Bank statement abbreviations: what do they mean? MoneySavingExpert

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  1. MoneySavingExpert.com
  2. Banking
  3. Bank statement abbreviations

Bank statement abbreviations

what do they mean?

Karl Talbot

Karl Talbot
Updated 1 September 2016

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Know your APRs from your BACS? There can be 100s of gibberish terms found on bank and credit card statements and utility bills.

This is a full rundown, including table breakdowns of popular gobbledygook, and how to query terms on itemised bills and bank statements if they remain unclear.

In this guide…

  • The jargon explained
  • Organisation-specific jargon
  • Query unidentified terms

  • Why check?
        Make budgeting easier
        Identify fraudulent transactions

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The jargon explained

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

Quick question

  • Are acronyms on bills and bank statements the same across the board?

    Unfortunately not. As there’s no set standard for statement abbreviations, 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 CHAPS, while on a NatWest statement it’ll be known simply as CHP.

    However, most terms generally follow similar acronyms, so distinguishing between them shouldn’t be too difficult.

Bank statement abbreviations found on bank, credit card or utility statements

ABBREVIATIONWHAT IT STANDS FORDESCRIPTION
APRAnnual Percentage RateA rate of interest payable over a year.  See APR examples .
BBP or BPBill PaymentPayment of a bill
BAC or BACSBankers’ Automated Clearing ServicesAn electronic system to make payments directly from one account to another. Can take up to 3 working days to clear.
BGCBank Giro CreditThe deposit of cash or a cheque in a bank branch
BSPBranch Single PaymentBill or third-party payment made within a branch
CDLCareer Development LoanA Government loan received for career development. See  Career Development Loans .
CDMCash & Deposit MachineCash machines which can be used to process pay-ins, bill payments and withdrawals
CHGChargeCharge regarding a transaction
CHP or CHAPSClearing House Automated Payment SystemElectronic transfer for large payments between accounts sent and received on the same day
CHQChequeDocument that orders payment of money from a bank account to another person or organisation
CORCorrectionCorrection regarding a transaction error
CRECredit paymentCredit which has been added to your account
CSHCashCash which has been paid into your account
CUICentralised Unpaid In (Unpaid Cheque)Cheque that has failed to clear
CWPCold Weather PaymentGovernment payment to qualifying households during periods of cold weather. See if you qualify.  Benefits check-up .
D/D or DDRDirect DebitA regular payment of a fixed or variable amount to a third party or some savings accounts
DIVDividendA payment to your account from shares you hold
DRAccount Overdrawn or Debit Item / Debit balanceAn indication on your statement to show that your balance is less than zero. If needed, see  Debt Problems .
DWPDepartment for Work and PensionsDeposit into your account by the Department for Work and Pensions
ERTFExchange Rate Transaction FeeFee 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 FPFaster Payments InwardsA ‘faster’ payment – made using the ‘Faster Payments’ electronic system – received from another account
FPOFaster Payments OutwardsA ‘faster’ payment – made using the ‘Faster Payments’ electronic system – sent to another account
IBANInternational Bank Account NumberUsually required for international money transfers when making a payment between international bank accounts. See  Sending Money Abroad .
IBPInter-Branch PaymentTransfer of money between accounts at different bank branches
IMOInternational Money OrderUsed to make payments abroad. See  Sending Money Abroad .
INTInterestCredit or debit on your account associated to interest earned or incurred on your balance
ISAIndividual Savings AccountA tax-free savings account. See  Top Cash ISAs .
ITLInternationalTransfer of money from your UK account to an account abroad
NDCNon Dividend CounterfoilA payment to your account from shares held by you
OTROnline Banking TransactionTransaction carried out using online banking
POCPost Office CountersTransaction carried out over a post office counter
POSPoint Of Sale/Debit Card TransactionA purchase made with your debit card, eg, at a retailer
REVReversalA standing order or direct debit that has been returned
SALSalarySalary payment paid into bank account
S/O or STOStanding OrderA regular payment of a fixed amount from your account to another account or a third party
SBTScreen Based TransactionA transaction processed by a bank branch on your behalf
TELTelephone BankingA transaction carried out using telephone banking
TFRTransferTransfer of money between accounts
TLRTeller TransactionA transaction carried out using a bank branch
UNPUnpaidA cheque credited to your account that was not paid in at your account-holding branch or bank

Organisation-specific jargon

There are organisations that may leave a mark on your bank, credit card or utility statement by using unique acronyms that only apply to themselves or specific products or services. Based on our forum search traffic, we’ve included a few terms below.

