Types of Banking Transactions

Hello,

I would like to clarify or define the types of transactions that are used on the bank statements that I receive. Here are the examples I have seen so far.
DD -
DC -
BP -
AP -

Thank you so much

Hi @JoeJohnnyG
These are codes for HOW the transaction was made:
DD = direct debit, generally you’ve signed a form with a merchant/supplier for a service and given them authority to request funds from your account. (that is the ONLY way a DD can be set up, with your permission)
DC = direct credit, this is someone paying directly into your account.
BP = Bill payment, this is a payment that you’ve made to someone;
AP = Automatic payment, this is a re-occurring payment that you’ve set up.

The ones where you’ve made the payment could have been set up online, or with a BNZ staff member (over the phone or in branch).

Hope this helps :slight_smile:

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