Telephone banking is a service provided by a bank or other financial institution, that enables customers to perform financial transactions over the telephone, without the need to visit a bank branch or automated teller machine. Telephone banking times can be longer than branch opening times, and some financial institutions offer the service on a 24 hour basis. From the bank's point of view, telephone banking reduces the cost of handling transactions by reducing the need for customers to visit a bank branch for non-cash withdrawal and deposit transactions.
Read more about Telephone Banking: Operation, Authentication
Famous quotes containing the words telephone and/or banking:
“But even in a telephone booth
evil can seep out of the receiver
and we must cover it with a mattress,
and then tear it from its roots
and bury it,
bury it.”
—Anne Sexton (1928–1974)
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)