What will display on the user's bank statement

There are a few options when deciding what you want your user's to see on their bank statements.

In your "Settings", select "Payment Methods", click on EFT or VisaDirect. Go to Transaction Description. This is what will display in your merchant's bank accounts.

There are two options, Fixed, or Per Transaction.

Fixed is when you define a transaction description for all transactions. The same thing will display on your user's bank statements for every transaction.

Per Transaction means that every time you create a transaction, the "memo" field will be required. What is defined in the memo field is what will be displayed on the user's banking information.