What Does DDA Mean on a Bank Statement?
DDA stands for Demand Deposit Account.
What DDA means
A demand deposit account is one you can withdraw money from at any time without giving the bank advance notice. In practice, DDA almost always means a checking account. Banks use the abbreviation internally, and it sometimes shows up on statements.
How DDA appears on a bank statement
DDA usually appears as part of a transaction label. Illustrative examples:
DDA DEBIT ACME HARDWARE
DDA TO DDA TRANSFER- DDA DEBIT generally means money came out of your checking account, often through a card purchase or electronic payment.
- DDA CREDIT generally means money went in.
- DDA TO DDA TRANSFER usually means money moved between two checking accounts, often at the same bank. That could be between your own accounts, or to or from someone else’s.
How banks use these labels varies. Your statement’s legend or your bank can tell you exactly what each one means.
What to do if you don’t recognize a DDA transaction
- Check whether you moved money between your own accounts or set up an automatic transfer, such as overdraft protection.
- Look at the other account involved, if the line shows one.
- If you still can’t explain it, contact your bank. The DDA label only tells you the type of account involved, not who started the transaction.