- A method used to access one's bank accounts using a telephone to transfer funds, pay bills, and make account inquiries.
telephone banking, online financial institution
Related Terms and Acronyms
- Express Account — Definition,
- A low-fee or no-free chequing account, limited to ATM, telephone, and online transactions. Express account customers are charged fees when using bank teller services.
- Online Banking (OLB) — Acronym, Important,
- Access by personal computer or terminal to bank information, accounts and certain transactions via the financial institution's web site on the Internet. Also known as Internet banking.
- Online Bill Payment — Definition,
- A service offered by online banks, usually for a small monthly fee, that relieves consumers from having to write cheques and lick stamps to pay their monthly bills. Online bill payment systems allow people to enter the names of their creditors and the numbers of their utility accounts and pay virtually all routine bills.
- Online Debit Card — Definition,
- A method of payment in the form of a card that immediately deducts funds from a person's bank account when used. The card may have a VISA or MasterCard logo on it, or just the name of the bank that issued the card, similar to an ATM card.
- PC Banking — Definition,
- A service that allows a bank customer to obtain account information and perform certain bank transactions through a personal computer.