Methods of Payment Quiz

Which method of payment is most suitable for buying an ice-cream?

• Store card

• Cash

• Debit card

• Credit card

What is the justification for using a store card at your favourite clothes store?

• It ensures payment is not missed.

• It is a secure way to make a payment virtually.

• It allows you to spread the cost and receive additional perks.

• It is easy to post and safe.

Which method of payment is recommended for paying rent?

• Cheque

• Standing order

• Direct debit

• BACS

Why is a debit card suitable for paying for goods bought online?

• It is easy to post and safe.

• It allows the cost to be paid in monthly instalments.

• It avoids transaction fees or interest charges.

• It ensures payment is not missed.

What is a suitable method of payment for posting a child £30 as a birthday present?

• Credit card

• Cheque

• Direct debit

• BACS

Which method of payment is suitable for paying for a holiday abroad?

• Store card

• Debit card

• Credit card

• Cash

What is the justification for using direct debit for a quarterly electric bill?

• It is a secure way to make a payment virtually.

• It ensures payment is not missed and is suitable as the electric bill will vary each quarter.

• It allows you to spread the cost and receive additional perks.

• It is easy to post and safe.

Which method of payment is suitable for a college paying a supplier's invoice?

• Cash

• Store card

• Cheque

• BACS

State two advantages of mobile banking.

• Available 24/7 and Convenient as can be accessed from anywhere

• Available 24/7 and Secure way to make a payment virtually

• Convenient as can be accessed from anywhere and Easy to post and safe

• Secure way to make a payment virtually and Easy to post and safe

State two disadvantages of prepaid cards.

• If lost or stolen can be used by a third party and Can be troublesome to top up and run out if you forget

• If lost or stolen can be used by a third party and Available 24/7

• Can be troublesome to top up and run out if you forget and Convenient as can be accessed from anywhere

• Available 24/7 and Convenient as can be accessed from anywhere