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electronic banking

   Also found in: Acronyms, Wikipedia, Hutchinson 0.04 sec.

electronic banking

Use of computers and telecommunications to enable banking transactions to be done by telephone or computer rather than through human interaction. Its features include electronic funds transfer for retail purchases, automatic teller machines (ATMs), and automatic payroll deposits and bill payments. Some banks offer home banking, whereby a person with a personal computer can make transactions, either via a direct connection or by accessing a Web site. Electronic banking has vastly reduced the physical transfer of paper money and coinage from one place to another or even from one person to another.



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Napolitano has been appointed as assistant treasurer and electronic banking manager.
The variety of electronic banking technologies available in the marketplace has greatly expanded in recent years.
Congress and regulatory agencies will need to adapt existing laws to address the complex issues presented by new electronic banking technologies," says Melanie L.
 
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