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Direct Deposit
Earnings (or government payments) automatically
deposited into bank accounts, saving time, effort and money.
Automatic Payments
Utility companies, loan payments, and other
businesses use an automatic payment system with bills paid through
direct withdrawal from a bank account.
Automated Teller
Machines
Allow customers to obtain cash and conduct
banking transactions; some ATMs sell bus passes, postage stamps,
gift certificates, etc.
Point-of-sale Transactions
Acceptance of ATM, debit and credit cards at
retail stores and restaurants for payment of goods and services.
Store-value Cards
Prepaid cards for telephone service, transit
fares, highway tolls, laundry service or library fees, etc.
Electronic Cash
Companies are developing electronic replica of
all existing payment systems: cash, check, credit cards and
coins.
Cyberbanking
Banking through online services. Banks with
website 'cyber' branches allow customers to check balances, pay
bills, transfer funds, compare savings plans, and apply for loans on
the Internet.
Phone Banking
Phone banking services allow customers to
conduct their banking transactions from any touch-tone telephone
around the world, any time of the day. Customers can check account
balance, pay credit card bills, make third party payments such as
cashier's order, demand draft or telegraphic transfer, stop a cheque
payment or set up new time deposit
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Financial Tools
Quizzes
