Payment Choices

Cash

Credit

Direct Debit

Cheque

Lay-by

Book-up

Electronic Funds

supply of money now in return for the promise of paying it back later (in full or monthly payments)

cashless

Debit Card

EFTPOS

BPAY

convenient for online and telephone purchases

easy to build up debt and overspend

notes and coins (money) issued by the federal government

used to pay for inexpensive items

rarely used for expensive items

electronically using your own money

no interest

spend up to your account balance

electronic funds transfer at point of sale

money transferred from consumer's account to business' account

receipts kept for checking against account statements

internet or phone to transfer funs from your cheque, savings or credit card account to the business' account

internet or phone banking

schedule payments from nominated bank account

bank automatically withdrawls funds from your bank account and electronically transfers funds to the business

convenient- won't forget to pay an account

click to edit

written communication ordering your financial institution, to pay a person a specific amount of money

chequebook

non blank spaces should be left before or after the amount