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Direct Deposit
Earnings (or government payments) automatically deposited
into bank accounts, saving time, effort and money.
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Automatic Payments
Utility companies, loan payments, and other businesses
use an automatic payment system with bills paid through
direct withdrawal from a bank account.
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Automated
Teller Machines
Allow customers to obtain
cash and conduct banking transactions; some ATMs sell
bus passes, postage stamps, gift certificates, etc.
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Point-of-sale
Transactions
Acceptance of ATM, debit and credit cards at retail stores and
restaurants for payment of goods and services.
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Store-value
Cards
Prepaid cards for telephone service, transit fares, highway
tolls, laundry service or library fees, etc.
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Electronic
Cash
Companies are developing electronic replica of all existing
payment systems: cash, check, credit cards and coins.
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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.
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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 accounts.
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| For related
links and additional reading, select your country/ market
below. |
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