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#12983 - 05/07/07 01:20 PM Deposit, Counter Credit, or Credit
LRicciardo Offline
New Poster

Registered: 05/07/07
Posts: 1
On my bank statement, deposits can read as Deposit, Counter Credit, or Credit. What's the difference?

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#12985 - 05/08/07 08:43 AM Re: Deposit, Counter Credit, or Credit [Re: LRicciardo]
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12643
Those sound like descriptions the bank uses to describe how funds were credited to your account. A "deposit" might be a standard deposit using a deposit ticket that's pre-printed with your account number. A "counter credit" might be a deposit made with a deposit ticket supplied in the bank's lobby, on which your account number was handwritten. And "credit" might be a credit via some other route, such as a manual transfer from another account, an ATM transaction, etc.

There's no prescribed set of transaction descriptors used by all financial institutions. If you want an accurate description of what those three descriptions mean at your institution, you'll have to contact them.

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