Forms of Payment When Travelling (Grade 12 NSC Matric Tourism): Flashcards
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EFT definition
EFT definition
Digital money transfers between bank accounts via computer systems
SWIFT/Telegraphic transfer definition
SWIFT/Telegraphic transfer definition
Electronic money transfers between individuals or institutions
Bank draft key feature
Bank draft key feature
Funds drawn from bank's account, not personal account
Internet payments definition
Internet payments definition
Online transactions via internet for products/services
Foreign bank notes definition
Foreign bank notes definition
Physical cash (coins & notes) used in country you're visiting
Riskiest payment method for travellers
Riskiest payment method for travellers
Foreign cash - lost/stolen cash cannot be recovered
Credit card payment model
Credit card payment model
Borrow money at point of purchase, repay later with interest
Preloaded foreign currency cards also known as
Preloaded foreign currency cards also known as
Cash passports
Traveller's cheques definition
Traveller's cheques definition
Payment instruments for purchases or exchange for local cash
Best travel payment strategy
Best travel payment strategy
Use multiple payment methods for flexibility and security