Define: Non-Financial Transaction

How is Non-Financial Transaction defined in a legal contract?

• Non-Financial Transaction means any transaction performed by a customer with a bank that does not cause a shift of funds or affect the balance(s) in the account(s). This can be initiated in many ways including manually, automatically, electronically, or remotely through channels provided by the bank or via internet banking services related to the account(s) and/or other business activities with the bank. This also includes mail messages which are taken as customer's instructions. Seen in 19 SEC filings
• Non-Financial Transaction means all transactions related to a customer's account with a bank, which do not create any financial impact on the customer’s account. Examples could be account enquiry, initiation of requests for statement download, and similar transactions. Seen in 9 SEC filings
• Non-Financial Transaction means Electronic data consisting of information or sets of information initiated remotely and electronically transmitted via digital channels and/or mobile banking related to the account(s) and/or other business activities with the bank. This also includes e-mail messages which are taken as a customer's instruction. Seen in 4 SEC filings
• Non-Financial Transaction means any transaction logged in the [organization's] switching mechanism including balance enquiry, statement generation, pin-change, [transaction type] and other value-added services transaction, insufficient funds transaction, incorrect pin transaction, declined transaction by the switch and are considered as payable to [organization]. Seen in 2 SEC filings
• Non-Financial Transaction means any transaction logged in the [organization's] switching mechanism including balance enquiry, mini-statement, pin-change, remittances and other value-added services. Seen in 1 SEC filing
• Non-Financial Transaction means all transactions related to a customer's account with a bank, which do not create any financial impact on the customer’s account, such as account enquiry, initiation of requests for statement download, and similar transactions. Seen in 1 SEC filing

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Non-Financial Transaction means any action with a [organization] that doesn't change account balances.

Relevant Contract Types

• Service Level Agreement
• Banking Agreement
• Business Partnership Agreement

Relevant Circumstances

• Account management activities
• Managing and maintaining user profiles
• Transaction logs reviews
• Corporate operational activities

Relevant Sectors

• Banking
• Information Technology
• Retail

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Genie Definition 2

• Non-Financial Transaction means any automated or manually initiated operation related to [organization's] account, without monetary impact.

Relevant Contract Types

• Internet Service Agreement
• Payment Processing Agreement
• Account Management Agreement

Relevant Circumstances

• Digital communication activities
• Automated system interactions
• Account activity reviews
• Regulatory compliance reporting

Relevant Sectors

• Banking
• Telecommunication
• E-Commerce

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Genie Definition 3

• Non-Financial Transaction means logged actions in the [organization's] system including balance queries and pin changes.

Relevant Contract Types

• Software Licensing Agreement
• IT Consultancy Agreement
• User Agreement

Relevant Circumstances

• System usage reviews
• Data logging and monitoring
• Network security measures
• Password management policies

Relevant Sectors

• Information Technology
• Cybersecurity
• Financial Services

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