If you recently spotted the “BALBLDR” label on one of your bank transactions, then sure enough, you must be curious about it. Well, first of all, it is not a charge; it is actually a bonus directly made to you, which means it is money being added to your account rather than debited. And yes, there is nothing to worry about this BALBLDR thing; it probably is good news for you.
What Does BALBLDR Stand For?
Let’s start with the basics. BALBLDR means Balance Builder. That’s the more formal and official name representing a bonus program that originates from Citizens Bank.
As a customer, receiving a new savings or checking account from the bank and then complying with their direct deposit terms will make you a beneficiary of the bank’s monetary support. Your account gets credited with the money, and it appears as the code BALBLDR on your statement.
What Is BALBLDR Doing on My Credit Card Statement?
Then, what is the presence of BALBLDR disclosing? It pops up when you have satisfied the conditions of the bank’s promo offer.
Typically, this means you’ve received a certain amount of direct deposits within a set time. It is like getting money instead of being charged a fee. Banks usually use abbreviations such as BALBLDR to identify the bonus programs, which can be a bit unusual at the beginning.
How to Tell that BALBLDR is Printed on Your Statement
Most of the time, when you get your bank statement, the word “BALBLDR” is part of a description that is a bit longer than the word. What you might encounter is, for instance, CHKCARDBALBLDR BONUS or maybe POS REFUND BALBLDR BONUS. Although the exact wording may vary, the critical portion to identify is BALBLDR. Just look at the date and the amount and compare them to the bonus you were promised. Simple.
What are the Bonus Amounts and Time Schedules?
Ordinarily, the bonuses on a BALBLDR account would be from $300 to $600 and will mostly depend on the agreement that you signed when you opened the new account. In order to receive a gift, you have to perform several obligatory direct deposits, which are usually three or four months apart. Then the BALBLDR credits will come up in your account, which is normally three to four months later after your account has been started. However, the procedure might be slightly different, simply due to the way the bank handles business.
What People Are Saying About BALBLDR
A number of people often see BALBLDR in their accounts and mistakenly believe it is an erroneous or some kind of fake or fraudulent charge. But once they explore the matter in detail, they understand it is just a way the bank has chosen to provide them with their sign-up bonus.
Many people on forums reported that they had the bonus only from the larger transactions; the smaller ones, like from apps and one-time bank transfers, did not count toward the bonus, so the process was slow. And for some people, the credit appeared at once after their last qualifying deposit was certified.
