In this we use Automatic teller machine, wire transfer and computers to move funds between different accounts in different or same bank. RTGS, Credit cards, Debit cards etc come under this category. It is a type of banking in which we can conduct financial transactions electronically. Non-payment of a cheque by the paying banker with a return memo giving reasons for the non-payment The way in which a bank keeps money in a deposit account in the same way the Depository Company converts share certificates into electronic form and keep them in a Demat account. It is an account that can be opened generally for business purposes with no restrictions on withdrawals and no interest paid Debit Card : It is a card issued by the bank so the customers can withdraw their money from their accounts electronically.
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