What Is Transaction?
Example: "My bank statement shows 47 transactions this month, including 12 deposits and 35 purchases."
Why It Matters
Every time money moves in or out of your account, it creates a transaction record. These records appear on your bank statement and in your mobile banking app. Monitoring transactions regularly is one of the best ways to detect fraud early. If you see a transaction you don't recognize, report it to your bank immediately. Most banks allow you to set up real-time transaction alerts so you get a notification every time a purchase or withdrawal is made. Reviewing transactions also helps with budgeting by showing you exactly where your money goes.
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Practice Banking Terms Hands-On
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