Bank Statement Codes and Abbreviations Explained
Bank statements are full of codes, abbreviations and payment names that make no sense at first glance. A mysterious "SQ", a "BGC", a charge from a company you have never heard of. This guide is a plain-English index to what they all mean, so you can quickly tell a normal payment from something worth querying.
At a glance
- Two main types
- Transaction codes (DD, SO, BGC) and merchant names
- Merchant names
- Often the payment processor, not the shop
- If you don't recognise it
- Check here before assuming fraud
- Still unsure
- Contact your bank
Why bank statements use codes
There are two different things that confuse people on a statement:
- Transaction type codes, short abbreviations like DD or BGC that tell you how money moved.
- Payment or merchant names, where the name shown is often the payment processor (like SumUp or Zettle) rather than the actual shop, which is why a charge can look unfamiliar even when you made it.
Below is a quick index to the most common of each.
Transaction type codes
These tell you the type of payment. Tap any for the full explanation:
Payment and merchant names
When a charge shows a name you do not recognise, it is usually one of these payment processors or services:
- SumUp
- Zettle
- SQ (Square)
- PayPal
- Klarna
- Amazon
- Apple.com/bill
- Google temporary hold
- TFL Travel CH
- A charge you cannot place
When to worry, and when not to
Most unfamiliar entries turn out to be a payment processor, a subscription you forgot, or a delayed charge. A few genuine checks:
- A "pending" or "temporary hold" is usually a normal authorisation that settles or drops off. See pending and Google temporary hold.
- A processor name (SumUp, Zettle, Square) is a small business taking a card payment, the shop's own name may not show.
- If you genuinely cannot place it, that is when to act. Read what to do about a charge you do not recognise, and if you suspect fraud, how to report a scam.
Frequently asked questions
What does the code on my bank statement mean? It is either a transaction type (like DD or BGC) or a payment processor name (like SumUp). Use the index above to find the exact one.
Why is there a charge from a company I have never heard of? It is usually the payment processor the shop uses, not the shop itself. SumUp, Zettle and Square all work this way.
What should I do about a charge I do not recognise? Check it here first, look for a matching subscription or recent purchase, and if you still cannot place it, contact your bank.
Worried about a specific entry? Pick it from the index above, or read what is this charge on my bank statement for a step-by-step way to track it down.
