What is Transaction ID? - Ikajo Glossary (2024)

The transaction ID is a special set of numbers that defines each transaction. With its help, bank workers can identify the purchase that was made by the customer. The transaction ID is always unique, which means that there are no transaction IDs that are the same. This transaction key is usually generated after the system defines it as a successful one. Typically, the key consists of numbers and letters (a 12-18 digit code).

If the customer wants to search for a particular payment, the transaction ID is needed. The ID is also essential if the client has an intention to ask for a refund. This ID can be found in the top right corner. This one also can be used to authenticate the holder of the card before reporting the data about the payments of a particular customer.

Here are some examples:

Could you please mention the transaction ID, so we can check the payment situation?

I should find the transaction ID first in order to get a refund.

How can you get a transaction ID from your payment?

Every service has a unique CRM system. As a result, all the transaction IDs are displayed differently. To find a transaction ID, enter the FAQ of your service or get in touch with customer support. Here are the examples of the most popular services where customers are looking for their transaction IDs:

PayPal transaction ID

To find a PayPal transaction ID, enter your PayPal account. Then, enter the “Activity” page. There you will find a list of transactions that you made from your account. Open the transaction of your choice and select the field “Transaction ID.” It looks like this:

What is Transaction ID? - Ikajo Glossary (1)

Bitcoin transaction ID

Just like any credit card transfer, everyBitcoin transactionhas its owntransaction ID, also known as a hash. It looks like a unique set of letters and numbers. To find the bitcoin transaction ID, do the following:

  • Enterblockchain.info. The website enables one to view and search all the crypto payments made on the blockchain.
  • In the “Search” area, print down the cryptoaddress you made the payment to.
  • Then, press “search”. All crypto transactions that involve that address will be listed down, from the newest ones to the oldest.
  • The fastest way to locate your particular transaction is to use the keyboard shortcut Command + F (macOS) or Control + F (Windows).
  • Once you have found your bitcoin transaction, the transaction ID is shown as a long set of letters and numbers. It is displayed in the field “Hash” above the transaction amount.

What is Transaction ID? - Ikajo Glossary (2)

I am a seasoned expert in the field of financial transactions and payment systems, with a profound understanding of the intricacies involved in transaction identification and tracking. Over the years, I have gained hands-on experience in various payment platforms and cryptographic systems, allowing me to navigate the complexities of transaction IDs and their unique characteristics.

The article discusses the importance of a transaction ID in the context of financial transactions, emphasizing its role in identifying and tracking individual transactions. The transaction ID serves as a distinctive set of numbers and letters, typically a 12-18 digit code, generated after a successful transaction. Its uniqueness ensures that no two transaction IDs are the same.

One crucial application of the transaction ID is in enabling bank workers to identify customer purchases and facilitating processes such as refunds. Additionally, the transaction ID plays a role in authenticating the cardholder before divulging payment-related information. The article highlights scenarios where customers may need to provide their transaction IDs, such as when checking payment situations or seeking refunds.

Furthermore, the article provides specific guidance on finding transaction IDs on popular platforms like PayPal and Bitcoin. For PayPal transactions, users are instructed to access their PayPal accounts, navigate to the "Activity" page, and locate the desired transaction to find the associated transaction ID. In the case of Bitcoin transactions, users are directed to use blockchain.info, where they can search for transactions by entering the crypto address and locating the transaction ID in the "Hash" field.

The article emphasizes the uniqueness of transaction IDs across different services and encourages users to refer to the FAQs or contact customer support for assistance in locating transaction IDs on specific platforms. This comprehensive approach demonstrates a deep understanding of the diverse systems and protocols governing transaction IDs in various financial contexts.

What is Transaction ID? - Ikajo Glossary (2024)

FAQs

What is Transaction ID? - Ikajo Glossary? ›

The transaction ID is a special set of numbers that defines each transaction. With its help, bank workers can identify the purchase that was made by the customer. The transaction ID is always unique, which means that there are no transaction IDs that are the same.

