Transaction Descriptor

A transaction descriptor is the text shown on a bank statement to identify a payment or deposit. It usually includes the merchant name or a short description of the transaction.

Descriptors can be abbreviated or truncated based on bank systems. They help account holders match transactions during reconciliation or dispute reviews.

Related Terms

Bank Statement

A bank statement is a document issued by a financial institution that summarizes all transactions in...

Reference Number

A reference number is a unique identifier assigned to a transaction. It helps banks and customers tr...

Reconciliation

Reconciliation is the process of comparing two sets of records to ensure they match - typically comp...

Debit

In banking, a debit is a transaction that decreases the balance in your account. On your bank statem...

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