TRANSACTION TYPES
A numeral of transaction category may be performing, together with the subsequent:
- Sale: where the cardholder pays for goods or service
- Refund: where a merchant repayment an previous payment made by a cardholder
- Withdrawal: the cardholder extract funds from their account, e.g. from an ATM. The term Cash Advance may also be used, usually when the funds are superior by a merchant rather than at an ATM
- Deposit: where a cardholder deposits funds to their own account (typically at an ATM)
- Cash back: where a cardholder extract funds from their own account at the identical time as making a purchase
- Inter-account transfer: transferring money between associated accounts belonging to the same cardholder
- Payment: transferring funds to a third party account
• Enquiry: a transaction with no financial impact, for example balance enquiry, existing funds enquiry, associated accounts enquiry, or request for a statement of current transactions on the account
- E top-up: where a cardholder can make use of a device (typically POS or ATM) to add funds (top-up) their pre-pay mobile phone
- Mini-statement: wherever a cardholder exercise a device (typically an ATM) to get information of current transactions on their account
- Administrative: this covers a range of non-financial transactions including PIN Change.
The transaction forms offered depend on the terminal. An ATM would present diverse transactions from a POS terminal.