Methods of Payment Practice

Using a person's own money in physical form

• Cash

• Credit Card

• Debit Card

• Online Banking

Using a small plastic card issued by a financial company to borrow money that you will repay later

• Cash

• Credit Card

• Debit Card

• Online Banking

Using a small plastic card issued by a bank or financial institution to immediately transfer your own money out of your account

• Cash

• Credit Card

• Debit Card

• Online Banking

Using the internet to manage your money (making transfers, paying bills, making deposits, etc)

• Cash

• Credit Card

• Debit Card

• Online Banking

Forrest bought a pair of shoes by swiping his card at the store. He'll actually pay the balance at the end of the month.

• Cash

• Credit Card

• Debit Card

• Online Banking

Reynaldo likes that this method of payment allows him to transfer money from his account into his long-term savings account without having to leave his home.

• Cash

• Credit Card

• Debit Card

• Online Banking

Divya logs onto her computer and uses her bank's website to submit a payment for her electricity bill on the 25th of each month.

• Cash

• Credit Card

• Debit Card

• Online Banking

Wade dislikes that when he gets behind on his payments using this method of payment, he will be charged interest.

• Cash

• Credit Card

• Debit Card

• Online Banking

Fernando drove to his bank, made a withdrawal and then drove to the mall to purchase an outfit for his upcoming school dance.

• Cash

• Credit Card

• Debit Card

• Online Banking

Janae likes that she can count this method of payment in her hands and is more aware of how much she is spending.

• Cash

• Credit Card

• Debit Card

• Online Banking