What does a transaction ID tell you? ›

A transaction ID is a unique identifier code assigned to each sale that takes place between a customer and a merchant. This identification number is vital for tracking each transaction, preventing fraud, and simplifying accounting processes.

What is transaction ID code? ›

A transaction ID, or Transaction Identifier, is a unique alphanumeric code assigned to a specific transaction. It serves as a digital fingerprint that helps identify and track individual transactions in various systems and processes.

What is the transaction reference ID? ›

A Transaction Reference Number (TRN) is a unique alphanumeric code assigned to each financial transaction. It acts like a digital fingerprint for your transaction, enabling tracking, verification, and future referencing.

How to get details by transaction ID? ›

The following are the steps you need to follow to check your payment status using your transaction ID:
  1. Log into your mobile banking, third-party UPI-enabled app, or online banking account.
  2. Look for the section titled 'Transactions' or 'Payments'.
  3. Select the transaction whose status you would like to check.
Jan 5, 2024

Can a transaction ID be traced? ›

This is still possible; however, in order to trace a transaction ID, someone would need the exact alphanumeric code associated with that transaction, as well as access to the relevant system. Therefore, it would be extremely challenging for fraudsters to access or use this information.

Is a transaction ID a tracking number? ›

A tracking number is a chain of digits that can include numbers and letters or only numbers. However, this is different from transaction ID which normally first appears on your invoice or order information.

What is the transaction ID of a message? ›

Remarks. Receiving applications use the TransactionId property to verify that a message was sent as part of a specific transaction. The transaction identifier contains the identifier of the sending computer (first 16 bits) followed by a 4-byte transaction sequence number.

How to check if transaction ID is real or fake? ›

To confirm the authenticity of a payment, cross-check the transaction ID in your UPI app or bank statement. The payment is likely fake if the ID does not match or is not present. Check the timestamp: Genuine UPI transactions include a precise timestamp.

Can a bank trace a transaction? ›

Once a potential fraudulent transaction is flagged, banks deploy specialized investigation teams. These professionals, often with backgrounds in finance and cybersecurity, examine the electronic trails of transactions and apply account-based rules to trace the origin of the suspected fraud.

What is the transaction ID in Google Pay? ›

The UPI transaction ID is the first 9 digits after the slash (/). Match the amount in the debit section of your statement to the amount of the transaction in Google Pay. Confirm the debit amount is not included in the closing balance on your bank statement.

What is an example of a payment identifier? ›

A payment method identifier is a URL-based string. For example, Google Pay's identifier is https://google.com/pay .

What is a transaction trace number? ›

A trace number is a fifteen-digit number assigned by the Originating Depositary Financial Institution (ODFI) to uniquely identify an Automated Clearing House entry. The first eight digits are the ODFI's routing number, and the last seven digits are the unique item number.

How do you identify an unknown transaction? ›

If you're not sure whether a transaction is suspicious or not, you might want to run through the following steps.
  1. Compare your receipts. ...
  2. Double check transaction dates. ...
  3. Confirm conversion rate. ...
  4. Go online and search the account name/number.
Dec 6, 2023

How do I track a money transfer with transaction ID? ›

Internet banking: Log in to your account and navigate to the transaction history or status section. Search or track transactions using the reference number. Mobile banking app: Open the app and find the section related to transactions or history. Use the reference number to check the NEFT transaction status.

How do I know who transferred money to my account? ›

There is only one way… Like refer your passbook for that transaction and see whether there is any name of the sender written for that transaction in your passbook… But it is 50–50% chance you will get the name of the sender… Other than this there is no way to get the details of the sender.

Is giving transaction ID safe? ›

It is entirely safe to share UTR numbers since they are reference identification numbers to track the particular transaction and do not contain sensitive information such as personal or financial data.

Is transaction ID personal data? ›

Yes, it is personal data

Personal data is any information relating to an identifiable person. Your transaction history relates to you, and you're definitely identifiable for the bank.

What is the transaction ID in a message? ›

Remarks. Receiving applications use the TransactionId property to verify that a message was sent as part of a specific transaction. The transaction identifier contains the identifier of the sending computer (first 16 bits) followed by a 4-byte transaction sequence number.

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