Meaning and usage of the word telebanking in English

Meaning of vocabulary telebanking

telebankingnoun
Telebanking
/ˈtelibæŋkɪŋ//ˈtelibæŋkɪŋ/

Origin of the word telebanking

The term "telebanking" originated in the late 20th century as a combination of "tele" and "banking." "Tele" refers to distance, communication, or transmission, derived from the Greek word "tele," meaning "far off." "Banking" refers to the business of financial institutions. Telebanking emerged with the advent of technologies like telephones and later, computers and the internet, enabling customers to conduct banking transactions remotely, without physically visiting a branch.

Example of vocabulary telebankingnamespace

Jennifer preferred telebanking to traditional bank visits, as it allowed her to carry out all her banking transactions from the comfort of her own home.
Telebanking has revolutionized the banking industry, making it convenient for customers to transfer money, pay bills, and check their balances without leaving their homes.
John's bank has introduced an advanced telebanking system that allows him to access his account details, make transactions, and speak with customer service representatives through a secure online or phone interface.
The telebanking service is particularly useful for elderly or disabled customers, who may find it challenging to visit their local branch.
With telebanking, John could easily request his bank statements through his online account or by calling customer service, which saved him time and effort compared to attending a branch.