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.
- 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.