Payment Methods (Leaving Cert Home Economics): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What is cash?
What is cash?
Physical currency without bank accounts
What spending benefit does cash provide?
What spending benefit does cash provide?
You can only spend what you have
What is the main security risk of using cash?
What is the main security risk of using cash?
Lost/stolen money cannot be recovered
How long do cheques typically take to clear?
How long do cheques typically take to clear?
Several business days
Why are cheques safer than cash for large payments?
Why are cheques safer than cash for large payments?
They can be cancelled if lost/stolen
When are debit card transactions reflected in your account?
When are debit card transactions reflected in your account?
Immediately in real-time
What record-keeping benefit do debit cards offer?
What record-keeping benefit do debit cards offer?
Electronic record of all transactions
How do direct debits differ from standing orders?
How do direct debits differ from standing orders?
Direct debits allow variable amounts
What is the main advantage of automated payments?
What is the main advantage of automated payments?
Bills paid on time, preventing late fees
What do credit cards allow you to do?
What do credit cards allow you to do?
Borrow money from a card issuer
What happens if you don't pay credit card balance in full monthly?
What happens if you don't pay credit card balance in full monthly?
High interest rates lead to debt
What should you avoid when using online banking?
What should you avoid when using online banking?
Public computers & unsecured Wi-Fi