Information about Telephone Banking
Telephone banking is a service provided by a financial institution which allows its customers to perform transactions over the telephone.
Most telephone banking use an automated phone answering system with phone keypad response or voice recognition capability. To guarantee security, the customer must first authenticate through a numeric or verbal password or through security questions asked by a live representative (see below). With the obvious exception of cash withdrawals and deposits, it offers virtually all the features of an automated teller machine: account balance information and list of latest transactions, electronic bill payments, funds transfers between a customer's accounts, etc.
Usually, there is also the possibility to speak to a live representative located in a call centre or a branch, although this feature is not guaranteed to be offered 24/7. In addition to the self-service transactions listed earlier, telephone banking representatives are usually trained to do what was traditionally available only at the branch: loan applications, investment purchases and redemptions, chequebook orders, debit card replacements, change of address, etc.
Banks which operate mostly or exclusively by telephone are known as phone banks.
Most telephone banking use an automated phone answering system with phone keypad response or voice recognition capability. To guarantee security, the customer must first authenticate through a numeric or verbal password or through security questions asked by a live representative (see below). With the obvious exception of cash withdrawals and deposits, it offers virtually all the features of an automated teller machine: account balance information and list of latest transactions, electronic bill payments, funds transfers between a customer's accounts, etc.
Usually, there is also the possibility to speak to a live representative located in a call centre or a branch, although this feature is not guaranteed to be offered 24/7. In addition to the self-service transactions listed earlier, telephone banking representatives are usually trained to do what was traditionally available only at the branch: loan applications, investment purchases and redemptions, chequebook orders, debit card replacements, change of address, etc.
Banks which operate mostly or exclusively by telephone are known as phone banks.
See also
In financial economics, a financial institution acts as an agent that provides financial services for its clients. Financial institutions generally fall under financial regulation from a government authority.
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A financial transaction involves a change in the status of the finances of two or more businesses or individuals.
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Purchase
The most common type of financial transaction. An item or good is exchanged for money...... Click the link for more information.
Authentication (from Greek αυθεντικός; real or genuine, from authentes; author) is the act of establishing or confirming something (or someone) as authentic, that is, that claims made by or about the thing are true.
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A password is a form of secret authentication data that is used to control access to a resource. The password is kept secret from those not allowed access, and those wishing to gain access are tested on whether or not they know the password and are granted or denied access
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automated teller machine (ATM) is a computerized telecommunications device that provides the customers of a financial institution with access to financial transactions in a public space without the need for a human clerk or bank teller.
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Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
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- e-billing
- EBPP
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A giro, also called a direct deposit, is a banking term for a method of payment. It is almost the opposite of a cheque. A cheque is given to the payee who deposits it in his or her bank, whereas a giro is given by the payer to his or her bank, which transfers funds into the
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A deposit account is an account at a banking institution that allows money to be held on behalf of the account holder. Some banks charge a fee for this service, while others may pay the client interest on the funds deposited.
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A call centre or call center (see spelling differences) is a centralised office used for the purpose of receiving and transmitting a large volume of requests by telephone.
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branch, banking centre or financial centre is a retail location where a bank, credit union or other financial institution (and by extension, brokerage firms) offers a wide array of face to face service to its customers.
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A loan is a type of debt. All material things can be lent but this article focuses exclusively on monetary loans. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the and the .
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Investment or investing[1] is a term with several closely-related meanings in business management, finance and economics, related to saving or deferring consumption.
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cheque (also spelled check - see Etymology and spelling) is a negotiable instrument[1] instructing a financial institution to pay a specific amount of a specific currency from a specific demand account held in the maker/depositor's name with that institution.
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A debit card is a plastic card which provides an alternative payment method to cash when making purchases.
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Please discuss this issue on the talk page and help summarize or split the content into subarticles of an article series.
A debit card is a plastic card which provides an alternative payment method to cash when making purchases.
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Phone bank can mean:
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- A collection of telephones within an organisation such as a call centre.
- A banking institution that does business solely or mostly via telephone. See telephone banking.
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Online banking (or Internet banking) is a term used for performing transactions, payments etc. over the Internet through a bank, credit union or building society's secure website.
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transactional account (North America: checking account or chequing account,[1] United Kingdom and some other countries: current account or cheque account
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transactional account (North America: checking account or chequing account,[1] United Kingdom and some other countries: current account or cheque account
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