46. Which of the following is a disadvantage of using a cashier’s check for remittance?
a) Higher transaction fees compared to other methods
b) Longer processing time compared to other methods
c) Limited amount that can be remitted per transaction
d) Higher risk of loss or theft compared to other methods
47. True or False: Money orders can be purchased using a traveler’s check.
48. Which of the following statements is true about the processing time for a demand draft?
a) It is typically longer for international drafts compared to domestic drafts
b) It is typically longer for drafts initiated in person at a bank branch compared to online drafts
c) It is typically shorter for drafts initiated in person at a bank branch compared to online drafts
d) It is the same regardless of the amount being remitted or the distance between the sender and recipient
49. Which of the following is a reason why demand drafts are commonly used for international transactions?
a) They have a lower transaction fee compared to other methods
b) They can be easily cancelled or reissued if lost or stolen
c) They require the recipient’s bank account details, ensuring secure delivery of funds
d) They have a faster processing time compared to other methods
50. True or False: All banking methods of remittance are equally secure.