ORGANISATIONABBREVIATIONWHAT IT STANDS FORDESCRIPTION
AdyenAdyen UK LTDElectronic payment processing companyAdyen processes payments on behalf of companies selling products and services via the internet
Bet365B365 InternetBet365Online gambling website
Buchanan Clark and WellsBCWBCW debt collection companyDebt collection agency. If needed, see  Debt Problems .
Cassava Enterprises or Virtual MaSerIRL.Cassava Enterprises or Virtual MaSerIRL888.com / Wink BingoOnline gambling website
CoralCl LtdCoral InteractiveOnline gambling website
VodafoneCFUCall Forward UnconditionalFound on Vodafone statements. A charge relating to incoming calls that have been redirected to another number.
Domestic & General ServicesDGS/RPPDomestic & General Services / Regular Payment Plan Direct DebitWarranty provider taking a direct debit from your account. See  Free Warranties .
UK GovernmentEESAEnhanced Employment Support AllowanceYou 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 PayPalJPMCA payment to a PayPal account from your bankPayPal use JPMorgan (a large American bank) to process PayPal transactions
Paddy PowerPP PhonesPaddy PowerOnline gambling website
PayforitPayforitBrand allowing consumers to make payments via their phone on behalf of several mobile providersSome MoneySavers have experienced issues with Payforit: see  Feedback thread .
QmeeQmeeCashback providerThird-party provider offering cashback for internet searches and signing up to online offers. See  Make money online .
Scarlet Marketing ServicesSMS LegalPayment Protection Insurance (PPI) reclaiming companyCold-calling PPI-reclaiming company charging up to 30% of reclaimed funds. See how to  Reclaim PPI for free .
William HillWHO InternetWilliam Hill OnlineOnline gambling website

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

Always query unidentified terms

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 internet banking or over the telephone.

If choosing the latter, ensure you don’t pay through the nose by using premium-rate phone numbers. See our  Say No To 0870  guide.

Alternatively, you may wish to post or search our  forums
where fellow MoneySavers may be able to help.

Why check?

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

Money bag icon

Make budgeting easier

With contactless spending on the rise and online statements becoming the norm, keeping track of your finances should be easier than spending simply with cash. That said, getting on top of a budget is a challenging task for many and if you can’t identify statement acronyms, it’s nigh impossible.

Unclear jargon can cause issues with budget planning – a headache if on the verge of going overdrawn, for example.

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. However, it’s important to check yourself, as unauthorised transactions not identified may never be refunded. See  ID Fraud Protection.

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Bank Statement Abbreviations

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  1. MoneySavingExpert.com
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  3. Bank statement abbreviations

Bank statement abbreviations

what do they mean?

Karl Talbot

Karl Talbot
Updated 1 September 2016

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Know your APRs from your BACS? There can be 100s of gibberish terms found on bank and credit card statements and utility bills.

This is a full rundown, including table breakdowns of popular gobbledygook, and how to query terms on itemised bills and bank statements if they remain unclear.

In this guide…

  • The jargon explained
  • Organisation-specific jargon
  • Query unidentified terms

  • Why check?
        Make budgeting easier
        Identify fraudulent transactions

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The jargon explained

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

Quick question

  • Are acronyms on bills and bank statements the same across the board?

    Unfortunately not. As there’s no set standard for statement abbreviations, 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 CHAPS, while on a NatWest statement it’ll be known simply as CHP.

    However, most terms generally follow similar acronyms, so distinguishing between them shouldn’t be too difficult.

