On the receipts side of our company's bank statements, other companies' BACS payments to us are labelled BGC while bankings by our branches are labelled REM. The BACS usually a number of PDQ payments which are the day's credit card payments for each of our branches. Does anyone have any idea what all these abbreviations stand for in this context?

TabbyTom

BGC, I think, is "bank giro credit." Feb 05 06, 7:26 PM

peasypod

For PDQ, 'pretty darn quick' and 'process data quickly' come to mind when it comes to credit card machinery. ;) http://www.answers.com/topic/pdq Feb 05 06, 7:37 PM

peasypod

BACS - Banks automated clearing system. Feb 05 06, 7:41 PM

gmackematix

So far so good. Yays to TT and peasy. Now I admit I also have no clue what the REM means here. Feb 06 06, 1:30 AM

lanfranco

Could it stand for "remit" or "remittance"? Feb 06 06, 12:39 PM

gmackematix

D'oh! Yes, Frankie, of course it is! Feb 06 06, 12:55 PM

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