The financial world often refers to compound interest as magic.Compound interest can be thought of as “interest building on interest” which adds to your principal.
An electronic funds transfer (EFT) allows payment between two parties by using electronic signals to transfer money.The current systems of electronic funds transfer began in the 1960s but became widespread in the 1970s with the introduction of the automatic teller machine (ATM).
Broadly speaking, mobile banking refers to any banking activities conducted on a cell phone.This includes receiving text alerts for fraudulent activities, accessing your account via the bank’s app, and using the bank’s website on your mobile device.