What is a transaction code?

A transaction code is a string of letters and numbers used to identify and track each specific transaction. Every time you make a financial transaction such as a money transfer, withdrawal, bill payment or online shopping, the bank assigns a unique transaction code to confirm the transaction has been completed.

The role of the transaction code is extremely important. First of all, the transaction code helps to authenticate that the transaction has been successfully and legally completed. When you make a transaction, the bank will issue a transaction code to confirm that the transaction has been completed. This helps you and the bank track transaction information accurately and transparently.

The transaction ID also helps you easily track and look up transaction details. When you need to review transaction history or resolve transaction-related disputes, the transaction ID will be an important piece of evidence to help you quickly identify and resolve issues.

In addition, transaction codes also enhance the security of financial transactions. Each transaction has a unique code, which helps prevent fraudulent activities and ensures that transaction information is not repeated or changed.

Illustration photo:ACB

When making a transaction, the transaction code is usually provided by the bank through a receipt, confirmation email or notification via the banking application. To use the transaction code effectively, you should save the receipt or transaction confirmation containing the transaction code. This will give you concrete evidence of the transaction you have made.

In addition, you can use the transaction code to look up transaction history through the banking application or Internet Banking service, helping you grasp detailed transaction information quickly and conveniently.

In case of any dispute or complaint regarding the transaction, the transaction code is an important piece of evidence that helps the bank identify and resolve the issue accurately. Therefore, you need to keep the transaction code information confidential and not share it with others to avoid being exploited for fraudulent purposes.

When you receive a transaction code, double-check the transaction information to ensure that all information is correct. Make sure you use banking apps or financial services from reputable organizations to protect your personal and financial information.

Cong Hieu

Source: https://vtcnews.vn/the-nao-la-ma-giao-dich-ar913222.html