diff --git a/docs/docs/tutorials/codealong/contract_tutorials/token_contract.md b/docs/docs/tutorials/codealong/contract_tutorials/token_contract.md
index 98a660a7c02..c94c39534e7 100644
--- a/docs/docs/tutorials/codealong/contract_tutorials/token_contract.md
+++ b/docs/docs/tutorials/codealong/contract_tutorials/token_contract.md
@@ -203,7 +203,7 @@ First, storage is initialized. Then the function checks that the `msg_sender` is
 
 This public function allows an account approved in the public `minters` mapping to create new private tokens.
 
-First, partial note is prepared by the call to `_prepare_transfer_to_private` for the minted tokens recipient. Then a public call to `_finalize_mint_to_private_unsafe` is enqueued while `msg_sender`, `amount` and the `hiding_point_slot` are passed in via arguments. Since we set `from` to `msg_sender` here the usage of the unsafe function is safe. The enqueued call then checks the minter permissions of `from` and it finalizes the partial note for `to`.
+First, partial note is prepared by the call to `_prepare_private_balance_increase` for the minted tokens recipient. Then a public call to `_finalize_mint_to_private_unsafe` is enqueued while `msg_sender`, `amount` and the `hiding_point_slot` are passed in via arguments. Since we set `from` to `msg_sender` here the usage of the unsafe function is safe. The enqueued call then checks the minter permissions of `from` and it finalizes the partial note for `to`.
 
 #include_code mint_to_private /noir-projects/noir-contracts/contracts/token_contract/src/main.nr rust
 
diff --git a/noir-projects/noir-contracts/contracts/nft_contract/src/main.nr b/noir-projects/noir-contracts/contracts/nft_contract/src/main.nr
index 401e5b015ed..ccefcbef97f 100644
--- a/noir-projects/noir-contracts/contracts/nft_contract/src/main.nr
+++ b/noir-projects/noir-contracts/contracts/nft_contract/src/main.nr
@@ -150,8 +150,8 @@ contract NFT {
 
         let nft = NFT::at(context.this_address());
 
-        // We prepare the transfer.
-        let hiding_point_slot = _prepare_transfer_to_private(to, &mut context, storage);
+        // We prepare the private balance increase.
+        let hiding_point_slot = _prepare_private_balance_increase(to, &mut context, storage);
 
         // At last we finalize the transfer. Usafe of the `unsafe` method here is safe because we set the `from`
         // function argument to a message sender, guaranteeing that he can transfer only his own NFTs.
@@ -160,20 +160,20 @@ contract NFT {
         );
     }
 
-    /// Prepares a transfer to a private balance of `to`. The transfer then needs to be
-    /// finalized by calling `finalize_transfer_to_private`. Returns a hiding point slot.
+    /// Prepares an increase of private balance of `to` (partial note). The increase needs to be finalized by calling
+    /// `finalize_transfer_to_private. Returns a hiding point slot.
     #[private]
-    fn prepare_transfer_to_private(to: AztecAddress) -> Field {
-        _prepare_transfer_to_private(to, &mut context, storage)
+    fn prepare_private_balance_increase(to: AztecAddress) -> Field {
+        _prepare_private_balance_increase(to, &mut context, storage)
     }
 
-    /// This function exists separately from `prepare_transfer_to_private` solely as an optimization as it allows
+    /// This function exists separately from `prepare_private_balance_increase` solely as an optimization as it allows
     /// us to have it inlined in the `transfer_to_private` function which results in one less kernel iteration.
     ///
     /// TODO(#9180): Consider adding macro support for functions callable both as an entrypoint and as an internal
     /// function.
     #[contract_library_method]
-    fn _prepare_transfer_to_private(
+    fn _prepare_private_balance_increase(
         to: AztecAddress,
         context: &mut PrivateContext,
         storage: Storage<&mut PrivateContext>,
@@ -235,7 +235,7 @@ contract NFT {
     }
 
