Debit memorandum

Some banks charge a monthly fee for their services. Often they charge this fee only when the average monthly balance in a checking account falls below a specified amount. They identify the fee, called a bank service charge, on the bank statement by a symbol such as SC. The bank also sends with the statement a debit memorandum explaining the charge noted on the statement. Other debit memoranda may also be issued for other bank services such as the cost of printing checks, issuing traveler’s checks, and wiring funds to other locations. The symbol DM is often used for such charges.