Funds, payments & transfers
Payment reference
Information included to identify or match a payment.
A payment reference is information included with a payment to help identify its purpose or match it to the correct account or transaction.
Approved short definition: Information included to identify or match a payment. Example: When making a payment, enter the reference requested in the payment instructions so it can be identified correctly. Do not use: Do not treat Payment reference and Transaction ID as interchangeable. Do not tell a customer to create their own reference when the payment instructions provide a specific value to enter. Aliases / search terms: Payment description; bank transfer reference; transfer reference; reference; reference number; payment note; bank reference Related terms: Transaction ID; Bank transfer; Deposit funds; Withdraw funds; Local currency account
Also known as: Payment description, bank transfer reference, transfer reference, reference, reference number, payment note, bank reference