure of a transaction? Query it

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If you find a term on your bank statement or itemised bill that isn't listed above, it's important to check it. The best way is to contact your bank or utility provider directly via secure messaging on mobile or internet banking or over the phone.

Alternatively, you may wish to post or search the MSE Forum where fellow MoneySavers may be able to help.

MSE Forum

Bank statement abbreviations

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