Automated teller machine, also known as a cash machine
Topic 3: Payment Methods Key Terms

Quiz
•
Business
•
10th - 12th Grade
•
Easy
David Burger
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
ATM
Traveller's Cheque
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A pre-printed cheque for a set amount of currency, eg 50 or 100 US
dollars or euros. A traveller’s cheque can be exchanged for local
currency or used to make payments while abroad
Traveler's cheque
Bacs
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A service offered by some retailers when customers pay by card. The
retailer gives the customer cash and debits the amount of cash
handed over from the customer’s payment card
Cashback
Banker's draft
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A banker’s draft is similar to a cheque but the payment is signed and
guaranteed by the financial services provider that issues it, rather
than by an individual. Banker’s drafts are used for paying large sums
of money but are falling out of fashion for being old fashioned and
not particularly secure.
Banker’s draft
Debit card
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A card used to withdraw cash from ATMs or branch counters
Cash card
Cheque
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A written instruction to the provider (eg the bank or building society)
to pay a specified amount to a specified person or organisation. (The
law relating to cheques is quite complex so this is a simplified
explanation for the purpose of these study materials)
Direct debit
Cheque
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An electronic payment out of an account. The amount and frequency
of a direct debit payment can vary
Direct debit
Credit card
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