It can be illustrated by the example of cash transfer from person to person. People come into the store and pay with cash. If the cash is transferred, we can’t talk about a transaction, because the bank does not participate here. If the purchase is paid for by card, then the money is transferred by the bank. Now we can talk about a transaction. The funds are transferred from the customer’s account to the store’s.
Another example of a transaction is cash withdrawal at an ATM. In order for the client to receive the money, it is first taken from the account and then cashed. Cash withdrawal is the final step of this transaction.
In fact, any transfer of money from one person to another person or an organization can be considered a transaction if a financial organization is involved in the operation. Payment in cash is not considered as such, but can be viewed as an illustration of the procedure.