Vocabulary Related To Handling Money And Transactions Quiz

What is an IBAN?

• Integrated Banking Authorization Number

• International Bank Account Number

• International Branch Account Number

• International Business Account Number

What is the purpose of a backoffice in banking?

• To perform administrative and operational tasks

• To provide financial services

• To secure funds in the cardholder's account

• To welcome customers for banking transactions

What is the main function of a banknote?

• To provide financial services

• To manage payments

• To serve as a means of payment

• To collect savings

What is the meaning of a chargeback in a payment transaction?

• Cancellation of a payment due to a customer claim

• Transaction following the approval of a customer's means of payment's debit

• Fees owed by a customer for a transaction

• Outflow of money when making a purchase

What is the purpose of a visual cryptogram on a credit card?

• To withdraw cash from an account

• To make a purchase by touching the payment terminal

• To provide evidence in the sale of a product or service

• To ensure online payments

What is the main function of a chequebook provided by a bank?

• To withdraw money from an account without going to the bank's counter

• To give an order to pay a sum of money from a bank account

• To serve as a means of payment

• To make a purchase by touching the payment terminal

What is the purpose of a wire transfer in banking?

• To provide financial services

• To create an integrated European payments market

• To secure funds in the cardholder's account

• To credit a third party's account by debiting the account holder's account

What is the meaning of a stopped payment procedure in banking?

• To invalidate the use of a bank card or cheque in certain circumstances

• To remit a sum of money to a bank to be held in safekeeping

• To conceal the source of money derived from criminal activities

• To make a purchase by simply touching the payment terminal

What is the main function of a gift voucher issued by local authorities or individuals?

• To provide evidence in the sale of a product or service

• To make a purchase by simply touching the payment terminal

• To serve as a means of payment

• To accept accredited shops

What is the purpose of a centralPay platform for card networks?

• To withdraw money from an account without going to the bank's counter

• To create an integrated European payments market

• To provide financial services

• To digitize and optimize payment processes