Sending money by means of an online money transfer is a safe and convenient way to deliver funds to another person. There are a number of ways to do this, from instantaneous transfers to ones that take several days. Take this quiz and find out the costs and conditions of online money transfers.
In banking, what does EFT stand for?
electronic funds transfer
emergency fund transaction
electronic forfeit technology
What is an online money transfer used for?
to purchase items in a store
to pay bills
to send money to another person
Where do you perform an online money transfer?
at a bank
on the phone
on a computer
In typical cases, what must the receiver of an online money transfer have?
an e-mail address
a bank account
Western Union is a major money transfer service, but what was its original function?
a telegraph service
a post office
a means to travel by stage coach
What does the Automated Clearing House do?
It offers security for the money transfer
It counts the money before it is transferred
It converts international currency
What form does the data take as it hurtles through cyberspace to its destination?
What happens if the data of the online money transfer is stolen or hacked on its way to the receiver?
The transaction is automatically cancelled.
The data comes out as gibberish.
An alarm goes off on the hacker’s computer and it shuts down.
How much money can you send in an online transfer?
You can send as much as you want.
You can send as little as you want.
It depends on the service provider.
How many online transfer services are there?
How much money can you send via Western Union in one transmission?
up to $3,000
up to $5,000
up to $!0,000
Where does the term TO WIRE MONEY come from?
Bell telephone service lines
Western Union telegraph services
CIA Special Ops division
How much does MoneyGram charge for an instant online transfer?
Who owns PayPal?
The Federal Reserve Bank
How much money can you transfer with PayPal?
How are money transfers generally transacted with iKobo?
by debit card
Up to what amount is iKobo’s daily limit?
In regard to credit cards, which one is more economical – a cash advance or an online transfer?
a cash advance
an online transfer
both the same
Which is the least expensive money transfer service?