BP on a bank statement typically means Bill Payment.
Understanding "BP" on Your Bank Statement
When reviewing your bank statement, you might encounter the abbreviation "BP." This signifies that a bill payment has been processed from your account.
Bill Payment (BP) Explained
- Definition: BP stands for Bill Payment. It indicates that you have made a payment towards a bill using your bank account.
BP/SO: Bill Payment and Standing Order
You might sometimes see "BP/SO" on your statement. According to the reference, BP/SO stands for bill payment and standing order, meaning you have paid a bill by standing order.
Examples of Bill Payments
Here are some common examples of transactions that might appear as "BP" on your bank statement:
- Paying your utility bills (electricity, gas, water).
- Making a credit card payment.
- Paying for a subscription service.
- Paying for internet or phone service.
