Final Activity - BANKING

Why has the use of debit cards as means of payment increased in many countries?

• Immediate payment is made.

• Interest is charged on transactions.

• Payment may be postponed.

• Retailers refuse to accept cheques.

To avoid paying interest, credit card holders should pay for their goods

• at the time of purchase.

• before a date given on the monthly statement.

• two months after the purchase date.

• when their goods arrive.

Mrs Wang’s computer needs urgent repairs so that she can answer her emails. She has no money until she receives her salary next month.

What is the best way to pay for these repairs to her computer?

• bank loan

•  credit card

• debit card

•  hire purchase

Many debit cards now display the sign for contactless payments.

What additional service is provided to users of these debit cards?

• making small payments without entering a pin number

• obtaining cash back when using the card and a pin number

• paying for goods and services purchased online

• using the card to obtain local currency in another country

What is a disadvantage to the buyer of buying a television on credit?

• A credit check will be made by the seller.

• Interest may be charged by the seller.

• Payment is postponed until a later date.

• There is no need to carry a large amount of cash when buying.