     /// Finalizes a transfer of NFT with `token_id` from public balance of `from` to a private balance of `to`.
-    /// The transfer must be prepared by calling `prepare_transfer_to_private` first and the resulting
+    /// The transfer must be prepared by calling `prepare_private_balance_increase` first and the resulting
     /// `hiding_point_slot` must be passed as an argument to this function.
     #[public]
     fn finalize_transfer_to_private(token_id: Field, hiding_point_slot: Field) {
diff --git a/noir-projects/noir-contracts/contracts/nft_contract/src/test/transfer_to_private.nr b/noir-projects/noir-contracts/contracts/nft_contract/src/test/transfer_to_private.nr
index 742109682dc..03f59109aec 100644
--- a/noir-projects/noir-contracts/contracts/nft_contract/src/test/transfer_to_private.nr
+++ b/noir-projects/noir-contracts/contracts/nft_contract/src/test/transfer_to_private.nr
@@ -6,7 +6,7 @@ use dep::aztec::{
 };
 use std::test::OracleMock;
 
-/// Internal orchestration means that the calls to `prepare_transfer_to_private`
+/// Internal orchestration means that the calls to `prepare_private_balance_increase`
 /// and `finalize_transfer_to_private` are done by the NFT contract itself.
 /// In this test's case this is done by the `NFT::transfer_to_private(...)` function called
 /// in `utils::setup_mint_and_transfer_to_private`.
@@ -40,7 +40,7 @@ unconstrained fn transfer_to_private_external_orchestration() {
 
     // We prepare the transfer
     let hiding_point_slot: Field = NFT::at(nft_contract_address)
-        .prepare_transfer_to_private(recipient)
+        .prepare_private_balance_increase(recipient)
         .call(&mut env.private());
 
     // Finalize the transfer of the NFT (message sender owns the NFT in public)
@@ -96,7 +96,7 @@ unconstrained fn transfer_to_private_failure_not_an_owner() {
     // as the NFT owner check is before we use the value but that would made the test less robust against changes
     // in the contract.)
     let hiding_point_slot: Field = NFT::at(nft_contract_address)
-        .prepare_transfer_to_private(not_owner)
+        .prepare_private_balance_increase(not_owner)
         .call(&mut env.private());
 
     // Try transferring someone else's public NFT
diff --git a/noir-projects/noir-contracts/contracts/token_contract/src/main.nr b/noir-projects/noir-contracts/contracts/token_contract/src/main.nr
index 912454a55d2..e327690b2f1 100644
--- a/noir-projects/noir-contracts/contracts/token_contract/src/main.nr
+++ b/noir-projects/noir-contracts/contracts/token_contract/src/main.nr
@@ -433,8 +433,8 @@ contract Token {
         let from = context.msg_sender();
         let token = Token::at(context.this_address());
 
-        // We prepare the transfer.
-        let hiding_point_slot = _prepare_transfer_to_private(from, to, &mut context, storage);
+        // We prepare the private balance increase (the partial note).
+        let hiding_point_slot = _prepare_private_balance_increase(from, to, &mut context, storage);
 
         // At last we finalize the transfer. Usage of the `unsafe` method here is safe because we set the `from`
         // function argument to a message sender, guaranteeing that he can transfer only his own tokens.
@@ -444,21 +444,22 @@ contract Token {
     }
     // docs:end:transfer_to_private
 
-    /// Prepares a transfer to a private balance of `to`. The transfer then needs to be
-    /// finalized by calling `finalize_transfer_to_private`. Returns a hiding point slot.
+    /// Prepares an increase of private balance of `to` (partial note). The increase needs to be finalized by calling
+    /// some of the finalization functions (`finalize_transfer_to_private`, `finalize_mint_to_private`).
+    /// Returns a hiding point slot.
     #[private]
-    fn prepare_transfer_to_private(to: AztecAddress) -> Field {
+    fn prepare_private_balance_increase(to: AztecAddress) -> Field {
         let from = context.msg_sender();
-        _prepare_transfer_to_private(from, to, &mut context, storage)
+        _prepare_private_balance_increase(from, to, &mut context, storage)
     }
 
-    /// This function exists separately from `prepare_transfer_to_private` solely as an optimization as it allows
+    /// This function exists separately from `prepare_private_balance_increase` solely as an optimization as it allows
     /// us to have it inlined in the `transfer_to_private` function which results in one less kernel iteration.
     ///
     /// TODO(#9180): Consider adding macro support for functions callable both as an entrypoint and as an internal
     /// function.
     #[contract_library_method]
-    fn _prepare_transfer_to_private(
+    fn _prepare_private_balance_increase(
         from: AztecAddress, // recipient of the outgoing: TODO(#9887): this is not great?
         to: AztecAddress,
         context: &mut PrivateContext,
@@ -504,7 +505,7 @@ contract Token {
     }
 
