Transaction types

A number of transaction types may be performed, including the following:

• Sale: where the cardholder pays for goods or service

• Refund: where a merchant refunds an earlier payment made by a cardholder

• Withdrawal: the cardholder withdraws funds from their account, e.g. from an ATM. The term Cash Advance may also be used, typically when the funds are advanced by a merchant rather than at an ATM

• Deposit: where a cardholder deposits funds to their own account (typically at an ATM)

• Cashback: where a cardholder withdraws funds from their own account at the same time as making a purchase

• Inter-account transfer: transferring funds between linked accounts belonging to the same cardholder

• Payment: transferring funds to a third party account

• Enquiry: a transaction without financial impact, for instance balance enquiry, available funds enquiry, linked accounts enquiry, or request for a statement of recent transactions on the account

• E top-up: where a cardholder can use a device (typically POS or ATM) to add funds (top-up) their pre-pay mobile phone

• Mini-statement: where a cardholder uses a device (typically an ATM) to obtain details of recent transactions on their account

• Administrative: this covers a variety of non-financial transactions including PIN change