Posted 3rd May 2018
Hi everyone...

So I've finally decided so sort my finances out and am in the middle of cancelling some direct debits. Does anyone know if there is a list online of abbreviations to show what I'm actually paying towards?
I've found a couple such as SLMLTD INCOME and DGS/RPP but don't have a clue what they are for.
And yes I know, it's silly but any help would be much appreciated. Cheers.
Community Updates
dab-kid
Direct Debit Abbreviations on Your Bank Statement
When you’re checking over your direct debits on your bank statement you may find some abbreviations which don’t sound so familiar. Since many companies may not appear by the name by which you know them on your bank statement, it can be confusing and difficult to figure out who they are.

If you are concerned about any name or abbreviation on your statement and you cannot find out who the company is by searching online then it is perhaps the best idea to contact your bank through your safe and secure online banking.

You should always check your bank statements to ensure that no fraudulent payments have been taken out of your account without your knowledge.


52194-SGCCC.jpg
What does "SLM Ltd Income AC" mean?
If you have found the direct debit abbreviation of SLM Ltd Income AC on a bank statement, and you are wondering what or who exactly is SLM Ltd Income AC direct debit?

The abbreviation SLMLtd Income AC relates to Everyone Health or Everyone Active which are both divisions of the company.

The company aims to improve the health of communities through a holistic approach; it also owns gyms, leisure centres and swimming pools.

So perhaps you have signed up for a gym and have a direct debit to pay for your membership each month, this could be the reason behind seeing SLM Ltd on the bank statement.


What is DGS/RPP?
Another abbreviation alongside SLM Ltd income on bank statements that may cause confusion is DGS/RPP. This refers to Domestic & General Services/ Regular Payment Plan.

SLM Ltd provides aftercare such as maintenance and support for domestic appliances such as boilers, TVs and washing machines. Customers can choose to insure their home appliances by signing up to their ‘Get Protected’ scheme which entails a monthly direct debit in exchange for easy access to engineers.

If you have DGS/RPP on your bank statement, it means that you have given the company permission to take a direct debit from your account.


How to find out what a direct debit abbreviation means
When it comes to abbreviations for direct debits there’s so many it can be difficult to remember what they all are.

For example, CRE is a Credit Payment, DDR is a Direct Debit and DR is a debit balance to name just a few.

If you need help understanding your bank statement then you can check your bank’s official website as they are likely to have a guide to abbreviations on bank statements and their meaning.

Another way is to contact your bank directly to enquire about a certain payment.
Ask
Discussions
6 Comments
Post a comment