Electronic Banking Flashcards
1
Q
What does it involve?
A
- Internet
- Cellphones
- Automated teller machines (ATM)
- Debit Cards
- Credit Cards
- EFT for financial transactions
2
Q
What is the latest development in the history of money?
A
Electronic banking
3
Q
Name a benefit of electronic banking?
A
You can move money around without dealing directly with coins or paper money, or tellers at the bank.
4
Q
Why is electronic banking a safe way to handle money?
A
People do not have to carry cash.
5
Q
Why is electronic banking unsafe?
A
They are vulnerable to fraud. You still need to be careful when you use electronic banking.
