Cryptocurrency Q&A
What is debit card txn?
What is debit card txn?
CryptoEagle
Sun Sep 01 2024
|
6 answers
1316
Excuse me, could you clarify what you mean by "debit card txn"? It seems like you're referring to a transaction made with a debit card, but I just want to make sure I have the correct context. If that's the case, a debit card transaction, or "txn" for short, is when you use your debit card to make a purchase or withdraw cash from an ATM or bank. It's a way to access the funds in your checking account without having to write a check or use cash. When you make a debit card transaction, the money is immediately deducted from your account balance. Is that what you were asking about?
6 answers
Valentino
Tue Sep 03 2024
TXN stands for Transaction Number in banking terminology. It is a unique identifier assigned to each transaction conducted using a debit or credit card in the online system. This unique code facilitates cross-referencing and tracking of financial activities.
Was this helpful?
229
97
SumoMighty
Tue Sep 03 2024
The issuing banks provide a TXN reference for both offline and online transactions. It serves as a verification tool, ensuring the authenticity and security of the transaction.
Was this helpful?
315
23
TaegeukChampionCourage
Tue Sep 03 2024
The TXN reference is crucial for customers to monitor their financial activities, including deposits and withdrawals from their personal accounts.
Was this helpful?
247
99
Eleonora
Tue Sep 03 2024
When a customer makes a deposit or withdrawal from their personal account, the bank system generates a TXN for that particular transaction.
Was this helpful?
259
51
GeishaMelodious
Mon Sep 02 2024
The TXN reference allows customers to track the status of their transactions and ensures that their funds are being processed correctly.
Was this helpful?
202
65
Load 5 more related questions
