DEFINITION OF 'AUTOMATED TELLER MACHINE ATM'

An electronic banking outlet, which allows customers to complete basic

transactions without the aid of a branch representative or teller.
There are two primary types of automated teller machines, or ATMs. The
basic units allow the customer to only withdraw cash and receive a report of
the account's balance. The more complex machines will accept deposits,
facilitate credit card payments and report account information. To access the
advanced features of the complex units, you will usually need to be a member
of the bank that operates the machine.

DEFINITION OF 'BANK CARD'

Any card issued against a depositary account, such as an ATM card or a debit
card. Sometimes the phrase is also used to refer to Visa and Mastercard,
since these are also issued by banks, but they are credit cards and not linked
directly to a depositary account.
Bank cards may be limited in their use, Some can only be used at ATM
machines or for certain purchases.

DEFINITION OF 'ONLINE BANKING'

The performance of banking activities via the Internet. Online banking is also
known as "Internet banking" or "Web banking." A good online bank will offer
customers just about every service traditionally available through a local
branch, including accepting deposits (which is done online or through the
mail), paying interest on savings and providing an online bill payment system.

DEFINITION OF 'TELEPHONE BANKING'

Telephone banking is a service provided by a bank or other financial institution, that
enables customers to perform financial over the telephone, without the need to visit a bank
branch or automated teller machine. Telephone banking times can be longer than branch
opening times, and some financial institutions offer the service on a 24 hour basis. From the
bank's point of view, telephone banking reduces the cost of handling transactions by reducing
the need for customers to visit a bank branch for non-cash withdrawal and deposit transactions.

DEFINITION OF 'POINT OF SALE - POS'

The place where sales are made. On a macro level, a point of sale may be a
mall, market or city. On a micro-level, retailers consider a point of sale to be
the area surrounding the counter where customers pay.

Also known as "point of purchase".