Telephone Banking


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Telephone Banking

Banking services offered over the telephone. Telephone banking often includes access to one's checking and savings accounts and the ability to view balances, make transfers and so forth. Generally, one must state one's social security number, answer a security question or provide some other information in order to verify that one is really the account holder. Many banks (though not all) offer telephone banking without any additional fees. See also: Online banking.
References in periodicals archive ?
Therefore, when a customer calls up to use telephone banking, the technology will be able to identify them simply from the first few words that are spoken.
The bank said on Monday that the new technology will make its telephone banking service easier to use and more secure than ever.
As well as potentially making the process of telephone banking quicker for customers, Barclays said it will also create a greater barrier against fraud, "due to the highly personal form of identification".
In the first six months of 2015 losses due to telephone banking scams nearly doubled to PS14.
The figures from Financial Fraud Action UK (FFA-UK) showed that losses due to telephone banking fraud have nearly doubled over the last year - from PS7.
The number of transactions processed by EDB's minibank systems fell by 9% in 2005, and telephone banking usage fell by 11%.
Telephone banking has now become a way of life for millions of people who settle bills, order statements, arrange loans, and obtain foreign currency and travellers cheques over the phone at any time of the night and day.
The Internet and telephone banking market is one that is experiencing a period of dramatic change, both in terms of users and product.
9m-worth of attempted card, online and telephone banking and cheque fraud from taking place in the first half of 2015.
Global Banking News-June 24, 2014--Barclays to offer voice recognition for telephone banking
Credit card service channels including telephone banking, SMS banking, online customer service of Internet banking and interactive voice service of telephone banking have been established to improve the service network and efficiency.

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