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AFT Transactions

AFTs, OCTs, account funding transactions, original credit transactions

Mar avatar
Written by Mar
Updated over a week ago

With the increasing demand for speed and efficiency, cardholders are constantly looking for faster and more convenient ways to handle their payments. This could include sending money to loved ones, topping up a prepaid card, or cashing into a digital wallet on their phone.

Technology has evolved to provide customers with the necessary tools to meet these ever-shifting needs. This is where Account Funding Transactions (AFTs) come in.

What are AFTs (Account Funding Transactions)?

AFTs facilitate a fast, easy, and flexible way for users to move their funds. Simply, an AFT is a type of transaction wherein a payment service provider, such as a bank or a financial institution, pulls money from a customer's Visa or Mastercard account (with their permission, of course!), in order to fund a separate non-merchant account. These transactions are a quicker option compared to the traditional method of bank transfers.

AFTs are commonly utilized for services like:

  • Topping up prepaid accounts

  • Transferring funds to another account (such as a savings account)

  • Acting as a funding source for Peer-to-Peer money transfers

  • Loading third-party digital wallets with a payment card

What are OCTs (Original Credit Transactions)?

An OCT (Original Credit Transaction) happens when a payment service provider, such as a bank or financial institution, directly deposits a payment onto a customer’s card or account.

If you’re wondering how OCTs are linked to AFTs, think of these transaction types as two sides of the same coin. An AFT is a “pull” transaction, while an OCT is a transaction wherein funds are “pushed” to the cardholder from the payment service provider.

From this perspective, AFTs and OCTs hold equally significant positions in the transaction cycle, with AFTs withdrawing funds from a cardholder’s account, before OCTs send them to the intended recipient.

Why should you use an AFT?

In today's world, swift and easy transactions are the way. AFTs provide numerous advantages to those who utilize them.

AFTs are:

Fast – AFTs are usually processed much quicker than standard bank transfers, which can be especially beneficial for those that require prompt payouts.

Convenient – Receiving funds directly onto a card is typically more convenient for customers. This eliminates the need for them to deposit a check or physically go to the bank, as their funds are made readily available for them to use or withdraw.

Global – You have the ability to process AFT payments in over 200 countries, wherever Visa and Mastercard are accepted, providing a wide-reaching solution.

Secure – AFTs utilize the safety measures of card networks, such as fraud detection and prevention. Additionally, as AFTs are backed by Visa and Mastercard, they are secure, dependable, and in adherence to PCI DSS (Payment Card Industry Data Security Standard) regulations.

Versatile – AFTs have a wide range of applications, including P2P transfers, digital wallet top-ups, prepaid card loading, and marketplace payouts. This makes them a valuable and flexible tool.

Simple – AFTs make it easier to handle complicated payment scenarios, like sending money to other countries and making disbursements abroad.

Traceable – Every AFT has a distinct transaction ID that can be utilized for monitoring and tracking. This assists in streamlining accounting and auditing procedures.

Can I make AFTs using Fluz virtual cards?

Please note that Account Funding Transactions are not supported for Visa BIN 475436. For further assistance, please reach out to your Power Sidekick.

Note: Account Funding Transactions are not supported on the Fluz Virtual Card with Visa BIN 475436.

More questions? Feel free to reach out to one of our Fluz Sidekicks. You may call our Customer Hotline at +1 646-760-7479. You can also use the Chat option at the bottom of your screen, or if you're on the app, go to Help and chat with us.

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