How do debit & credit cards work - I_Quiz - 2

Is a debit card used for borrowing money?

• No

• Yes

If you don’t have money in your account, will the debit card still work?

• Yes

• No

Can you use a prepaid debit card without having a bank account?

• NO

• YES

Why do Merchants pay a small fee when you use your card?

• Merchants pay a fee to cover transaction processing costs.
• Merchants pay a fee to reward customers for using cards.
• Merchants pay a fee to increase their profits.
• Merchants pay a fee to comply with government regulations.

What kind of card is used only at the ATM?

(a)  

Which card lets you spend money already on it, like a gift?

• Credit card

• Prepaid debit card

• ATM card

• Debit card

Who earns money from debit card transactions but not interest?

(a)