What to Do If You Don’t Recognize the Charge?

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When reviewing your bank statement, you may come across a charge labeled “SP AFF.” If you’re unsure about its meaning, you’re not alone. This term can be confusing, but understanding it is essential for managing your finances. This article will explain what “SP AFF” stands for, how it affects your bank statement, and what you should do if you don’t recognize the charge.

Understanding “SP AFF” on Your Bank Statement
The “SP AFF” charge on your bank statement is associated with Affirm, a company email list that provides Buy Now, Pay Later (BNPL) services. These services allow consumers to finance purchases and pay them off over time. The “SP” stands for “special purchase,” and “AFF” refers to Affirm, the platform that facilitates these types of payments.

When you see “SP AFF” on your bank statement, it typically means that you’ve made a purchase using Affirm’s payment plan, and the charge is part of a scheduled installment payment. It is important to check your Affirm account to confirm that the charge matches a purchase you’ve financed through their service.

How Does “SP AFF” Appear on Your Statement?
Affirm processes payments for a variety of online retailers, allowing you to split payments over a few months. The “SP AFF” notation appears to indicate an installment for that purchase, making it easier to track payments linked to Affirm’s BNPL services. It’s often followed by a transaction reference number or merchant name to help identify the specific purchase.

Why Do You See “SP AFF” Charges?
If you’ve used Affirm to make a purchase, you’ll see “SP AFF” charges when your payments are processed. The company allows consumers to buy items and pay them off over a fixed period, usually 3, 6, or 12 months, depending on the agreement you made at the time of purchase. Each time an installment is due, a corresponding “SP AFF” charge will appear on your statement.