Online banking rewards programs offer customers the convenience of banking by computer with the added bonus of points that can be redeemed for a wide variety of shopping or travel benefits. Their motto is "Spend money to save money." Take this quiz and find out how spending your money online to pay bills, etc., will help you earn you money offline.
Where is online banking performed?
on the phone
on the computer
at the bank
What is the alternative to online banking?
brick- and-mortar banking
How does the customer benefit from online banking?
easy account access and better money management
less legwork and more free time
advanced and enhanced computer skills
How do the banks benefit from online banking?
lower administrative costs
less time spent with clients
What is the purpose behind online banking reward programs?
to reward referrals
to reward loyalty
to reward early payments
At present, how many types of online reward programs are there?
There are two.
There are four.
It depends on the bank.
How does one accumulate points?
by clocking in
by spending money
by bringing in new customers
In the points-based reward program, which one of the following is not a reward option for accumulated points?
a cash credit
lower service fees
According to the article, what would be a worldwide advantage if everyone did their banking online?
Trees would be saved.
The global economy would improve.
Families could spend more time together.
Once you enroll in an online banking rewards program, how long do you have to wait before you can start earning points?
You have to wait three days.
You have to wait a week.
You can start immediately.
With many of the online rewards programs, what is the advantage of using your credit card?
extended payment time
extended payment time
How can you earn more points by buying at the Gap or Office Depot?
by buying in bulk
by ordering via Skype
by purchasing through a network of merchants
How do you find out how many points you have?
You receive a monthly statement in the mail.
You check your account online.
You call the bank and ask.
Why are some small banks offering higher interest rates for their online rewards checking accounts?
to keep their existing customers
to attract new customers in the area
to attract new online customers
Why do banks prefer rewards checking accounts over regular checking accounts?
because the clients maintain larger bank balances
because the accounts are easier to deal with
because they get to know their customers better
How much is the limit to the amount of money in an account that earns the higher rate of interest?
What are the two types of gift cards?
open loop and hula hoop
open loop and closed loop
open hoop and closed hoop
What is the most highly recommended thing to do when you receive a gift card?
Save it for when you really need it.
Splurge and buy something extravagant.
Use it within 30 days.
Up to how much money will the Federal Deposit Insurance Corporation cover an individual account?
What is BancVue?
an electronic bank statement
a banking company
a list of banks that offer rewards checking accounts