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What does "GP" mean on statement?

  • 28-09-2016 3:55pm
    #1
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭


    Hoping someone here can shed a bit of light on this. I have a standing order that I pay from my PTSB account to my BOI account every month. It shows on the statement as "(my reference) GP " whereas it used to show as "(my reference) SO "

    Can anyone tell me what the GP stands for?


Comments

  • #2
    Konata
    Closed Accounts Posts: 6,164 ✭✭✭Konata


    I'm not sure what it stands for but it indicates a transfer from one bank to another under SEPA. Banks have been moving their processes etc. to accommodate SEPA (all the IBAN and BIC stuff for example) over the last few years so it's probably just an updated reference. Doesn't mean anything different for your standing order.


  • #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    Thanks a million!!


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