What is telephone banking?

Telephone Banking is a function offered by many banking institutions. The process includes the use of a keyboard on a phone with a touch tone to perform various banking functions. Along with traditional banks, telephone banking is also widely used by institutions of online banking, including banks that trade primarily with the use of telephone technology.

The concept of telephone banking has existed for decades. Initially, the process required manual intervention of the bank employee. Customers would call the bank, answered the questions to verify their identity and submit questions to the service representatives. Although somewhat demanding to work, this approach made it possible to make a number of banking transactions from the comfort of the home.

With the arrival of touch tones, the idea of ​​telephone banking has set a new direction. Instead of connecting with a live bank representative, customers could use the keyboard on the touch of an automated system and obtain informationon bank accounts since the last day of broadcasting. One of the advantages of this newer approach is that the bank customers could call at any time of the day or night and check the status of their accounts. As the technology continued in the procedure, the range of functions that could be performed with an automated system has expanded, making the service even more valuable to customers.

There are several ways to configure a telephone banking service. Some operate outside the validation process that includes voice recognition before accessing customers' accounts. Other systems use login data such as user names and access codes that must be entered using a telephone keyboard. Once customers enter the correct data, the automated system allows you to perform a wide range of functions in relation to connecting accounts with login information.

Typical Bank Customer has access to SVOut accounts and perform a number of functions. Balance can be checked and the latest activity can be checked. The customer can also transfer funds between accounts using telephone banking and order other checks, make loans or request information about other services offered by the bank.

In addition to using traditional banks, telephone banking is also used by virtual banks that rely strongly on telephone and Internet access to process transactions and provide information to customers. Phone banks generally work primarily by determining access data that can be used on any phone with a touch tone. In addition, transactions or questions can be carried out continuously, an advantage that allows the telephone bank to look for clients in any area of ​​the world where the bank is entitled to do business.

While the access to online banking is very popular today, most banking institutions continue to offer their customers free of charge withLužby telephone banking. This service remains popular with consumers who do not have to carry pocket devices that are ready on the Internet or who for some reason are unpleasant to use online banking.