Money Moves: Peer to Peer Transactions

When comparing P2P apps, it’s important to pay attention to fees, safety and privacy and _____.

• how many businesses accept the app

• which of your friends and family members use it

• Brand name recognition

• Logo design and colors

Which of the following features is not important when comparing P2P apps and services?

• Users

• Safety and privacy

• Fees

• Data plan rates

Which of the following features is not important when comparing P2P apps and services?

• Fees

• Safety and privacy

• Users

• Brand

Most P2P apps or services can be linked to checking accounts, debit cards or _______.

• certificate of deposits

• money market accounts

• credit cards

• stocks and bonds

Which of the following accounts cannot be linked to most P2P apps or services?

• Credit card

• Checking account

• Debit card

• Certificate of deposit

Which of the following accounts cannot be linked to most P2P apps or services?

• a call from a representative call for payments over $100

• iris scan

• opting out of data sharing

• secure keys that are sent to both sender and receiver before payment is sent

Which of the following safety and privacy features is not included in a P2P app or service?

• Representative call for confirmation of payments over $100

• Verification of payment amount before sending

• Opt-out of data sharing

• A user PIN

You can protect yourself against sending a P2P payment to the wrong person by using an app or service that asks you to confirm the payment before it is sent, by double-checking the recipient’s information before sending and _____.

• by typing in the recipient’s information by hand

• by asking the recipient to send you a payment request first

• by contacting the recipient beforehand to tell them you’re sending money

• by texting the recipient to make sure they received the money

Which of the following ways is not something you can do to protect yourself against sending payment to the wrong person when using a P2P payment app or service?

• Double-check the recipient’s email or phone number before sending the payment

• There is no way to protect yourself against sending payment to the wrong person when using a P2P app or service

• Ask the recipient to send you a payment request

• Use a P2P payment app or service that asks you to confirm the payment before it is sent

How can you get your money back if you send a P2P payment to the wrong person?

• Contact a credit bureau

• Contact your P2P app or service and request to stop the payment

• Try to contact the person you sent the payment to

• Contact the police