101 Bank Statement Abbreviations & Other Bank Related Jargon - DocuClipper (2024)

ABCPAsset-Backed Commercial PaperShort-term investment securities backed by collateralABSAsset-Backed SecuritiesSecurities backed by financial assets like loans, leases, or receivablesACAmortised CosMethod of accounting for financial assets based on amortized costACHAutomated Clearing HouseElectronic network for financial transactions in the U.S.AFSAvailable for SaleFinancial assets designated as available for sale by the holderAIRBAdvanced Internal Ratings BasedAn approach used by banks to determine credit risk for regulatory capitalALCoAsset and Liability Management CommitteeGroup responsible for coordinating the management of assets and liabilitiesAMEXAmerican ExpressFinancial services corporation specializing in payment card servicesAPRAnnual Percentage RateThe interest rate for a whole year rather than just a monthly fee/rateARAAnnual Report and AccountsComprehensive report on a company’s activities throughout the preceding yearAT1Additional Tier 1Core capital in a bank’s capital structureATBAdjusted Trial BalanceTrial balance after adjustments are madeATMAutomated Teller MachineA machine that provides banking transactions without a tellerATM RFDATM refundsRefunds processed through an ATMBACSBankers’ Automated Clearing ServicesSystem for financial transactions in the UKBBKBeneficiary BankBank receiving funds in a transactionBBP or BPBill PaymentPayment made to settle a billBGCBank Giro CreditMethod of transferring money by instructing a bank to directly transfer fundsBICBank Identifier CodeCode that identifies banks internationallyBNFBeneficiary Name FieldField in a transaction indicating the beneficiary’s nameBPOABeginning Period of AvailabilityIdentifies the first year of availability under law that the appropriation may incur new obligationsBSPBranch Single PaymentSingle payment made through a bank branchCAFECentral Accounting Front EndSystem for managing accounting processes centrallyCATCharges, easy Access, fair TermsFinancial product features ensuring fairness and accessibilityCCCCurrency conversion chargeFee for converting currency in transactionsCDLCareer Development LoanLoan to fund vocational education and trainingCDMCash & Deposit MachineMachine for depositing cash and checksCFRCode of Federal RegulationsCodification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal GovernmentCHAPS or CHPClearing House Automated Payment SystemSame-day automated payment system for high-value transactions in the UKCHGChargeFee applied to an account for various servicesCHQChequeDocument that orders a bank to pay a specific amount from a person’s accountCIRCollections Information RepositoryDatabase for managing collection informationC‐KeyClassification KeyKey used for classifying transactionsCOCO Certifying OfficerOfficer responsible for certifying financial transactionsCORCorrectionAdjustments made to correct an error in an accountCRCreditEntry recording an amount receivedCRECredit paymentPayment made to an account, increasing its balanceCSHCashPhysical currency used in transactionsCUICentralised Unpaid In (Unpaid Cheque)Central system for managing unpaid checksCWPCold Weather PaymentFinancial aid is given in extremely cold weather conditionsD/D or DDRDirect DebitInstruction to a bank to collect varying amounts from an accountDANDeposit Account NumberUnique number identifying a deposit accountDIVDividendDistribution of a portion of a company’s earnings to shareholdersDNPDo Not PayInstruction or alert not to process a paymentDRAccount Overdrawn or Debit Item / Debit BalanceIndicates an overdrawn account or a debit transactionDUNSData Universal Numbering SystemSystem that assigns a unique numeric identifier to a single business entityDWPDepartment of Work and PensionsUK government department responsible for welfare and pension policyECPElectronic Check ProcessingProcess of converting a paper check into an electronic transactionEFTElectronic Funds TransferTransfer of money from one bank account to another electronicallyEPOAEnding Period of AvailabilityIdentifies the last year of availability under law that the appropriation may incur new obligationsERTFExchange Rate Transaction FeeFee associated with converting currency in a transactionESFExchange Stabilization FundFund used to stabilize exchange ratesFPI or FPFaster Payments InwardsIncoming fast electronic payments in the UKFPOFaster Payments OutwardsOutgoing fast electronic payments in the UKFRBFederal Reserve BankCentral bank of the United StatesIATInternational ACH TransactionsInternational automated clearing house transactionsIBANInternational Bank Account NumberInternational standard for identifying bank accountsIBPInter-Branch PaymentPayment made between branches of the same bankIDDInternational Direct DepositDirect deposit service for international paymentsIMFInternational Monetary FundInternational organization working to foster global monetary cooperationIMOInternational Money OrderPayment order for a pre-specified amount of moneyINTInterestPayment from a bank or credit union to a depositor of interest on their depositIPPInternet Payment PlatformPlatform for managing internet-based paymentsISAIndividual Savings AccountTax-free savings account in the UKITLInternationalTransactions or activities involving multiple countriesMAINMain Account CodeIdentifies the type and purpose of the fundMTSMonthly Treasury StatementMonthly statement summarizing the financial activities of the federal governmentNDCNon Dividend CounterfoilDocument proving ownership of shares without dividendsNO WI BONNo Withdrawal BonusReward for not withdrawing funds from an accountN-S TRN FEENon Sterling Transaction FeeCharge for transactions in currencies other than SterlingODOverdrawn BalanceBalance indicating that an account is overdrawnOD/SOverdrawn Sub TotalSubtotal amount by which an account is overdrawnOTROnline Banking TransactionTransaction conducted through online bankingPIIPersonally identifiable informationInformation that can be used to identify an individualPIRPayment Information RepositoryDatabase for storing payment informationPOCPost Office CountersServices provided by a post office, including financial transactionsPOSPoint Of Sale / Debit Card TransactionTransaction made at a retail location or with a debit cardREVReversalTransaction that reverses a previous transactionRTNRouting Transit NumberNumber identifying a financial institution in a transactionSSub-TotalIntermediate total of amounts or itemsS/lineStatement LineLine item in a bank statementS/O, SO or STOStanding OrderInstruction to a bank to pay a set amount at regular intervalsSALSalaryPayment received as wages or salarySAMShared Accounting ModuleSystem for managing shared accounting processesSBTScreen Based TransactionTransaction conducted through a digital interfaceSODStatement Of DifferencesDocument detailing discrepancies in accounting recordsSPRStandard Payment RequestRequest for a standard paymentSPSSecure Payment SystemSystem for secure financial transactionsSSNSocial Security NumberUnique number assigned to U.S. citizens for tracking social securitySubSub Account CodeIdentifies an available receipt or other Treasury ‐ defined subdivision of the accountSWIFTSociety for Worldwide Interbank Financial TelecommunicationNetwork enabling financial institutions worldwide to send and receive information about financial transactionsTELTelephone BankingBanking services conducted over the telephoneTFRTransferMovement of funds from one account to anotherTINTaxpayer Identification NumberNumber used to identify taxpayers in the U.S.TLRTeller TransactionTransaction conducted with a bank tellerTRACSTreasury Receivable, Accounting & Collection SystemSystem for managing treasury receivables and collectionsTRFTransferMovement of funds from one place to anotherTSUTelephone BankingBanking services conducted over the telephoneUNPUnpaidTransaction or cheque that has not been paidVRATEVisa Payment Scheme Exchange RateThe exchange rate used by Visa for international transactionsXMLExtensible Markup LanguageMarkup language for encoding documents in a format that is both human-readable and machine-readable