Transaction


 

Transaction:

A Transaction always represents a transfer of funds. If no value can be attached to it, it is probably not a Transaction. Some properties of a Transaction: 

  • Classification: indicates the nature of the funds transfer:
    • CreditTransfer, DirectDebit, Reject, Cancel
  • DebitParty, CreditParty: the parties that are ultimately debited or credited as a result of the Transaction.

Transaction

  • Take care: debitPartyAccount, creditPartyAccount is not always the account that is credit/debited. For instance, at intermediary agent, only Nostro/Vostro accounts are debited/credited.
  • DebitCreditIndicator: indicates if the Transaction is a “debit” or “credit”. If the destination account is credited = “Credit”.
  • SettlementDay = the day on which the transfer of funds occur.
  • SettlementAmount, SettlementCurrency= the amount and currency of the transfer.


 



 





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