BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Make Point of Sale (POS) purchase
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Recharge pre-paid mobile phones
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Pay Life insurance premium
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None of the above
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Detailed explanation-1: -Service of providing 45 days credit is given to the card holder is not a salient feature of debit card.
Detailed explanation-2: -Which of the following is not a characteristic of the credit cards? Answer : The credit card holders pay the credit card company a commission on every sale made via credit cards The above answer is the correct because credit card holders do not ne…
Detailed explanation-3: -It is simple to use and makes transactions fast, easy and convenient. Encourages Judicious Spending: In debit cards, there is no feature of the credit facility; thus, this encourages judicious spending. Acts like an Emergency Fund: A debit card can be used to withdraw money from an ATM, in case of an emergency.
Detailed explanation-4: -In case of Non-Personalized card (without name/ photo) the card is issued immediately by branch. In case of a personalized card (with name/ photo) the card can be made available after 7-10 days.