The full form of TRTR in banking is Transfer Transaction, prominently displayed when an account holder generates a mini statement or prints his/her bank account passbook. TRTR is shown against any entry. Once a person makes a bank transaction of cash and transfers this transaction through cashless or cash mode, it is called TRTR. Transactions can be either credit or debit.
A transaction can be any activity that transfers money into or out of an account holder’s account, including withdrawals, debits, deposits, credits, transfers, payments, etc. They are usually of two types TFR and TLR. TFR means when the money will transfer between the accounts. On the other hand, TLR means all those transactions done through a bank branch.
Phases of Transfer Transaction
Transfer transactions majorly hold three consecutive phases named the access phase, the information phase, and the disengagement phase. Copying and transporting information are examples of consecutive phases.
Some other abbreviations of TRTR
Below given are some other famous meanings of TRTR, in addition to the banking sector:
- TRTR – Time Read to Read
- TRTR – Translate and Test Right
- TRTR – National Organization of Test Research and Training Reactors, Inc.
- TRTR – The Road to Rome ( Battlefield 1942 game expansion pack)