Automated payments - SS2 Commerce Past Questions and Answers - page 1
What is the primary function of an ATM card?
To send and receive money internationally
To access bank accounts and perform transactions at ATMs
To deposit cash or checks into a bank account
Which company provides money transfer and payment services globally?
Western Union
MoneyGram
Both Western Union and MoneyGram
How can you send money internationally using Western Union or MoneyGram?
By visiting an ATM and using an ATM card
By writing a cheque and mailing it
By visiting a Western Union or MoneyGram agent location
What can you do with an ATM card at an ATM?
Send and receive money internationally
Access bank accounts and perform transactions
Deposit money into someone else's bank account
What is the main purpose of Western Union and MoneyGram?
To facilitate international money transfers
To provide credit cards and loans to individuals
To provide insurance services
How does an ATM card differ from Western Union and MoneyGram?
An ATM card is used to access bank accounts and perform transactions at ATMs, while Western Union and MoneyGram are financial service providers that facilitate international money transfers.
What options are available for receiving money through Western Union or MoneyGram?
The recipient can receive money as cash from an agent location or have it deposited into their bank account, depending on the available options in their country.