What is PRCR in bank statement?

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.

Read more:

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.