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Module 8 4.02 E-Banking Services of Financial Institutions

AB
E-bankingUsing computer networks to make electronic funds transfers among accounts
accessThe ability to obtain money from one’s accounts quickly and easily
Point-of-sale (POS) transferThe place where a purchase is made and money is electronically moved
Personal Identification Number (PIN)A unique number kept secured and used to access an account and perform transactions
Automated Teller Machine (ATM)A computer terminal used to transact business with a financial institution
Direct depositArrangement for electronically depositing pay/benefits directly into an account
Direct withdrawalArrangement for electronically withdrawing funds from an account to pay bills
Smart cardCard storing pre-paid amounts of money to use when making purchases


NCVPS

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