A transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets. In simple words, the transaction occurs after the sale and purchase transaction between the buyer and the seller. Person A pays person B in exchange for a product or service. When they agree to the terms, the transaction is completed and the transaction is made. Transaction history is a record of each transaction for a specific period of time. The main purpose of the transaction history is to control your account and the transactions carried out with it. Transactions can be divided into incoming and outgoing. You can get your transaction history from your bank's online application or by requesting it from your local bank branch.
Typically, the following information can be seen in the transaction history:
List of your transactions
- All activity on your account
- Accounts where money is transferred
- Date and time of the completed transfer
- Amounts of transfers made
- Maintain constant control over your expenses and income
- Success or failure of a completed payment
- The amount of money credited to your account
- Print payment receipts
The transaction history is information about all the movements of funds on the client's account, both replenishment and withdrawal of funds from the account. The history of transactions allows you to track the movement of funds in controversial moments. If desired, the client can track all his payments over a long period, thereby analyzing his spending and income level. In addition, the preservation of information about payments is in the hands of the client. For example, payments for utilities were made online, but for some reason they were not credited to the account of the management company. In this case, the subscriber will have a confirmation that he nevertheless made the payment. Depending on the service used, the history of transactions can vary greatly. In some services, transactions are limited - for example, only payment, in others only deposits and withdrawals, while others have more options.
- Request a history statement for a specific period of time
Why is transaction history good?
View all payments made over time, down to the exact minute.
Details of the payments made (for example, you need to make sure that you paid for your services exactly there, and all the details will be re-viewed there)
And of course the convenience of all this, in a couple of clicks you can open and examine everything in detail what is happening on your account.
The history reflects all payments that were made, whether you paid in the store with a card, whether you received a salary, whether you paid for any services, everything is reflected in the history as the actions are performed. Likewise, you can view the history of your credit card or account. When the payment was made, how much money was debited and how much is left.
It is very comfortable. We often forget whether we paid, for example, for electricity or something else. You can go into history and see when and how much, and how much was paid. If suddenly any disagreements arise with someone on payment, you can always prove that the funds have been transferred. Sometimes I also use history if I need to transfer money to someone, and there was a similar transfer before. You just go into history and repeat the payment, changing only the amount, if necessary. Very convenient, no need to fill in anything again, no data. A very useful function that reflects everything clearly and quickly.