Electronic Banking Electronic Fund Transfer (EFT) Offers 24-hour access to cash Computer and electronic technology are used instead of checks and paper transactions. Electronic Fund Transfers are initiated through cards or codes that are used to access an account. Electronic Funds Transfer Act www.fdic.gov/regulations/laws/rules/6500-1350.html Copyright © Notice: The materials are copyrighted © and trademarked ™ as the property of The Curriculum Center for Family and Consumer Sciences, Texas Tech University.

Electronic Banking Electronic Fund Transfer (EFT) Automated Teller Machine (ATM) Electronic terminal where deposits, withdrawals, and transfers can be made 24 hours a day. Generally requires a Personal Identification Number (PIN). Using an ATM may cost a fee. Direct Deposit Specific deposits can be made electronically to an account on a regular basis. Copyright © Notice: The materials are copyrighted © and trademarked ™ as the property of The Curriculum Center for Family and Consumer Sciences, Texas Tech University.

Electronic Banking Electronic Fund Transfer (EFT) Pay-by-Phone Systems Funds can be transferred, or bills can be paid over the phone. Personal Computer Banking Banking transactions are handled via personal computer. View account balances, request transfers, and pay bills electronically. Copyright © Notice: The materials are copyrighted © and trademarked ™ as the property of The Curriculum Center for Family and Consumer Sciences, Texas Tech University.

Electronic Banking Electronic Fund Transfer (EFT) Point-of-Sale Transfers Purchases can be made using a debit card; the money is transferred quickly from bank to store. This can occur at a store or business, the Internet or online, or by phone. Electronic Check Conversion Paper checks are converted into an electronic payment at the point of sale. For more information on electronic check conversion see www.ftc.gov/bcp/edu/pubs/consumer/credit/cre31.shtm Copyright © Notice: The materials are copyrighted © and trademarked ™ as the property of The Curriculum Center for Family and Consumer Sciences, Texas Tech University.

Electronic Banking Electronic Fund Transfer (EFT) If you decide to use electronic banking services, keep these tips in mind: Know where ATM or debit cards are at all times; if you lose them, report it as soon as possible. Do NOT use an address, telephone number, Social Security number, or birth date as a PIN number. Keep and compare receipts for all electronic transactions with periodic statements. Copyright © Notice: The materials are copyrighted © and trademarked ™ as the property of The Curriculum Center for Family and Consumer Sciences, Texas Tech University.

Electronic Banking Electronic Fund Transfer (EFT) If you decide to use electronic banking services, keep these tips in mind: Make sure you know and trust a merchant or company before sharing bank account information or pre-authorizing debits to your account. Review your monthly statements promptly and carefully. Copyright © Notice: The materials are copyrighted © and trademarked ™ as the property of The Curriculum Center for Family and Consumer Sciences, Texas Tech University.