BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An automated teller machine
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A plastic card that requires a pin number and is attached to your bank account
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A form of savings
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Pre-printed form of payment that is attached to you bank account
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Detailed explanation-1: -A cheque, or check (American English; see spelling differences), is a document that orders a bank (or credit union) to pay a specific amount of money from a person’s account to the person in whose name the cheque has been issued.
Detailed explanation-2: -Cheques are also called negotiable instruments. In banking terms, a negotiable instrument is a document that promises its bearer a payment of the specified amount either on furnishing the document to the banker or by a given date.
Detailed explanation-3: -Personal Checks Paper checks issued from a personal checking account. Funds are taken directly from the checking account. May bounce if the bank account holder has insufficient funds for the amount of the check.
Detailed explanation-4: -Cashier’s checks are signed by the bank while certified checks are signed by the consumer. Cashier’s checks and certified checks are both official checks issued by a bank.
Detailed explanation-5: -What is a pre-printed deposit slip? If you find yourself regularly using deposit slips, you may find that a pre-printed deposit slip is an easier option. These are similar to standard deposit slips, but they come with important information already printed on the document.