Getting Started with Transaction Enrichment
Transaction Enrichment provides additional context on a transaction beyond just the description and amount
- Category - what kind of payment is this? What level of risk does it carry?
- Merchant - who is the counterparty to this transaction?
- Payment Processor - what, if any, third party is processing the payment (e.g. PayPal, Zelle etc.)
Hierarchy
Transaction categories adhere to a simple, two level taxonomy. A level 1 category may have one or more level 2 categories.
Where possible, a transaction will be assigned a single level 2 category. If the transaction cannot be assigned a level 2 category, it may be assigned a level 1 category.
A transaction with a level 2 category will not contain the explicit detail of the level 1 category, but it can be inferred (a level 2 category can only belong to one level 1 category).
A transaction with a level 1 category may have this because it does not fit within any of the level 2 categories, or because Inscribe has not been able to discern which is the correct level 2 category.
Some categories will be restricted to account type (business vs personal) or amount direction (debit vs credit).
The full hierarchy is contained in the table below:
| Level 1 Category | Level 2 Category | Description |
|---|---|---|
| Bank Charge | OVERDRAFT_FEE | Fees charged by a bank when it temporarily covers transactions that overdraw the account (or the refund of this fee) |
| Bank Charge | NSF | "Not Sufficient Funds" - A fee charged by a bank when they decline payments or the cashing of checks that would bring the account to a negative balance (or the refund of this fee) |
| Bank Charge | NONE | Any other amounts charged by the customer's bank, payment processor or other financial instituition, not covered above |
| Entertainment | GAMBLING | Transactions related to gambling activity, including both outward payments and receipt of winnings |
| Entertainment | NONE | Transactions related to any other forms of entertainment, not covered above |
| Transport | FUEL | Fuel purchased for vehicles |
| Transport | NONE | Transactions related to any other transport expenditure, not covered above |
| Income | COMMISSION_RECEIVED | Commission received over and above customer's regularly salary |
| Income | REVENUE | Income related to goods and services sold by the (business) customer |
| Income | SALARY | Consumer's wages or salary |
| Income | SOCIAL_SECURITY | Consumer's social security payment receipts |
| Income | INTEREST_RECEIVED | Interest earned on credit balances |
| Income | NONE | Any other form of income not covered above |
| LOAN | MCA | Merchant Cash Advance - an advance made to a business in return for a share of future revenue |
| LOAN | PAYDAY | Pay Day Loan - A short term, usuaully high interest, consumer loan |
| LOAN | BUY_NOW_PAY_LATER_ | Repayments to Buy Now Pay Later companies e.g. Klarna |
| LOAN | MORTGAGE | Repayments to a mortgage loan, including repayment and disbursements |
| LOAN | AUTO_LOAN | Repayments to an automobile loan/ lease, including repayment and disbursements |
| LOAN | INTEREST_PAID | Any interest amounts paid in isolation, i.e. not included in loan capital repayments |
| LOAN | CARD_REPAYMENT | Repayments to a credit card |
| LOAN | NONE | Any other loan related transaction, not listed above, including repayment and disbursements |
| PERSONNEL | NONE | Business outgoing amounts related to personnel. Generally wages and salaries, but could also include employee expenses |
| PEER_TO_PEER | NONE | Tranfer of money between accounts of different owners, including using apps like Zelle and Venmo |
| REFUND | NONE | Reversal of purchase transaction, either crediting the account of the purchaser, or debiting the account of the seller |
| RENT | NONE | Money paid for permanent accommodation or business premises |
| SELF_TRANSFER | NONE | Money paid into an account from another account controlled by the customer |
| TAX | NONE | Tax paid |
| TRADING | CRYPTO_TRADING | Trading transaction, specifically related to Crypto currency |
| TRADING | NONE | Transactions related to any other form of trading, not covered above |
| WITHDRAWAL | NONE | Withdrawal of cash from the account (e.g. ATM or over the counter) |
| RETIREMENT | NONE | Regular income paid out a consumer's 401k into their bank account |
| INVESTMENTS | SWEEP_TRANSFER | Movement of funds between a business's accounts in order to optimise interest earned/ paid |
| INVESTMENTS | SAVINGS | Funds paid into a savings vehicle |
| INVESTMENTS | NONE | Investments, not listed above |
| INFRASTRUCTURE | NONE | Assets and software required for the running of the business. E.g. HR platform, accounting software etc |
| INSURANCE | NONE | Funds paid toward an insurance policy, or received from an insurance payout |
| ACCOMMODATION | NONE | Funds related to general accommodation |
| FOOD_AND_DRINK | NONE | Funds related to food and drinks |
| GROCERIES | NONE | Funds related to grocery shopping |
| HOTELS | NONE | Funds related to hotel accommodation (or similar) |
| RETAIL & ECOMMERCE | NONE | Funds related to other retail activities |
| UTILITIES | NONE | Payments towards the customer's energy bills, e.g. gas, electricity, water, internet |
Retrieving Enriched Transactions via API
See our API docs for further details here.
Updated 4 months ago