Have you ever seen a charge on your credit card labelled ‘CPC’ or ‘SCP’ and wondered what it signifies? It might seem confusing at first glance, but there’s often a simple explanation.
The ‘CPC/SCP’ charge on your credit card statement indicates you purchased boxes, envelopes, and other items from Canada Post, billed to your credit card. It might also indicate payments for customs/duty fees on items bought outside Canada and delivered through their last-mile delivery service.
In this blog post, we’ll clarify what the CPC/SCP codes mean, why you might see them on your credit card statement, and what steps to take if you notice an unauthorized CPC/SPC charge on your credit card statement.
Key Takeaways
- The CPC/SCP charge on your credit card statement signifies a purchase made through Canada Post or may represent customs or duty fees for purchases made from outside of Canada.
- It’s common to feel concerned when seeing unfamiliar charges on your statement, such as the CPC/SCP charge, but rest assured, it’s legitimate and associated with Canada Post services.
- Whenever you encounter a charge you don’t recognize, reach out to your card issuer to gather more information and resolve any uncertainties.
What Does CPC/SPC Stand For?
CPC stands for Canada Post Corporation, while SCP is its French translation, Société Canadienne des Postes.
According to the Canadian government’s Organization Profile, Canada Post is a Crown Corporation responsible for conveying messages, information, and packages across the country, serving Canadians nationwide.
Established in 1867, Canada Post, formerly known as the Royal Mail of Canada, operates over 6,000 post offices across the country.
It caters to various sectors, including private and commercial, facilitating mail and package deliveries both domestically and internationally. With its vast network, Canada Post serves millions of addresses and offers a wide array of services.
What is CPC/SCP Charge on my Credit Card?
The most common reason for seeing a CPC/SCP charge on your credit card statement is that you made a purchase at a Canada Post location. This could be for buying stamps or sending a package to someone.
However, there are other scenarios where you might encounter this charge. For instance, if you bought something from outside Canada, you may incur customs duties when your item crosses the border. Sometimes, these fees are not included in the initial purchase, leading to a CPC/SCP charge appearing on your statement to cover them.
However, such charges aren’t solely linked to international transactions. They can also relate to domestic shipments, covering shipping fees and other associated services.
Although it might initially seem unclear, rest assured that a CPC/SCP charge is not a scam; it’s a legitimate fee associated with your transaction.
What Kind Of Purchases At Canada Post Show Up As CPC/SCP?
Here’s a list of some of the products and services from Canada Post that can show up as CPC or SCP on your credit card statement:
- Envelopes
- Gift cards
- Stamps
- Money transfers
- Shipment fees
- Boxes
- Customs/duty fees
If you maintain an account with Canada Post, it’s customary for them to retain your credit card information on file. Consequently, any shipments, be it letters, bill payments, parcels, or other items, trigger an automatic charge to your card.
What To Do If You Spot Unauthorized CPC/SCP Charge on Your Credit Card?
If you come across an unauthorized CPC/SCP charge on your credit card, here is what you should do:
- Contact Canada Post: Reach out to Canada Post and inform them about the unauthorized charge. Provide all relevant details, including the date and amount of the charge.
- Notify your credit card issuer: Immediately contact your credit card issuer if you suspect fraudulent or incorrect activity. They may have additional information about the transaction and can help determine its legitimacy.
- File a dispute: Take the necessary steps to file a dispute with your credit card issuer. If you’re confident the charge is fraudulent, initiate a chargeback. This will begin the process of removing the unauthorized charge from your account.
What is CPC SCP on my Bank Statement?
The CPC SCP on your bank statement indicates that you have a debit credit card such as Visa Debit or Visa Mastercard connected to your Canada Post purchases.
CPC SCP does not only appear on your credit card statement but also on your bank statement. It is a standard merchant code for Canada Post and you may also find it on your bank statement.
Other Common Abbreviations on Your Credit Card and Bank Statements
It is a common practice to use abbreviations on your credit card and bank statements in Canada. Here is a look at some common transactions you’ll see as purchases:
Abbreviation | Meaning |
RD Canada Internet | Reader's Digest |
MSFT | Microsoft |
Koodo | Telus |
Fido | Rogers |
Virgin | Bell |
TM | Ticketmaster |
MFS | XBOX |
PCS | Premier Fitness |
CLK | Click Bank |
Alternatively, there are also common codes that can show you where your deposits come from.
Abbreviations | Meaning |
Any transactions that come up under this abbreviation are a child tax credit. | |
This deposit is either from the Ontario Trillium Benefit or the Alberta Child and Family Benefit. | |
This refers to an income tax refund. | |
Employment Insurance income deposits | |
Old Age Security payments | |
GST payments | |
Canada Dental Benefit | |
Canada Workers Benefit | |
CHQ | Transactions that are made via a paper cheque. |
PAY | Pre-authorized payroll deposits |
RECOMMENDED READINGS:
- The 10 Best No-Fee Credit Cards in Canada for 2024
- The 10 Best Travel Credit Cards in Canada for 2024
- The 6 Best Secured Credit Cards in Canada for 2024
- The 7 Best RBC Credit Cards in Canada for 2024
Final Thoughts on CPC SCP Charges in Canada
Credit card statements can sometimes be confusing, especially when you come across unfamiliar codes like CPC/SCP.
The CPC/SCP charge typically indicates a transaction related to postal services, such as shipping or purchasing physical items like stamps or envelopes.
If you’re unsure about a transaction linked to this code, it’s essential to reach out to your credit card company for clarification. Whether it’s a recent delivery or a purchase of postal items, verifying charges ensures you’re aware of where your money is going. By staying proactive and seeking clarity, you can better manage your finances and avoid any potential errors in your statement.
