Different Ways to Pay:

What is the definition of cash ?
This mainly includes notes and coins of different amounts.
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What is the definition of debit card ?
This is a card which is issued by banks which is used to purchase goods and services with the payment that is taken in directly from the users current account.
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What is the definition of credit card ?
This is a card that is issued by financial institutions as it allows goods and services to be purchased without payment delayed.
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What is the definition of cheque ?
A written document that instructs the bank to make a payment from one person's bank account to another.
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What is the definition of electronic transfer ?
This is when financial payments are being transferred electronically via one bank to another.
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What is the definition of direct debit ?
This is an agreement made by an owner of the bank account and for their bank to allow a third party to withdraw the money from their account via certain extent.
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What is the definition of standing order ?
This is an agreement by the owner of the bank account and for their bank to allow a third party to withdraw with a fixed sum of money from their account via certain extent.
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What is the definition of pre - paid card ?
A card that has money which has been transferred onto it, payments are made until all the money has been used.
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What is the definition of contactless card ?
This is a card that obtains technology which enables it to be touched by a contactless terminal and funds to be withdrawn.
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What is the definition of charge card ?
This is issued by finance type of institutions to enable customers in order to delay payment for a certain period as the balance would need to be paid once the full statement has been received.
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What is the definition of store card ?
This is similar to a credit card but it can be used for only certain stores. The owner may need to use the card in order to buy items form that store on credit.
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What is the definition of mobile banking ?
The ability to be able to complete banking transactions via mobile devices and internet connected computers.
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What is the definition of banker's automated clearing service ?
This is a system which enables the transfer from one bank account to another, known as BACS.
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What is the definition of clearing house automated payment systems ?
This is a system which enables the transfer from one bank account to another, known as CHAPS.
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Card 2

Front

What is the definition of debit card ?

Back

This is a card which is issued by banks which is used to purchase goods and services with the payment that is taken in directly from the users current account.

Card 3

Front

What is the definition of credit card ?

Back

Preview of the front of card 3

Card 4

Front

What is the definition of cheque ?

Back

Preview of the front of card 4

Card 5

Front

What is the definition of electronic transfer ?

Back

Preview of the front of card 5
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