What are transaction types?

What are transaction types?

Examples of financial transactions

The telephone payment service allows you to telephone your financial institution to give instructions to pay certain bills or to make transfers between accounts. To make these types of transfers you must have a prior agreement with the institution.

E-banking or banking from your personal computer allows you to handle various banking transactions from your personal computer. For example, you can check your account balance, make transfers to other accounts, and pay bills electronically.

When you give a check to a store cashier, the cashier processes it through an electronic system that captures your banking information and the amount of the check. You sign a receipt and the cashier gives you a copy for your records. When the store cashier returns your check to you, he or she must mark it as voided or otherwise mark it so that it cannot be reused. The merchant sends the check information electronically (but not the actual check) to your bank or other financial institution, and the funds are transferred to the merchant’s account.

Types of financial transactions examples

A financial transaction is an agreement, communication or movement carried out between a buyer and a seller in which an asset is exchanged against payment. It involves a change in the financial status of two or more businesses or individuals. The buyer and seller are separate entities or objects, usually exchanging products of value, such as information, goods, services or money. It would still be a transaction to exchange goods at one point in time and money at a different time. This type of transaction is known as a two-part transaction, with the first part being the delivery of money, and the second part being the receipt of goods.

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Types of transactions examples

Most businesses sell a product or service to a customer to make money. However, it can be much more complicated than that simple model; some businesses serve as a middleman from manufacturer to customer; others sell to other businesses; and some organizations do not follow a financial model that makes them a profit. All of these business models lead to different types of business transactions.

Most businesses sell a product or service to a customer to make money. However, it can be much more complicated than that simple model; some businesses serve as a middleman from manufacturer to customer; others sell to other businesses; and some organizations do not follow a profit-making financial model. All of these business models lead to different types of business transactions.

What are banking transactions

A transaction is a single stimulus and a single response in communication, in which there is a social level (in the figures represented by the solid line), which is the obvious one and which is often reflected in the verbal level, as well as an underlying psychological level (in the figures represented by the dashed line), which is often reflected in the non-verbal level.

In a general way, transactions are classified into simple and complex, so that in the former the social level and the psychological level are concordant or congruent, while in the complex ones the psychological level is not concordant or is incongruent with the social level. Simple transactions can be complementary and crossed, while complex transactions are the so-called ulterior ones, which can be angular and double.

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In complementary transactions (Fig. 1) the social stimulus that starts from a self-state of one person and is directed to a self-state of another person, receives from that self-state a relevant or expected, i.e. complementary, response. And the first rule of communication in Transactional Analysis says that as long as the communication is done through complementary transactions, the communication can be prolonged indefinitely, even though it may often be a negative communication in the background.