Different Ways to Pay

Front

What is one advantage of using cash as a payment method?

Back

Most widely accepted form of exchange

Front

What is one disadvantage of using a debit card as a payment method?

Back

Short time lapse between making the transaction and the money being withdrawn from the customers account

Front

What is one advantage of using a credit card as a payment method?

Back

Allows a period of credit that is interest free

Front

What is one disadvantage of using a cheque as a payment method?

Back

Expensive for the consumer if the bank refuses to clear the cheque

Front

What is one advantage of using electronic transfer as a payment method? Options: Most widely accepted form of exchange, No need to carry cash, Provides a record of payment, An easy way to make regular payments e.g. utility bills

Back

Provides a record of payment

Front

What is one disadvantage of using direct debit as a payment method?

Back

If the payer makes a mistake and takes too much it is the payee’s responsibility to claim back the money

Front

What is one advantage of using a standing order as a payment method?

Back

The same amount is paid each time making it easier for the payee to plan and budget

Front

What is one disadvantage of using a prepaid card as a payment method?

Back

No protection if lost

Front

What is one advantage of using a contactless card as a payment method?

Back

Secure method of making payments

Front

What is one disadvantage of using a charge card as a payment method?

Back

Must be paid in full each month