5. Online and Electronic Banking
Order by
12 terms
Terms | Definitions |
|---|---|
 Also known as internet banking. Allows cunsumers to complete transactions with wireless technology. | Online Banking |
| A consumer may approve an automatic payment to be processed for a specific amount on a specific date. | Recurring Payment |
| Allows consumers to send money from one account to a vendor. | Online Payment |
| This outlines how a consumer's information will be used and protected. | Privacy Policy |
| This covers all electronic fund transfers. | Regulation E |
| A plastic card that looks like a credit card but is electronically connected to the card holder's depository institution. | Debit Card |
| Allows a person to write a check even though there is not enough money in the account in hopes of depositing the money before the check is processed. | Float Time |
| Personal identification number required for debit cards to be used. | PIN |
| This allows the consumer to call a company with instructions to pay certain bills or electronically transfer funds between accounts. | Pay by Phone System |
| Allows paychecks and benfit checks to be directly deposited into a specified depository institution account. | Direct Deposit |
| Authorized bills to be paid by a specific depository institution account. | Direct Payment |
| An electronic computer terminal located at the checkout of a store, allowing the consumer to use their debit card to make purchases. | Point of Sale Terminal |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.