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Pay-by-Phone Systems

Pay-by-phone systems lets the user telephone his/her financial institution with instructions to pay certain bills or to transfer funds between accounts. The user must have an agreement in advance with the institution to make such transfers. Personal computer banking allows the user to conduct many banking transactions electronically via user’s personal computer. For instance, the user may use his computer to view his account balance, request transfers between accounts, any pay bills electronically.

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