Some common banking abbreviations

Some common banking abbreviations include:


ACH: Automated Clearing House

ATM: Automated Teller Machine

CD: Certificate of Deposit

FDIC: Federal Deposit Insurance Corporation

IRA: Individual Retirement Account

loans: Lines Of Credit

SWIFT: Society for Worldwide Interbank Financial Telecommunication

VISA: Visa Inc. (VISA Network)

FPO: Fixed Price Offer

APR: Annual Percentage Rate

BAL: Balance

BACS: Bankers Automated Clearing Services

BIC: Bank Identifier Code

EFT: Electronic Funds Transfer

IBAN: International Bank Account Number

MCA: Merchant Cash Advance

NFC: Near Field Communication

NSF: Non-Sufficient Funds

T&C: Terms and Conditions

AML: Anti-Money Laundering

B2B: Business-to-Business

B2C: Business-to-Consumer

BOL: Bank Operations Letter

CIF: Customer Information File

COF: Cash-on-File

DDA: Demand Deposit Account

EMI: Equated Monthly Installment

FTP: File Transfer Protocol

GL: General Ledger

FTT: Foreign Telegraphic Transfer

Credit: Deposit

Debit: Withdrwals


Keep in mind, these are just a few examples, and the world of banking and finance is constantly changing, so new abbreviations and acronyms are continually being introduced.

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