Electronic Funds Transfer (EFT) involves the transfer of money from one bank account to another through electronic means, leveraging computers and communication links. It encompasses various seamless financial services, including home banking and point-of-sale systems.
Home banking, also known as e-banking or online banking, refers to the process of carrying out banking transactions via a home computer linked to a bank's system through the Internet. It offers users the convenience to manage banking activities like balance checking and fund transfers from home.
Telephone banking is a form of home banking that enables customers to conduct various banking transactions over the phone, providing convenience and accessibility without needing to visit a bank branch.
Videotex, also known as viewdata or interactive videotex, is a revolutionary system wherein information is transmitted via telephone lines between a computer and a TV screen, allowing for interactive data entry and retrieval.
