Account Credits
Adding value to an account, often referred to as funding or topping up an account, can be accomplished through a variety of methods:
- Direct Deposits
- Funds are electronically transferred directly into an account, often from an employer (payroll), government (tax refunds or benefits), or another financial institution. This is a common method for bank accounts.
- Bank Transfers
- Funds are moved from one bank account to another, either within the same bank (internal transfer) or between different banks (Faster Payments, ACH).
- Cash Deposits
- Physical cash is deposited into an account at a bank branch, ATM, or retail location (PayPoint). Used primarily for prepaid cards or bank accounts.
- Refunds or Credits
- Funds are added to an account as a result of a refund (from a merchant for a returned purchase) or a credit issued by a service provider, such as a cashback reward or promotional credit.
- Account Funding Transactions
- Funds are transferred from a Visa cardholder account (or similar card-based account) to the target account via a non-purchase transaction processed through a payment network like Visa. Commonly used for topping up digital wallets or prepaid cards.
Account Funding Transactions (AFT)
A Visa Account Funding Transaction (AFT) is a specialised, non-purchase transaction designed to move funds from a Visa cardholder account to another account, such as a digital wallet, bank account, or to a peer-to-peer payment platform.
The AFT allows for the seamless and secure transfer of money for a variety of purposes, including account top-ups or direct payments. The AFT is processed through the Visa network, and will require authorisation to verify the cardholder’s account and to ensure sufficient funds. The transaction is then settled, thereby completing the transfer.
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