What are nyx*LRS transactions and how to deal with them?
Tips / 26.09.2019
No matter which bank you use, once a month (probably) you get a bank statement, which lists all the transactions you have made during this time period.
It shows you where your salary has gone and what you have purchased. But what happens when you spot a transaction you don’t recognise and don’t remember making?
More often than not, it’s baffling to see a mysterious entry such as nyx*LRS on your bank statement. Where does that come from and should you suspect criminal activity?
Time to dig in.
What are nyx*lrs transactions?
The explanation behind these transactions is simpler than you may think:
The nyx*LRS transactions belong to a class of payments that use code words in order to be described. These payments hail from companies which offer services that usually do not require human intervention such as vending machines, phone booths or public transportation ticket machines. Paying for these services is generally done via credit/debit card or even by using contactless technology – for instance, your smartphone. nyx*LRS transactions, in particular, come from vending machines.
Choose the right card machine for your business!
Accept card payments via your traditional or smart card machine and enjoy instant access to your funds.Buy card machine
Chances are you have purchased a protein bar from your local gym with your smartphone or debit card.
But why are the nyx*LRS transaction locations inaccurate?
When looking at your monthly statement you may see that a nyx*LRS transaction may be listed as occurring in a place you haven’t been to. The reason for this is the following:
The vending machine you have used is usually linked directly to the company offering the service, which on the other hand, may not even be in the same town. What you see is basically the location of the company operating the vending machine.
Usually, banks are very accurate when it comes to following transactions, so when you see a payment you don’t understand this is not necessarily a mistake.
The nyx*LRS transactions are a great example of this. So, next time you see this transaction, do not worry – you now know where it comes from.