Test Your Knowledge About Bank Payment Processing Services! Trivia Quiz

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| By Catherine Halcomb
Catherine Halcomb
Community Contributor
Quizzes Created: 1443 | Total Attempts: 6,686,485
| Attempts: 154
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  • 1/7 Questions

    Please select the following attributes which a merchant can change while performing Account Servicing.

    • Legal Name Change
    • Address Change
    • Phone number Change
    • All of the above
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About This Quiz

Test Your Knowledge about Bank Payment Processing Services using this trivia quiz. Banks have different ways of making payments, and one of the major characteristics is that they are secure, and every payment made is recorded appropriately. Take up this quiz and get to see just how much you know as per your level at work. All the best!

Test Your Knowledge About Bank Payment Processing Services! Trivia Quiz - Quiz

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  • 2. 

    The Account servicing update on Merchant Interactive reflects on real-time basis on our system of records.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The statement suggests that the Account servicing update on Merchant Interactive is reflected in real-time on their system of records. This means that any changes or updates made to the account will be immediately visible and updated in their system. Therefore, the statement is true.

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  • 3. 

    Bank changes and Account Services can be performed on the Merchant website under which dashboard?

    • Disputes Dashboard

    • Payments Dashboard

    • Account Services Dashboard

    Correct Answer
    A. Account Services Dashboard
    Explanation
    Bank changes and Account Services can be performed on the Merchant website under the Account Services Dashboard. This dashboard is specifically designed to handle tasks related to bank changes and account services. It provides the necessary tools and features for merchants to make changes to their banking information and manage various account services efficiently. The Disputes Dashboard is focused on handling disputes, while the Payments Dashboard is dedicated to managing payment-related tasks. Therefore, the correct dashboard for bank changes and account services is the Account Services Dashboard.

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  • 4. 

    Can a merchant perform the bank changes on multiple accounts on Merchant Interactive?

    • Yes

    • No

    Correct Answer
    A. Yes
    Explanation
    On Merchant Interactive, a merchant is able to perform bank changes on multiple accounts. This means that they have the capability to make changes to the bank accounts associated with multiple accounts simultaneously.

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  • 5. 

    Bank Changes can be processed on Merchant Interactive without verifying the existing bank information

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement is false because it is important to verify the existing bank information when processing bank changes on Merchant Interactive. Without verifying the existing bank information, there is a risk of making errors or processing changes incorrectly, which can lead to financial and operational issues for both the bank and the merchant. It is crucial to ensure the accuracy and validity of the bank information before making any changes to avoid any potential problems.

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  • 6. 

    Please select the following information that is required for creating a user ID that allows a Merchant to make account changes & bank changes - 

    • Merchant ID

    • Postal Code

    • Bank Information

    • All of the above

    Correct Answer
    A. All of the above
    Explanation
    All of the mentioned information is required for creating a user ID that allows a Merchant to make account changes and bank changes. The Merchant ID is necessary for identification purposes, the Postal Code helps to verify the location of the Merchant, and the Bank Information is needed to link the user ID with the Merchant's bank account for making changes. Therefore, all of the above information is necessary to create the user ID.

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  • 7. 

    OTC (One Time Code) consists of how many digits?

    • 5

    • 6

    • 7

    Correct Answer
    A. 6
    Explanation
    OTC (One Time Code) consists of 6 digits. This means that the code is made up of a sequence of 6 numerical digits. The length of the code is important for security purposes, as a longer code is generally harder to guess or crack.

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Quiz Review Timeline (Updated): Mar 20, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 20, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Mar 31, 2019
    Quiz Created by
    Catherine Halcomb
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