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What does transaction record mean?
On the ATM for Commonwealth. What's the difference between "record transaction" and "no transaction record"?
1 Answer
- 9 years agoFavorite Answer
I would say the difference between a record transaction and no transaction is on involving paper work first of all. You go to an ATM and you get a receipt that you either withdrew or deposited a certain amount of money. A lawyer might go further and state that a record transaction is a transaction witnessed by a third party- like you go to the bank and someone witnesses you depositing or withdrawing money so you have PROOF of the transaction- even though you do not have paper work, you have a witness that a transaction took place so it is a record because you can prove it with witnesses. Does this make sense? It's on the record!
Source(s): Common sense and business law
