What is phone banking?

What is phone banking?

Telephone banking is an automated system provided by the bank to access your bank account information via a touch-tone telephone. This type of phone banking system allows you to access your bank balance and make the necessary transactions. As soon as you dial the bank’s dedicated phone number, you will be taken through the system and based on the menu of different choices offered, you can decide to access the specific information you need.

All you have to do is dial the number of the relevant telephone banking service and simply follow the menu list of instructions. You can access the appropriate service by following the step-by-step instructions provided to you on the phone. This phone banking system provides you with 24 hour banking access service and you can enjoy this facility from the comfort of your home.

This system allows you to perform many banking-related activities, such as:

  • You can check your bank balance
  • Bills can be paid
  • Your bank deposits and other related bank transactions can be tracked.
  • A check book can be requested
  • You can block your debit or credit card just by leaving instructions on the phone. Such a situation can arise when you suddenly realize that your debit or credit card is missing or stolen
  • You can even request a stop payment on a check

All the above transactions can be done in two ways. One way is to use the banking facility and the other way is to talk to a live concerned bank person to do your banking. So, this concept of providing banking services over the phone has brought complete flexibility to the customer in terms of managing his bank account, according to his individual requirements and lifestyle. But to get access to the telephone banking system, you must first go through a special authentication procedure, where the customer must have two basic data.

One is your personal identification number (PIN). Both details are unique and important to access your bank account information through the telephone banking system. To take advantage of the automated telephone banking system, you must use a telephone system that is tone-based. On the other hand, if you don’t have a touch phone, you can dial the relevant bank representative. This person will first ask you some security based question and if you pass this verification test, then you will get all necessary assistance regarding your bank transaction request.

These days we have a call center concept which is a blessing for banking customers. The customer can call the customer service advisors who are ready to deal with your cell. All you have to do is simply take the initiative and make the right phone call by accessing the phone banking service. The phone banking system is safe and convenient for all banking customers. One has access to personal account information 24 hours a day, 7 days a week. Make sure you cultivate the right habits while using the phone banking system. You should not write down your bank account number and personal identification number (PIN) for telephone banking on a piece of paper. Try to remember your PIN details and account number so that you can use this information effectively while using the telephone banking system.

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