StatementJet

Bank statement glossary

What Does POD Mean on a Bank Statement?

On a bank statement, POD most commonly stands for Payable on Death.

What POD means

A payable-on-death designation names one or more beneficiaries who will receive the money in an account when the owner dies. While the owner is alive, the beneficiary has no access to the account, and the owner can usually change or remove beneficiaries at any time.

When the owner dies, the beneficiary can generally claim the funds directly from the bank, usually with a death certificate and identification, without that account going through probate. Similar designations include ITF (in trust for) on bank accounts and TOD (transfer on death) on brokerage accounts.

How POD appears on a bank statement

POD usually appears in the account title or owner name, not on individual transactions. An illustrative example:

JANE DOE POD JOHN DOE

Here, Jane Doe owns the account, and John Doe is the beneficiary.

If POD appears next to an individual transaction instead of in the account title, it’s probably a bank-specific code. Check the legend or abbreviation key on your statement, or call your bank to ask what it means.

What to do if you see POD and aren’t sure why

  • Contact your bank to confirm who is listed as a beneficiary on the account.
  • If the designation is wrong or out of date, ask how to change it. Banks usually require a form.
  • Beneficiary designations can affect your estate plan and how FDIC insurance applies to the account, so ask your bank or an estate attorney if you have questions.
  • DDA: the bank term for a checking account, one of the account types that can carry a POD designation