Understanding Your Bank Statement Codes
Confused by cryptic codes on your bank statement? Learn how to decode common transaction descriptors and identify where your money is going.
Why Are Bank Statement Codes So Confusing?
Bank statement descriptors are often abbreviated or coded versions of merchant names. This is because payment processors have a limited number of characters to identify a transaction. The result is cryptic codes like AMZN MKTP US, PAYPAL *INST, or TST* TOAST that can be difficult to recognize.
Common Descriptor Patterns
Many descriptors follow recognizable patterns. Codes starting with SQ* typically come from Square point-of-sale systems. TST* indicates Toast POS transactions. SP* or SP * usually means a Shopify store. Understanding these patterns can help you quickly identify unfamiliar charges.
How to Look Up a Transaction Code
If you see an unfamiliar code on your statement, start by searching for the exact descriptor text online. Tools like Refunder.ai can help you identify the merchant behind a charge. You can also check your email for receipts or order confirmations that match the transaction date and amount.
What to Do If You Cannot Identify a Charge
If you cannot identify a charge after researching the descriptor, contact your bank. They can provide additional transaction details such as the merchant category code and the full merchant name. If the charge turns out to be unauthorized, you can file a dispute.