Bank statement abbreviations found on bank, credit card or utility statements

ABBREVIATIONWHAT IT STANDS FORDESCRIPTION
APRAnnual Percentage RateA rate of interest payable over a year.  See APR examples .
BBP or BPBill PaymentPayment of a bill
BAC or BACSBankers’ Automated Clearing ServicesAn electronic system to make payments directly from one account to another. Can take up to 3 working days to clear.
BGCBank Giro CreditThe deposit of cash or a cheque in a bank branch
BSPBranch Single PaymentBill or third-party payment made within a branch
CDLCareer Development LoanA Government loan received for career development. See  Career Development Loans .
CDMCash & Deposit MachineCash machines which can be used to process pay-ins, bill payments and withdrawals
CHGChargeCharge regarding a transaction
CHP or CHAPSClearing House Automated Payment SystemElectronic transfer for large payments between accounts sent and received on the same day
CHQChequeDocument that orders payment of money from a bank account to another person or organisation
CORCorrectionCorrection regarding a transaction error
CRECredit paymentCredit which has been added to your account
CSHCashCash which has been paid into your account
CUICentralised Unpaid In (Unpaid Cheque)Cheque that has failed to clear
CWPCold Weather PaymentGovernment payment to qualifying households during periods of cold weather. See if you qualify.  Benefits check-up .
D/D or DDRDirect DebitA regular payment of a fixed or variable amount to a third party or some savings accounts
DIVDividendA payment to your account from shares you hold
DRAccount Overdrawn or Debit Item / Debit balanceAn indication on your statement to show that your balance is less than zero. If needed, see  Debt Problems .
DWPDepartment for Work and PensionsDeposit into your account by the Department for Work and Pensions
ERTFExchange Rate Transaction FeeFee 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 FPFaster Payments InwardsA ‘faster’ payment – made using the ‘Faster Payments’ electronic system – received from another account
FPOFaster Payments OutwardsA ‘faster’ payment – made using the ‘Faster Payments’ electronic system – sent to another account
IBANInternational Bank Account NumberUsually required for international money transfers when making a payment between international bank accounts. See  Sending Money Abroad .
IBPInter-Branch PaymentTransfer of money between accounts at different bank branches
IMOInternational Money OrderUsed to make payments abroad. See  Sending Money Abroad .
INTInterestCredit or debit on your account associated to interest earned or incurred on your balance
ISAIndividual Savings AccountA tax-free savings account. See  Top Cash ISAs .
ITLInternationalTransfer of money from your UK account to an account abroad
NDCNon Dividend CounterfoilA payment to your account from shares held by you
OTROnline Banking TransactionTransaction carried out using online banking
POCPost Office CountersTransaction carried out over a post office counter
POSPoint Of Sale/Debit Card TransactionA purchase made with your debit card, eg, at a retailer
REVReversalA standing order or direct debit that has been returned
SALSalarySalary payment paid into bank account
S/O or STOStanding OrderA regular payment of a fixed amount from your account to another account or a third party
SBTScreen Based TransactionA transaction processed by a bank branch on your behalf
TELTelephone BankingA transaction carried out using telephone banking
TFRTransferTransfer of money between accounts
TLRTeller TransactionA transaction carried out using a bank branch
UNPUnpaidA cheque credited to your account that was not paid in at your account-holding branch or bank

Organisation-specific jargon

There are organisations that may leave a mark on your bank, credit card or utility statement by using unique acronyms that only apply to themselves or specific products or services. Based on our forum search traffic, we’ve included a few terms below.

ORGANISATIONABBREVIATIONWHAT IT STANDS FORDESCRIPTION
AdyenAdyen UK LTDElectronic payment processing companyAdyen processes payments on behalf of companies selling products and services via the internet
Bet365B365 InternetBet365Online gambling website
Buchanan Clark and WellsBCWBCW debt collection companyDebt collection agency. If needed, see  Debt Problems .
Cassava Enterprises or Virtual MaSerIRL.Cassava Enterprises or Virtual MaSerIRL888.com / Wink BingoOnline gambling website
CoralCl LtdCoral InteractiveOnline gambling website
VodafoneCFUCall Forward UnconditionalFound on Vodafone statements. A charge relating to incoming calls that have been redirected to another number.
Domestic & General ServicesDGS/RPPDomestic & General Services / Regular Payment Plan Direct DebitWarranty provider taking a direct debit from your account. See  Free Warranties .
UK GovernmentEESAEnhanced Employment Support AllowanceYou 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 PayPalJPMCA payment to a PayPal account from your bankPayPal use JPMorgan (a large American bank) to process PayPal transactions
Paddy PowerPP PhonesPaddy PowerOnline gambling website
PayforitPayforitBrand allowing consumers to make payments via their phone on behalf of several mobile providersSome MoneySavers have experienced issues with Payforit: see  Feedback thread .
QmeeQmeeCashback providerThird-party provider offering cashback for internet searches and signing up to online offers. See  Make money online .
Scarlet Marketing ServicesSMS LegalPayment Protection Insurance (PPI) reclaiming companyCold-calling PPI-reclaiming company charging up to 30% of reclaimed funds. See how to  Reclaim PPI for free .
William HillWHO InternetWilliam Hill OnlineOnline gambling website

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

Always query unidentified terms

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 internet banking or over the telephone.

If choosing the latter, ensure you don’t pay through the nose by using premium-rate phone numbers. See our  Say No To 0870  guide.

Alternatively, you may wish to post or search our  forums
where fellow MoneySavers may be able to help.

Why check?

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

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Make budgeting easier

With contactless spending on the rise and online statements becoming the norm, keeping track of your finances should be easier than spending simply with cash. That said, getting on top of a budget is a challenging task for many and if you can’t identify statement acronyms, it’s nigh impossible.

Unclear jargon can cause issues with budget planning – a headache if on the verge of going overdrawn, for example.

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. However, it’s important to check yourself, as unauthorised transactions not identified may never be refunded. See  ID Fraud Protection.

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