WorksheetsMethods of Payment
Total questions: 12
Worksheet time: 4mins
What is this method of payment? Money is uploaded onto a card with transactions then being withdrawn to reduce the balance.
Debit Card
Store Card
Pre-paid Card
Charge Card
Cash is n (a) and coins in a wide range of denominations.
A c (a) is a written order to a bank, to make payment for a specific amount of money, from one person's account to another.
A store card is only accepted by the stores specified in the terms and conditions.
True
False
CHAPS is significantly f (a) that BACS.
A debit card is issued by banks, with payments for goods and services being d (a) directly from a current account.
Electronic transfer is when payment is transferred from one b (a) account to another.
This is when an agreement is made with a bank, allowing a third party to withdraw money from an account on a set day to pay for goods or services eg a gas bill.
Direct debit
Cheque
Electronic Transfer
Credit card
When a user has the ability to carry out financial transactions using mobile devices, such as phones as tablets, is known as what?
CHAPS
Contactless Card
Mobile Banking
Credit Card
Credit cards are issued by financial institutions, allowing customers to d (a) payments for goods and services.
Cards containing antennae, allowing money to be transferred when the card touches a contactless terminal, are known as what?
Cash
Store Cards
Contactless Cards
Pre-paid Cards
Standing o (a) are when an agreement is made with a bank, to transfer a fixed sum of money to a third party account, on a set date on a regular basis.
