Funds transfer transaction

  ISO term (commonly abbreviated to transaction). Movement of funds directly between two parties involving no intermediaries other than a payment or communications service.
  An ISO term. The movement of funds directly between two parties involving no intermediaries other than a payment or communications service.

International financial encyclopaedia . 2014.

Look at other dictionaries:

  • Electronic funds transfer — or EFT refers to the computer based systems used to perform financial transactions electronically.The term is used for a number of different concepts: * Cardholder initiated transactions, where a cardholder makes use of a payment card * Direct… …   Wikipedia

  • Electronic Funds Transfer Act — The Electronic Funds Transfer (EFT) Act, also known as Regulation E, was implemented in the US in 1978 to establish the rights and liabilities of consumers as well as the responsibilities of all participants in EFT activities… …   Wikipedia

  • Electronic Funds Transfer Act — A federal law that protects consumers engaged in the transfer of funds through electronic methods. This includes the use of debit cards, automated teller machines and automatic withdrawals from a bank account. The act also provides a means of… …   Investment dictionary

  • electronic funds transfer at point of sale — EFTPOS The automatic debiting of a purchase price from the customer s bank or credit card account by a computer link between the checkout till and the bank or credit card company. The system depends on a customer s plastic card, which is ‘swiped’ …   Accounting dictionary

  • electronic funds transfer at point of sale — EFTPOS The automatic debiting of a purchase price from the customer s bank or credit card account by a computer link between the checkout till and the bank or credit card company. The system can only work when the customer has a debit card or… …   Big dictionary of business and management

  • Transaction —   Each product can have one or more Transactions, e.g. in case of a current account money can be withdrawn or a deposit can be placed.   An ISO term.   ISO Bank Card Originated Messages term. A specific action in support of a business activity.… …   International financial encyclopaedia

  • Transfer pricing — refers to the pricing of contributions (assets, tangible and intangible, services, and funds) transferred within an organization. For example, goods from the production division may be sold to the marketing division, or goods from a parent… …   Wikipedia

  • transaction — trans·ac·tion /tran zak shən, sak / n 1: something transacted; esp: an exchange or transfer of goods, services, or funds 2 a: an act, process, or instance of transacting b: an action or activity involving two parties or things that reciprocally… …   Law dictionary

  • Transaction authentication number — A Transaction authentication number or TAN is used by some online banking services as a form of single use passwords to authorize financial transactions. TANs are a second layer of security above and beyond the traditional single password… …   Wikipedia

  • transaction — noun Date: 1632 1. a. something transacted; especially an exchange or transfer of goods, services, or funds < electronic transactions > b. plural the often published record of the meeting of a society or association 2. a. an act, process, or… …   New Collegiate Dictionary

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