Hello. I am here to tell you about PRCR in bank statement. PRCR stands for Pre-Authorised Credit. This PRCR is a bank statement used to report transactions made by your choice or as a mistake from the bank’s end. This appears only for specific transactions pertaining to outside of India. Examples include online shopping from platforms like AliExpress. This serves as a safety measure to help you report any faulty transactions.

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I had always seen this term in my bank passbook, but never really knew what this meant. Recently, I was having a casual conversation with my friend, when he spoke about the PRCR charges. I asked him the meaning of PRCR in bank statement. He told me it stands for Pre-Authorized Credit, which basically shows transaction information. Let me share what I learned below.

Define PRCR in Bank Statement

I have seen this term shown in the bank statement/bank passbook/ATM mini statement when you purchase items from an e-commerce site or add money to an e-wallet online with debit/credit cards. I also researched about it online and found the following information.

1. The basic format of the transaction information is PRCR / XXXX / XXXXX

2. Here, X is the e-commerce website, POS, or Paytm.

3. I also learned it’s not a service provided by the bank, rather a mere detail about a transaction.

4. It’s just an automated transaction.

5. It also shows the receipts, payments, and balances in a bank account.

These are a few things I got to know about the term PRCR. You can also go through the previous answers that have mentioned the same‌. I hope this gives some clarity.

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What is CR in Bank Statement?

The most simplest definition could be, you have already authorized or bought a service and that service charged you on the first or on the end of the subscription, it is(PRCR) in the bank is ‘pre-authorized credit‘ in a transaction. It shows in the bank's passbook that a already authorized payment (authorized by you) that had to be made has been done successfully with the debit card. PRCR is completely legal and it shows up on your statements when a transaction is made especially international and e-commerce. Coming back to the point as it is as normal as the other transactions made using your debit card.

What PRCR meaning in a bank statement ?

The same PRCR in a bank statement can report the transactions made by your choice or mistake by your bank. This only appears in a statement for specific transactions made outside India like in case of buying items from Aliexpess or Banggood.

Where PRCR transactions show up in bank statement ?

Terminals are a point of sales such as big bazaar at which you pay them using credit/debit card or by cash. As well as the payment gateways can be said as POS where the electricity, gas, or mobile bills are paid.

With so many banking terms coming into the market it is difficult to stay updated with each and every term. Or at least it is difficult for me. I was confused too when I heard about

PRCR meaning in bank statement

. So I turned towards my ultimate guidebook which is the Internet. I came to understand that PRCR is known as preauthorized credit in a banking transaction. A PRCR in a banking transaction shows that there was a preauthorized payment that had to be made by a customer and that payment has been done successfully with the help of a debit card.

PRCR meaning in bank transactions

PRCR is a kind of transaction which is usually done for e-commerce or international transactions. It is completely legal and is evident on your bank statements for every PRCR transaction. 

However, it may happen that a PRCR transaction has not been done by choice and has happened by mistake by the end of your tank. You can check your bank statement for the same and get it corrected from the bank.

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You may spot the PRCR / XXXX/ XXXXXXX  in your bank statement or passbook. Ever wondered what is PRCR in bank statement? I will explain it to you in simple words.

What is the meaning of PRCR in bank statement?

PRCR is a pre-authorised credit appearing in the passbook as PRCR / XXXX/ XXXXXXX. It is recorded in bank history when the transaction is made through a debit card. It signifies that money has been deducted from our debit card.

PRCR appears on the bank statement if the transaction is carried out in India or in the E-commerce services. 

PRCR is a legal practice and it is automated meaning instructions for payment are made beforehand. It shows the debit card transactions in your bank account. 

You can spot the PRCR in the bank passbook, bank mini statement, etc. PRCR is also seen in bank account history in transaction history.

The ‘X’ in the middle of PRCR can be Paytm, E-commerce and POS.

For PRCR, you do not need to pay any charges. It is not related to the deduction made by the bank or transactions you have made outside India. This is not a complete service like ATMs, or SMS, therefore, banks cannot deduct any money for PRCR.

This was all about the meaning of PRCR in bank statement in a nutshell. Hope you like it.

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