But we always see, the word "transaction" is used for such actions done by/through banks. Does the
word "procedure" have a broader meaning comprising the word "transaction" in your examples ? If you'd told that the banks have to follow some procedures for these kind of transactions, it'd have been understandable for me. As it is seen in my example, I understand the word "procedure" as a set of rules to be followed.
Thanks for your answer in advance.
Conversation with bank:
Me : I understand that you're going to put some money from my savings account into my current account every month. Is that right?
Bank : Yes, that's correct, but you then have to transfer 1% of it back.
Me : That seems very strange. I don't understand. How does it work?
Bank : It's a very simple procedure
. Each month you will see a transaction
on your statement - $5 will have moved from your savings account into your current account. You then transfer 5 cents back manually, to cover the tax. So on your final statement, you will see two transactions
- one from your savings account to your current account, and one the other way.
Me : Ah, thanks. Now I understand the procedure
This is obviously a completely fictitious conversation! The transaction is the specific act of moving the money, but the procedure consists of the step or steps taken in order for the whole thing to be complete.
I would agree that normally a procedure would probably have more than one step, but I wouldn't say that it has to.
Having a mole removed from your skin is a "medical procedure" but it simply involves aiming the laser at the mole. One step only.
One online dictionary gives this definition of procedure: the method of doing something.