     /// Finalizes a transfer of token `amount` from public balance of `from` to a private balance of `to`.
-    /// The transfer must be prepared by calling `prepare_transfer_to_private` first and the resulting
+    /// The transfer must be prepared by calling `prepare_private_balance_increase` first and the resulting
     /// `hiding_point_slot` must be passed as an argument to this function.
     #[public]
     fn finalize_transfer_to_private(amount: Field, hiding_point_slot: Field) {
@@ -557,7 +558,7 @@ contract Token {
         let token = Token::at(context.this_address());
 
         // We prepare the partial note to which we'll "send" the minted amount.
-        let hiding_point_slot = _prepare_transfer_to_private(from, to, &mut context, storage);
+        let hiding_point_slot = _prepare_private_balance_increase(from, to, &mut context, storage);
 
         // At last we finalize the mint. Usage of the `unsafe` method here is safe because we set the `from`
         // function argument to a message sender, guaranteeing that only a message sender with minter permissions
@@ -569,7 +570,7 @@ contract Token {
     // docs:end:mint_to_private
 
     /// Finalizes a mint of token `amount` to a private balance of `to`. The mint must be prepared by calling
-    /// `prepare_transfer_to_private` first and the resulting
+    /// `prepare_private_balance_increase` first and the resulting
     /// `hiding_point_slot` must be passed as an argument to this function.
     ///
     /// Note: This function is only an optimization as it could be replaced by a combination of `mint_to_public`
@@ -667,11 +668,11 @@ contract Token {
         ));
 
         // 4. We prepare the partial notes
-        // TODO(#9887): In each `_prepare_transfer_to_private` call we fetch the user's ovpk_m 2 more times. This is
+        // TODO(#9887): In each `_prepare_private_balance_increase` call we fetch the user's ovpk_m 2 more times. This is
         // very inefficient.
         let fee_payer_point_slot =
-            _prepare_transfer_to_private(user, fee_payer, &mut context, storage);
-        let user_point_slot = _prepare_transfer_to_private(user, user, &mut context, storage);
+            _prepare_private_balance_increase(user, fee_payer, &mut context, storage);
+        let user_point_slot = _prepare_private_balance_increase(user, user, &mut context, storage);
 
         // 5. Set the public teardown function to `complete_refund(...)`. Public teardown is the only time when a public
         // function has access to the final transaction fee, which is needed to compute the actual refund amount.
diff --git a/noir-projects/noir-contracts/contracts/token_contract/src/test/transfer_to_private.nr b/noir-projects/noir-contracts/contracts/token_contract/src/test/transfer_to_private.nr
index 52ff6d43915..f48bfb6127e 100644
--- a/noir-projects/noir-contracts/contracts/token_contract/src/test/transfer_to_private.nr
+++ b/noir-projects/noir-contracts/contracts/token_contract/src/test/transfer_to_private.nr
@@ -1,11 +1,8 @@
 use crate::{test::utils, Token};
-use dep::aztec::{
-    keys::getters::get_public_keys, oracle::random::random,
-    protocol_types::storage::map::derive_storage_slot_in_map,
-};
+use dep::aztec::oracle::random::random;
 use std::test::OracleMock;
 
-/// Internal orchestration means that the calls to `prepare_transfer_to_private`
+/// Internal orchestration means that the calls to `prepare_private_balance_increase`
 /// and `finalize_transfer_to_private` are done by the TOKEN contract itself.
 /// In this test's case this is done by the `Token::transfer_to_private(...)` function called
 /// in `utils::setup_mint_and_transfer_to_private`.
@@ -36,7 +33,7 @@ unconstrained fn transfer_to_private_external_orchestration() {
 
     // We prepare the transfer
     let hiding_point_slot: Field = Token::at(token_contract_address)
-        .prepare_transfer_to_private(recipient)
+        .prepare_private_balance_increase(recipient)
         .call(&mut env.private());
 
     // Finalize the transfer of the tokens (message sender owns the tokens in public)
@@ -82,7 +79,7 @@ unconstrained fn transfer_to_private_failure_not_an_owner() {
     // as the token balance check is before we use the value but that would made the test less robust against changes
     // in the contract.)
     let hiding_point_slot: Field = Token::at(token_contract_address)
-        .prepare_transfer_to_private(not_owner)
+        .prepare_private_balance_increase(not_owner)
         .call(&mut env.private());
 
     // Try transferring someone else's token balance