Text alternative - activity

The icons below represent the range of non-cash payment facilities available to your customers.

Read each item in the left column. Then access more information about it in the next cell.

Activity Table
Item	Feedback
Item 1 Direct Debits and Periodical Payments Access the next cell in the row for a description.	Description 2 A direct debit transaction and periodical payment (PP) both involve a transfer of funds from a customer's account to another specified account. The difference is that direct debits are initiated by another financial institution or external organisation. Periodical payments are initiated by the Bank. An example of a direct debit is a regular payment for health insurance withdrawn from a customer's account by a health insurance provider. An example of a periodical payment is a regular transfer of funds between two internal accounts, such as an everyday transaction account and a savings account.
Item 2 Telegraphic Transfers Access the next cell in the row for a description.	Description 3 A telegraphic transfer (TT) is the electronic transfer of money from one person or organisation to another. Customers most commonly use telegraphic transfers to transfer money from an account in Australia to an account with an overseas bank. The transfer is designed to be fast and convenient. Funds are usually available within one to three working days and there is no waiting for funds to clear. It is also designed to be safe because funds go directly to the other bank, which provides customers with the ability to trace sent funds.
Item 3 BPAY Access the next cell in the row for a description.	Description 4 BPAY™ is a centralised electronic bill payment service. Customers use BPAY™, over the phone or Internet, to pay bills from participating organisations by deducting the required amount from a nominated bank account or credit card. Approximately 3,000 Australian companies accept BPAY™.
Item 4 EFTPOS Access the next cell in the row for a description.	Description 5 Electronic Funds Transfer at Point of Sale (EFTPOS) provides a convenient way of paying for purchases without the need to exchange cash. Funds are transferred directly from the customer's bank account to the merchant's. At most merchants, customers can withdraw extra cash while making the EFTPOS purchase. EFTPOS transactions are conducted using an ATM (Automated Teller Machine) card, debit card or visa card.
Item 5 Travellers cheques Access the next cell in the row for a description.	Description 6 Travellers' cheques offer a means of making payments and receiving cash while traveling overseas. Financial institutions and merchants accept them all over the world. They are available from financial institutions and some travel agents.
Item 6 Cheques Access the next cell in the row for a description.	Description 7 A cheque is a written authorisation to pay money from an account to someone else (the payee). Cheques are issued by financial institutions and often used by people so they can avoid carrying large quantities of cash. They also offer a convenient payment method when other electronic means, such as EFTPOS and BPAY™, are not available.

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