Benefits to Online Banking for Businesses Quiz

By: Staff

4 Min Quiz

Image: refer to hsw

About This Quiz

Security fears may have perhaps prevented you from switching your business to online banking. But the more you learn about it, the more benefits you will discover. How much do you know about the perks of managing your bank account online?

Which of the following is impossible to do online?

You can transfer funds as well as deposit a check electronically. Many banks allow you to scan or take a picture of a check to deposit it electronically.


When can you access your bank account information online?

Most banks that offer online banking allow customers to access their account information and even conduct transactions 24 hours a day, including holidays. Some transactions may not take effect until the following business day, however.


Which banking method is generally considered to be more environmentally friendly?

Online banking is generally considered greener because it uses less paper. It also cuts down on transportation.


What is an easy way to take care of bills that vary every month?

Setting up an online bill payment where you can plug in a new amount every month is an easy and convenient substitute for traditional checks and snail mail. Automatic bill pay is best for bills that stay the same each month.


What do banks usually allow you to do to prevent yourself from letting an automatic bill payment from going on too long?

To stop an automatic payment from going on too long, banks usually allow you to set up an end-date in addition to sending out e-mail reminders so you don’t forget about the payments.


How can you monitor your bank accounts from different banks together?

QuickBooks allows you to monitor and conduct banking transactions from multiple bank accounts.


Which of the following is an electronic money transfer that happens immediately?

A wire transfer happens immediately, almost in real time. ACH transfers happen overnight, while money orders aren’t electronic money transfers, but more like checks that are prepaid. Many banks allow you conduct a wire or ACH transfer through your online bank account.


In 2011, what did the American Bankers Association find out about most Americans age 55 and older?

The ABA found that the majority of Americans age 55 and older preferred online banking to traditional banking.


Why do some say that online banking is more secure than traditional banking?

Although hackers can intercept your data, secure banking sites encrypt sensitive information, making it difficult to decipher. Traditional banking prints all sensitive information on paper that could be stolen.


What is not a good way to help ensure the security of your sensitive banking information?

You should keep your PIN secret to help protect your sensitive information.


Explore More Quizzes

About HowStuffWorks Play

How much do you know about dinosaurs? What is an octane rating? And how do you use a proper noun? Lucky for you, HowStuffWorks Play is here to help. Our award-winning website offers reliable, easy-to-understand explanations about how the world works. From fun quizzes that bring joy to your day, to compelling photography and fascinating lists, HowStuffWorks Play offers something for everyone. Sometimes we explain how stuff works, other times, we ask you, but we’re always exploring in the name of fun! Because learning is fun, so stick with us!