BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Your credit card company covers the cost
|
|
|
It is deducted directly from your checking account
|
|
|
Your credit card company provides you with a cash advance to cover the cost
|
|
|
It is deducted from your credit card account
|
Detailed explanation-1: -Because the payment is deducted directly from a checking or savings account. If you use a debit card at a retail store, you or the cashier can run your card through a scanner that enables your financial institution to verify electronically that the funds are available and approve the transaction.
Detailed explanation-2: -You write paper checks, withdraw money from an automated teller machine (ATM), or pay with a check card.
Detailed explanation-3: -Which of the following is a way to access the money in your checking account? Using your debit card to pay for groceries at the checkout.
Detailed explanation-4: -Debit card transactions may not be reflected in your Available Balance immediately.
Detailed explanation-5: -Which is an advantage of paying your bills using the online bill pay feature with your checking account? It saves time and paper OR It eliminates late fees.