Internet and Mobile Banking Glossaries

Access Restriction: Systems or processes requiring additional authorization before specific online or mobile transactions are completed.

Account nickname: Name used to personalize an online account.

Authorized Account: An account to which the account owner grants others access, requiring the use of an access code, PIN, or other forms of identification.

Authorized User: A person authorized to conduct transactions using another person's account.

Balance Transfer: Shifting funds from one account to another account.

Business Day: A day the bank or financial institution is open for business.

Challenge Number: Unique number used the first time an account is accessed online or through a mobile device.

Customer Access Number: Unique number given by the financial institution that identifies the user and nominated accounts. Access number may be different than the account number.

Electronic Transaction: Transfer of funds or other transaction using electronic access methods.

Merchant: Provider of goods or services allowing payment to be made through an electronic or credit card transaction.

PIN: Personal Identification Number enabling the cardholder or account owner to perform electronic transactions.

SMS Alert: A tool allowing account owners to receive alerts when a specific condition or event has occurred.

Unauthorized Transaction: An electronic transaction not authorized by the account owner or without the account owner's consent.