Automated or Self-Service Banking Transactions



Chapter 6

Automated Banking or Self-Service Banking Transactions

• Writing a cheque

Electronic Funds Transfer – the movement of money from one account to another using computers

• Direct deposit (of income from employers, from governments, and from investments can be made to your account)

• Automatic withdrawal (from your account can be made for payments on their due dates)

• Using debit card (money is transferred by computer from the purchaser’s bank

account to the store’s bank account)

ATM (Automated Teller Machines)

• Paying bills at an ATM

• Transferring money between accounts at an ATM

• Checking account balance at an ATM

• Withdrawing money from an ATM

• Depositing money at an ATM

Telephone Banking

• Paying bills by telephone banking

• Transferring money between accounts by telephone banking

• Checking account balance by telephone banking

On-line Banking

• Paying bills on-line

• Transferring money between accounts on-line

• Checking account balance on-line

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