In a bank statement, "CR" signifies Credit, indicating funds deposited into your account. It represents an increase in your account balance.
Here's a breakdown:
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CR (Credit): This abbreviation shows that money has been added to your account. This could be from various sources, such as:
- Direct deposits from your employer
- Transfers from another account
- Interest earned on your account balance
- Cash or check deposits you made at the bank
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Opposite of DR (Debit): The opposite of CR is DR, which stands for Debit. DR indicates that money has been withdrawn or deducted from your account, resulting in a decrease in your account balance.
Therefore, whenever you see "CR" in your bank statement, you know that funds have been credited (added) to your account, increasing your available balance.
