Bank statement codes and abbreviations explained
Updated 2026-08-19
Statement descriptions are compressed to fit a narrow column, which is how a rent payment becomes SO LANDLORD REF 4471. The codes are consistent within each market, and knowing them makes categorising a converted statement far faster.
UK codes
British statements lean heavily on two and three letter codes:
- DD — direct debit, where the recipient pulls the payment
- SO — standing order, a fixed payment you instructed
- BGC — bank giro credit, typically a salary or benefit payment in
- FPI and FPO — faster payment in and out
- CHQ — cheque, BAC — BACS transfer, TFR — internal transfer
- ATM or CSH — cash withdrawal
US codes
American statements use fuller words but still abbreviate:
- ACH — automated clearing house transfer, both debits and credits
- POS — point of sale card purchase
- EFT — electronic funds transfer
- DEP — deposit, WD — withdrawal
- NSF — non-sufficient funds, the fee for a rejected payment
- RDC — remote deposit capture, a cheque deposited by photo
Australian and Canadian codes
Australian statements commonly show EFTPOS for card purchases, DE for direct entry and BPAY for bill payments. Canadian statements use MISC PAYMENT for pre-authorised debits and INTERAC for e-transfers and card purchases.
Why the codes are worth keeping
A converted statement preserves the full description including the code. Filtering on DD or ACH separates committed recurring payments from discretionary spend in one step, which is exactly what an affordability review or a subscription audit needs.