Features and Access
All transactional accounts offer itemized lists of all financial transactions, either through a bank statement or a passbook. A transactional account allows the account holder to make or receive payments by:
- ATM cards (withdraw cash at any Automated Teller Machine)
- debit card (cashless direct payment at a store or merchant)
- cash money (coins and banknotes)
- cheque and money order (paper instruction to pay)
- direct debit (pre-authorized debit)
- Electronic funds transfers (transfer funds electronically to another account)
- giro (funds transfer, direct deposit)
- standing order (automatic funds transfer)
- SWIFT: International account to account transfer.
- Online banking (transfer funds directly to another person via internet banking facility)
Read more about this topic: Transactional Account
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