On Wed, 07 Nov 2007 19:19:47 +0000, Graham P Davis
wrote:



It's worrying enough that such a person doesn't seem to know which way is up
but I was more worried to find that my bank gets similarly confused. I was
checking my bank statement the other day and, for the first time, noticed
that payments into my account were listed in the credit column and
withdrawals were in the debit column. Luckily there's not an error in the
arithmetic.


The bank is perfectly correct.

The statement you receive is an extract from the bank's accounts, seen
from THEIR point of view, not yours.

When you pay money in to the bank the bank's indebtedness to you is
increased. From their point of view you become more of a creditor and
your account is duly credited.

When you withdraw money from your account the bank's indebtedness to
you is reduced (if, for example, you were already overdrawn then from
their point of view you become more of a debtor). Your account is duly
debited.

If you were to keep your own accounts they would be a mirror image of
the bank's. Double entry and all that!