Is transferring money between accounts considered a transaction?
Yes, transferring money between accounts is generally considered a transaction. Financial institutions typically classify these transfers as such, processing them like other debits or credits.
So, is moving money between my own accounts, like, a real transaction? I mean, it feels different than buying coffee, right? But yeah, apparently it totally is. My bank, at least – and I’m guessing most banks – counts it as one. They treat it just like any other debit or credit, you know? Like, the same way they handle when I actually spend money. It’s crazy to think about, actually. I remember once, trying to track my spending for a budget thing – a whole month of meticulously logging everything – and I almost forgot to include those internal transfers. Talk about a headache! It threw my whole spreadsheet off! So, yeah, lesson learned: even shifting money around is a transaction. Who knew? It’s definitely something I’ll be more careful about now.
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