What does so mean in bank statement?

What does so mean in bank statement?

S/O or STO. Standing Order.

What does co ID mean on bank statement?

Bank statements can be difficult to understand. In this post, we will focus on a specific abbreviation, INDN, that you may see on your bank statement. The abbreviation INDN on a bank statement refers to the “Receiving Individual Name” in an ACH transaction. All ACH payments have an originator and a receiver.

What BC means in chat?

Because. Bc is a popular abbreviation of “because” that is used in text messages and on the web. It is typically seen when a person is explaining something and they have limited time and/or character space.

What does advice mean on a bank statement?

It means that you are expected to have received a separate piece of communication (“advice”) which confirms who the payment came from. This is common with CHAPS payments and overseas transactions.

What is the cash you put in an account called?

Cash Deposits It’s called a cash deposit if you take cash to a bank teller or ATM and ask them to add it to your checking or savings account.

What does BC stand for in WhatsApp?

“Before Christ (see also AD, CE, BCE)” is the most common definition for BC on Snapchat, WhatsApp, Facebook, Twitter, Instagram, and TikTok.

Does a bank statement show who exactly cashed a check or just the bank?

A cashed check will show as a withdrawl. On the bank statement of the person who wrote the check, always. On the bank statement of the person who “cashed” the check, possibly (if the bank accounted for it as a deposit plus a cash withdrawal).

What is the difference between cash account and bank account?

In bank account, We record all bank related transactions like , goods purchased or sold expenses paid or income received through cheque or bank draft. in cash account, we record only cash transactions like cash sales , cash purchases, income received through cash, expenses paid in cash.