Different Ways to Pay

Different Ways to Pay

12th Grade

30 Qs

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Different ways to pay & functions of money

Different ways to pay & functions of money

Unit 3 BTEC finance A2 ways to pay

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Different Ways to Pay

Different Ways to Pay

Types of Bank Account - Current Accounts

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Payment Types Review

Payment Types Review

Different Ways to Pay

Different Ways to Pay

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

Created by

David Urquhart

Used 165+ times

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30 questions

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1.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

A paper transaction giving a bank permission to transfer payment from your account to another account is not a definition of a......?

Cheque

Standing Order

Direct debit

Electronic Transfer

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Permission given to the bank (without a mandate) to make regular payments to a third party upon request is a definition of?

Standing Order

Direct debit

Mobile banking

Electronic Transfer

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A cash balance is held on a card which then reduces each time a transaction takes place e.g. school lunch card

Credit Card

Store Card

Pre paid card

Charge Card

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Permission given to the bank to make regular payments, of a set amount, to a third party upon request

Standing Order

Direct Debit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Direct Debit and a Standing Order both involve permission being given to make regular payments to a third party. But, what is the difference between the two?

A Standing order involves a set amount but a Direct Debit does not

A Direct Debit involves a set amount but a Standing Order does not

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Can only be used for a specific purpose is a disadvantage of which method of payment?

Standing Order

Pre paid Cards

Direct Debit

Electronic Transfer

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Can only be set up by the organisation to which you're making the payment. This is a feature of a.........?

Standing Order

Direct debit

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