In plain English
It means money changes hands from one holder to another. A set amount moves out of one account, person, or organization and into a different one.
In context
In this app, "transfer" refers to the action of moving an amount of money from one account, person, or organization to another.
- Situation
- Sending transfers, receiving payouts, withdrawing funds, and reading wallet balances
- What it communicates
- Names a money-movement option or section in the app.
Meaning limits
The term alone does not identify which account, person, or organization is sending or receiving the money.
Examples
“After the sale, the treasurer transferred $300 from the travel fund to the repairs account.”
“In the app, small reimbursements are transferred from the activities fund to the class account each week.”