Protocol can an only be used as a generic constraint because it has Self or associated type requirements

As I mentioned in the comment. What is missing in your code is that the associatedtype never actually becomes a type. Nowhere in the code in one of your structs you assign the type to the associatedtype. If you want a generic filterable functionality you could do something along those lines:

// Your generic Filters with required properties
protocol Filters: Encodable {
    var isWithdrawal: Bool { get }
    init(isWithdrawal: Bool)
}

// Your generic query parameters
protocol QueryParameters: Encodable {
    associatedtype F: Filters
    var page: Int { get }
    var filters: F { get }

    init(page: Int, filters: Filters)
}

// Filterable protocol will eventually accept any types conforming to Filters and QueryParameters
protocol Filterable {
    associatedtype F: Filters
    associatedtype P: QueryParameters

    func parameters() -> P
}

// This is your generic Transactions struct
// With this you will be able to pass other types that meet the constraints
struct Transactions<ParameterType: QueryParameters>: Filterable {
    typealias P = ParameterType
    typealias F = ParameterType.F

    func parameters() -> ParameterType {
        return P(page: 1, filters: F(isWithdrawal: true))
    }
} 

You're done with the generic stuff. Now you can create different model objects which conform to your protocols

struct TransactionFilters: Filters {
    private(set) var isWithdrawal: Bool // Conforming to filters
}

struct TransactionParameters<FilterType: Filters>: QueryParameters {
    // Telling what type is the object that conforms to Filters
    typealias F = FilterType
    var page: Int
    var filters: FilterType

    init(page: Int, filters: Filters) {
        self.page = page
        self.filters = filters as! F
    }
}

Create your transactions object like this:

let transactions = Transactions<TransactionParameters<TransactionFilters>>()
print(transactions.parameters().page)
print(transactions.parameters().filters.isWithdrawal)

You can create more types of QueryParameters and Filters

struct SomeOtherParameters<FilterType: Filters>: QueryParameters {
    // You can do custom stuff in your SomeOtherParameters struct
    // e.g. add an offset to page
    typealias F = FilterType
    var page: Int
    var filters: FilterType

    init(page: Int, filters: Filters) {
        self.page = page + 100
        self.filters = filters as! F
    }
}

// Your special filter that always returns false
struct SomeOtherFilters: Filters {
    init(isWithdrawal: Bool) {}

    var isWithdrawal: Bool {
        return false
    }
}

let transactionsWithDifferentFilters = Transactions<SomeOtherParameters<SomeOtherFilters>>()

// You can combine any types that conform to you declared protocols
let evenMoreTransactions = Transactions<SomeOtherParameters<TransactionFilters>>()
print(evenMoreTransactions.parameters().page)