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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