What are the three letter codes on my bank statement?

The three-letter codes on your bank statement typically represent transaction types or merchant categories. For example, "POS" indicates a point-of-sale transaction, while "ATM" denotes an automated teller machine withdrawal. These codes help you quickly identify the nature of each transaction for easier budgeting and record-keeping. If you're unsure about a specific code, you can often find its meaning on your bank's website or by contacting customer service.