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A complete guide to common bank statement abbreviations. Learn what codes like OD, POS, and ACH stand for when reconciling your account activity and categorizing transactions.
Here are what transaction codes from TD bank and Direct Investing mean. Often it is taxes or fees associated with an account activity.
Below are a codes that commonly occur on bank statements and a general description of their meaning. It’s important to note that the meaning of each may vary depending on the context and the recipient.
ACH transaction codes are two-digit numerical codes that identify the type of transaction being processed. Each code specifies whether the transaction is a debit or a credit to an account and indicates the account type involved—whether it’s a checking, savings, general ledger, or loan account. Purpose.
ACH transaction codes. Banks initiate entries into the ACH network by coding the transaction as a debit or credit to a merchant’s account. Other typical account types include consumer and loan accounts. The most frequently used codes are listed below.
BAI2 Transaction codes CODES DESCRIPTION Remarks Tran type 010 Opening Ledger Balance N/A 015 Closing Ledger Balance N/A 040 Opening Available Balance N/A 045 Closing Available Balance ... 147 Individual Bank Card Deposit US specific Credit 155 Pre-authorized Draft Credit US specific Credit
Ever seen BACS, DD or SO on your bank statements and wondered what it means? MoneySavingExperts glossary guide demystifies the bank jargon to help you understand.
A bank code is used to send and receive payments for deposits using financial institution systems and networks. Types of bank codes used vary for some transaction types and domestic vs international payments transactions. Our explainer includes a bank code list of the types of U.S. and international bank codes used.
Quite simply, a bank code is the numerical code assigned to a specific bank in order to identify it during financial transactions such as bank transfers. The codes are national, and are generally assigned by a country’s central bank, or banking body.
Find, calculate, and check bank codes including SWIFT, IBAN, and routing number.