How to use telephone banking (2024)

FAQs

How do you use telephone banking? ›

To use telephone banking you don't necessarily have to use the telephone keypad. Instead, you can be asked security questions to check that you are who you say you are. Once you are through the security process all your banking needs should be met over the phone, including bill payments and checking your balance.

Telephone Banking is secure and confidential. You'll be given a membership number and passcode when you join that you'll need to access your account.

1) Full access may be limited to set hours. 2) Call centres & automated telephone systems can frustrate customers.

Customers would call the special phone number set up by the bank and authenticate their identity through the customer number, a numeric or verbal password, or security questions asked by a live representative.

Is Mobile Banking Safe on iPhone / Android Phone? Mobile banking can be safe on both iPhone and Android phones, it has built-in security features, regular security updates to protect you against malware or unauthorized access but it also has potential risks depending on how informed you are.

Risks of mobile banking

It's difficult to find software or technology that is entirely risk-free, and that holds true for mobile banking apps. The 2021 Nokia Threat Intelligence Report indicated that 50% of banking malware is targeted toward Android users, because Androids run on a fully open-source operating system.

According to some data-protection experts, banking with a smartphone via an official mobile app provides more security than a computer. That's because computers make it easier for users to inadvertently download malware.

Your telephone banking password is used to access telephone banking. It's a 5-digit number. Your PIN is a 4-digit number used to access your accounts at bank machines and point-of-sale terminals.

Telebanking services typically include checking account balances, transferring funds between accounts, paying bills, managing credit card accounts, and requesting account statements.

Telephone Banking. This facility allows customers to pay their utility bills (light, water and telephone), check the balance on their account, get a list of the last five transactions and transfer funds from one account to another at the same bank.

Which bank has the most secure online banking? ›

Our top three picks for the best online banks are SoFi Bank, Discover Bank and Ally Bank. To help you choose, we at the MarketWatch Guides team reviewed 154 banks and credit unions, 43 of which are online financial institutions.

You'll need your telephone banking passnumber and one of the following: Customer number. Account number. 16-digit debit card number.

Telebanking is when you perform banking transactions over a phone call while in mobile banking you use a software/interface on your mobile device to access your account and make a transaction.

Mobile Banking PIN means your personal identification number being the secret code used to access and operate the Mobile Banking System and your Digital Term Loan Account.

Telebanking is when you perform banking transactions over a phone call while in mobile banking you use a software/interface on your mobile device to access your account and make a transaction.