Most UK bank statements squeeze each transaction into a single line, so the banks shorten the kind of payment to two or three letters. The codes are not the same at every bank, but a small set covers nearly every line you will see.
The codes
| Code | What it means | Money |
|---|---|---|
DD |
Direct Debit: a company collects a payment under a mandate you signed. | Out |
SO |
Standing order: a fixed payment you set up to leave on a schedule. | Out |
BGC |
Bank Giro Credit: money paid in, often a salary or a benefit. | In |
FPI |
Faster Payment in: a bank transfer that arrived. | In |
FPO |
Faster Payment out: a bank transfer you sent. | Out |
DEB |
A debit card payment. | Out |
CPT |
Cash taken from a cashpoint. | Out |
TFR |
A transfer between accounts. | Either |
CHG |
A charge from the bank. | Out |
CHQ |
A cheque. | Either |
VIS |
A Visa debit card payment. | Out |
))) |
A contactless card payment. | Out |
BP |
A bill payment you made to a payee. | Out |
CR / DR |
Credit and debit: money in, money out. | In / Out |
Where the code ends up in your spreadsheet
That depends on where your bank prints it. Lloyds gives the code its own Type column, so the spreadsheet keeps it as a column of its own, and you can filter on it:
| Date | Description | Type | Money In (£) | Money Out (£) | Balance (£) | Ledger |
|---|---|---|---|---|---|---|
| 02 Jan 24 | CAFE | DEB | 4.20 | 815.80 | ok | |
| 02 Jan 24 | EMPLOYER LTD | BGC | 1,850.00 | 2,665.80 | ok | |
| 03 Jan 24 | LANDLORD | FPO | 900.00 | 1,765.80 | ok | |
| 05 Jan 24 | WATER CO | DD | 38.50 | 1,727.30 | ok |
HSBC prints the code at the start of the details instead, under one heading,
Payment type and details. There the code stays at the start of the
description cell, for example ))) CORNER SHOP.
The rows above are an example, not a real statement.
A code you do not recognise
- Look for a key on the last page of the statement. Most banks print one.
- Search your bank's help pages for the code.
- If a payment you do not recognise leaves your account, call your bank.