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REVIEW

Authored by Mayrelin EastCaryMS

Other

9th - 12th Grade

Used 1+ times

REVIEW
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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or false: In wire transfers there might be a maximum amount of funds that you are able to transfer. There are other ways of payment that are faster and/or cheaper than wiring.

true

false

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is true about Electronic Transfer (ETA)

There is a 25$ minimum fee

There is no minimum fee

They support check writing

The max service charge is 5 dollars a month

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Online banking is

Available 24/7

vulnerable to hacking

All of the above

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Online bill pay

allows you to be able to automatically make payments for your bills, online

Is only open from 5am to 5pm

does not exist

can only be unused from your computer

5.

MATCH QUESTION

1 min • 1 pt

Match the following

The person receiving the transfer would have to go to the senders bank to receive their transfer.

Electronic Funds Transfer Act (EFTA)

A convenient electronic banking outlet to make basic transaction without the need of a teller

ATMs

 a law that help protect consumers when making electronic transfers

Wire Transfers

Transfer of funds from one bank to another electronically

Electronic funds transfer payment (EFT)

6.

MATCH QUESTION

1 min • 1 pt

Match the following

Transfers can’t be held or bounced just because there aren’t enough funds being transferred.

Wire Transfers

 two different banks or institution that are held in the same country

International

These transfers are made in one country and going to a person in another country.

Domestic

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The first ATM in the US was installed by Chemical Bank in Long Island, NY 1969. 

True

False

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