types of bank transactions

Question 1

standing order

Answer 1

Instruction to bank by account owner to make regular payments to a third part

Question 2

direct debit

Answer 2

Arrangement with account owner and third party to transfer money occasionally

Question 3

credit transfer

Answer 3

Payment of funds from one account to another one initiated by payer

Question 4

direct transfer

Answer 4

Payment of funds from one account to another initiated by recipient

Question 5

dishonoured cheque

Answer 5

Cheuqe payment witch is returned to the bank because payer didnt have funds to cover it

Question 6

debit card payment

Answer 6

Deduction from account balance from payment with debit cards