Editing Transaction account (section)

== Features and access ==
[[Image:CanadianCheque.svg|225px|thumb|right|The [[cheque]] was the traditional mode of payment for a transactional account.]]
All transaction accounts offer itemised lists of all financial transactions, either through a [[bank statement]] or a [[passbook]]. A transaction account allows the account holder to make or receive payments by:

* [[ATM card]]s (withdraw cash at any [[Automated Teller Machine]])
* [[Debit card]] (cashless direct payment at a store or merchant)
* [[Money|Cash]] (deposit and withdrawal of [[coin]]s and [[banknote]]s at a branch)
* [[Cheque]] and [[money order]] (paper instruction to pay)
* [[Direct debit]] (pre-authorized debit)
* [[Standing order (banking)|Standing order]] (automatic regular funds transfers)
* [[Electronic funds transfer]]s (transfer funds electronically to another account)
* [[Online banking]] (transfer funds directly to another person via internet banking facility)

Banks offering transactional accounts may allow an account to go into [[overdraft]] if that has been previously arranged.  If an account has a negative balance, money is being borrowed from the bank and interest and overdraft fees as normally charged.