Electronic & Telebanking

1. electronic/Tele Banking

1.1. Overview of Electronic/Tele Banking

From a general perspective electronic/Tele brinking means the ability to have 24-hour access to the bank both through with(predicate) web based services, mobile services much(prenominal) as SMS banking or simply be able to achieve through an automated teller machine (ATM).

Electronic/Tele banking, also know as Electronic Fund Transfer or Electronic Financial Telecommunication, uses computer and electronic technology as a substitute for checks and other paper legal proceeding and are initiated through devices like cards or codes that allow you access the banks services. more financial institutions use plastic cards (ATM cards, Debit cards, creed cards or smart cards) and Personal Identification numbers game (PINs) for this purpose while phones make use of codes and PINs for transactions.

Examples of Electronic Banking Services

         automatize Teller Machines or 24-hour Tellers are electronic terminals that let you bank almost any time to withdraw cash, make deposits, or transfer funds between historys. Today it is common to run across banks providing ATM services to other bank customers by charging a premium from the customer for such transactions.

        Direct Debits lets you authorize particularized direct withdrawals so that recurring bills, such as insurance policy premiums, mortgages, and utility bills, are paid automatically.

        Personal Computer Banking also known as home banking lets you handle many banking transactions via your personal computer. For instance, you may use your computer to view your account balance, request transfers between accounts, and pay bills electronically.

        Point-of-Sale Transfers (POS Terminal Transfers) let you pay for purchases with a Debit Card, which also may be your ATM card. The process is similar to using a address card, with some important exceptions. While the process is fast and easy, a debit card purchase transfers money - fairly readily - from your bank account to the stores account. So its important...

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