It is one of the fastest growing areas of high tech banking. A customer can perform a number of transactions from their own home or office or anywhere they have access to a phone. Telephone banking is a service provided by a financial institution, which allows its customers to perform transactions over the telephone. Most telephone banking services use an automated phone answering system with phone keypad response or voice recognition capability. To guarantee security, the customer must first authenticate through a numeric or verbal password or through security questions asked by a live representative. With the obvious exception of cash withdrawals and deposits, it offers virtually all the features of an automated teller machine ac balance information and list of latest transactions electron bill payments. funds transfers between a customers accounts, etc. Usually, customers can also speak to a live representative located in a call centre or a branch, although this feature is not always guaranteed to be offered. In addition to the se service transactions listed earlier, telephone banking representatives are usually trained to do what was traditionally available only at the branch: loan applications investment purchases and redemptions cheque book orders, debit card replacements, change of address, etc.
Usually the following services are offered by barks through telephone banking.
- Information about Products and Services.
- Information about Account Balance and Transactions.
- Information about status of Cheque Issued or Deposited.
- Information about Deposit Interest Rates.
- Information about ATM and Branch locations.
- Information/Issues on usage of -ATM, Internet Banking or Mobile Banking.
- Request for Cheque Book.
- Request for Statement by E-mail or Fax.
- Request for Duplicate Statement.
- Regeneration of ATM PIN for Debit Card.
- Regeneration of Internet Banking password.
- Blocking of Internet Banking User ID.
- Hot listing of Cards.
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