Nested if's or creating a fnSWITCH function

Hi,
I'm wondering if it is more efficient to create a column with a nested if statement or a Switch function that is built similar to the one in the guide - M is for (Data) Monkey. My data is a bank file. I have spent a day looking for ways to split a description column that contains valuable info for categorizing types of transactions. I found creating a Conditional column works the best but I have 64 possible tests. It seems a little cumbersome to write and manage.

The CHOOSE function in this post should be more manageable

http://www.excelguru.ca/blog/2014/09/03/multi-condition-logic-in-power-query/

Rather than hard coding the conditional values you could prob maintain a table and import that.