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The Ultimate Online Money Transferring Quiz
by Staff
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?

  • a cellphone
  • 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?

  • words
  • numbers
  • encrypted codes

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?

  • two
  • four
  • dozens

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?

  • 5 percent
  • 8 percent
  • 10 percent

Who owns PayPal?

  • Western Union
  • The Federal Reserve Bank
  • eBay

How much money can you transfer with PayPal?

  • 5000
  • 10000
  • 15000

How are money transfers generally transacted with iKobo?

  • by debit card
  • by e-mail
  • by telephone

Up to what amount is iKobo’s daily limit?

  • 500
  • 800
  • 1000

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?

  • PayPal
  • MoneyGram
  • iKobo

What is Money in Minutes?

  • a credit card service
  • a debit card service
  • a bank account transfer