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What does DD mean on a bank statement?

Direct Debit


What does COR as a debit mean on Lloyds Bank statement?

Correction


What does mdc mean on a bank statement'?

miscellaneous debit & credit


What is a bank initiated debit?

A bank-initiated debit is a transaction where a bank withdraws funds directly from a customer's account, typically to settle payments such as loan installments, fees, or monthly bills. This process often occurs through automated systems, ensuring timely payments without requiring direct action from the account holder. It can also include arrangements like direct debits, where customers authorize businesses to automatically deduct specified amounts for recurring charges.


What does DR payment type mean on hsbc statement?

debit you own the bank


Can you explain what a debit card transfer to your bank account is?

A debit card transfer to your bank account is when you move money from your debit card to your bank account. This allows you to access the funds in your bank account using your debit card.


Is cash in bank debit or credit?

Debit


What does debit memo mean on a bank statement?

A Debit Memo refers to any transaction wherein the bank's account balance is reduced. This memo is applied on bank fees such as interest, loan payments, bounced checks, and transfer of funds.


Why bank changed your card from visa debit to master card debit?

bank of america


Is cash in the bank debit or credit?

Cash you have deposited into a bank is credit Money to be paid back later is debit


When do we debit bank account?

We debit our bank account every time with withdraw (take out) money from our bank account.


What exactly does a debit mean?

A "debit" is an accounting entry which results in either an increase in assets or a decrease in liabilities in your bank account. It is most commonly used in the term "debit card" which is a card used to make debit (entries).