Details Title: Electronic and Online Banking Description: Terms Total Flash Cards: 12 Created: 11/13/2008 20:56:52		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Finance Flashcards
Cards in this set: Term What is Electronic Fund Transfer? Definition The electronic movement of money that allows electronic banking or e banking to be accomplished Term E-banking allo a person to make withdrawls, deposits, and bill payments by one of these methods Definition Phone, computer, ATM, Point of Sale Terminal Term What is a debit card? Definition Plastic cards which look like credit cards but are electronically connected to a card holders depository institutuion account. Term What is a Personal identification Number(PIN)? Definition A number that is evntered in at an ATM or POS Term ATM allow these transactions to occur... Definition Deposits, Cash withdrawls, Transfers between Accounts, Account balance info Term What is Point of Sale Terminal? Definition Are located at stores and allows the customer to use a debit card to make a purchase Term What is direct deposit? Definition Paychecks and benefit checks are directly deposited into a specified depository institution account. Term What is direct payment? Definition Authorizes bills to be paid by a specific depository institution account. Term What is a payroll card? Definition Reloadable cards linked to a credit card company, allowing employees to withdraw money from the ATM or purchase goods through POS Term What does the Check clearing for the 21st Century Act (Check 21) do? Definition Transfers checks electronically Term What is float time? Definition The time between writing the check to when the money is withdrawn from the depoistory institution account. Term What is the pay by phone system? Definition Allows the consumer to call a vendor with instructions to pay certain bills or to electronically transfer funds between accounts