BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Memorize the PIN number and keep it in your wallet.
A
True
B
False
Explanation: 

Detailed explanation-1: -The PIN serves as a secondary form of verification. Anybody could have possession of your card, but only you should know the PIN that works with the card. Because the PIN authorizes you (or whoever knows it) to access sensitive information, it’s essential to keep the number secret.

Detailed explanation-2: -PIN numbers are not required to use your debit card. You can continue to use the card by signing for purchases. Purchases made using a PIN could be denied if the merchant decides not to allow healthcare purchases on the PIN network. PIN numbers cannot be changed.

Detailed explanation-3: -A money order is a certificate, usually issued by a government or banking institution, that allows the stated payee to receive cash on demand. A money order functions much like a check, in that the person who purchased the money order may stop payment.

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