Chp 13 -Income Management

This card can be used for purchase of goods and services from selected outlets authorised by the bank.

• Expenditure Card

• Credit Card

• Cash Card

• e-banking Card

A low rate of interest is charged on the outstanding balance, therefore, you should be careful in using a credit card.

• Agree

• Disagree

Credit card is also known as ___________ money

• natural

• liquid

• plastic

• elastic

The amount of ________a customer can avail of is limited as agreed upon at the time of issue of the credit card.

• Debit

• Credit

• Both

• None

You can also withdraw money using a credit card through an ATM.

• Accoustic Telling Machine

• Acrobatic Teller Machine

• Automated Teller Machine

• Automatic Teller Mechanism

This card is issued against your _______bank account.

• current

• savings

• current or savings

• current and savings

As you make payment using the debit card, the money is automatically _______ from your account.

• credited

• debited

• both

• either

Using a _____________,you can withdraw money from an ATM at any time of the day or at night.

• Debit or credit card

• Only debit card

• Only credit card

• All of the above

Using a credit card at an ATM attracts a low interest rate. In the case of a debit card, you withdraw your own money for which high interest is charged.

• True

• False

Today financial institutions provide loans for many purposes like : (List 4 purposes)