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ACH Debit customer bank statement references

The customer's bank statement will show descriptive narration for payments collected through LotusPay.

When a customer pays a merchant through LotusPay, the customer's bank statement will contain some descriptive text to explain the nature of the NACH Debit transaction. This is known as the 'narration'.

Destination banks (i.e. the customers' banks) are required by NPCI to display the following in the customer's bank statement:

Creditor's name (20 characters, alpha-numeric) e.g. VEDA SERVICES
Input transaction reference number (~14 characters, alpha-numeric) e.g. VEDA11ABCDEFGH

Many destination banks also include:

NACH transaction sequence reference number (10 characters, numeric) e.g. 1234567890
Creditor utility code owner's name e.g. VEDA SERVICES PVT LTD

Narrations by destination banks

HDFC Bank

Narration: ACH D- VEDA SERVICES P-MERCHANTNAME
Cheque/reference field: 0000001234567890

Yes Bank

Narration: ACH DR VEDA SERVICES P MERCHANTNAME-1234567890
Cheque/reference field: n/a

HSBC

Narration: ECS-VEDA SERVICES P MERCHANTNAME1 1234567890
Cheque/reference field: n/a