Okuzeka
Finance & Banking vocabulary · Payments & Cards

Transaction

Meaning in finance & banking, with examples

/trænˈzækʃən/nounCore term

In finance & banking, transaction means: A single movement of money, such as a payment, transfer, deposit or withdrawal, recorded on an account or card.

In Turkish: işlem, hesap hareketi

How it is used

One of the most frequent words in banking. Customers make, approve, dispute or cancel transactions; banks show pending and completed transactions and monitor them for fraud. 'Transaction history' is the list of past transactions.

Example sentences

  1. I don't recognise this transaction on my card. Can you check it?

  2. All transactions above a certain amount are checked automatically by the fraud system.

Common collocations

  • transaction history
  • pending transaction
  • dispute a transaction
  • transaction fee
  • suspicious transaction
  • bank statementA document from the bank that lists all the transactions in an account over a period, with the opening and closing balance.
  • chargebackThe reversal of a card payment after the cardholder disputes it, for example because of fraud or goods that never arrived. The money is taken back from the merchant.
  • wire transferAn electronic transfer of money from one bank account to another, often between different banks or countries.
  • suspicious transaction reportA confidential report that a bank must send to the national financial intelligence unit when it suspects that a transaction is linked to money laundering or terrorist financing.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Payments & Cards

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This page explains English vocabulary for learners. It is not financial advice.