Police Bank - Basic Product Knowledge And Selling Skills

True

False

A standard type of account number required for all transfers to European countries

A standard type of account number required for all transfers to the USA

A standard type of account number required for all transfers to China

All of the above

Cash Passport card

Draft, telegraphic transfer or Money in Minutes Money Transfer

Travellers cheques

Personal cheques

Transfer of funds overseas to be paid out in cash

Cheque in a foreign currency

Transfer of funds overseas to be credited to a bank account

Travel card in a foreign currency

It is a secure way to send money

It is a quick way to send money (funds are normally credited within 2-3 business days)

There are no age or credit restrictions on who can send a transfer

All of the above

The currency of the overseas beneficiary (a choice of 130 currencies is available)

The currency of the overseas beneficiary (a choice of 50 currencies is available)

The currency of the overseas beneficiary (a choice of 10 currencies is available)

Funds should always be sent in Australian Dollars

The sender’s name and street address

The beneficiary’s name and street address

The sender’s membership number

All of the above

The sender’s name, ID details and address

The country that the receiver is in

The receivers name and address

All of the above

A transfer of funds overseas to be paid out in cash

A cheque in a foreign currency

A transfer of funds overseas to be credited to a bank account

A travel card in a foreign currency

Drafts only

Drafts and telegraphic transfers

Telegraphic transfers only

Neither drafts nor telegraphic transfers

Inward telegraphic transfer

Cheque in foreign currency to be converted into AUD

Both of the above

Neither of the above

To provide an additional member service

To earn additional fee income

To ensure we maximize our “share-of-wallet” from each member

All of the above

All members

Only members aged over 18

Only members with over $10,000 in deposits

Only members who have been with us for over 5 years

A member overseas who needs an emergency cash transfer because they have lost their credit card or cash

Members from a migrant community who wish to send money overseas

Members who wish to buy products online from overseas

All of the above

The beneficiary does not have a bank account

The sender doesn’t care what exchange rate is used

The funds are required quickly

The sender is not an Australian citizen

The beneficiary does not have a bank account

The member wants to pay a lower fee

The funds are required urgently

All of the above

The receiver does not have a bank account

The receiver requires cash pick up

No uplifting / receiver fee

All of the above

Visit a branch

Through internet banking via secure email

Both A & B

Exchange rates constantly move and TV rates are indicative only

The rates on TV are basically “dealers” rates. The costs of providing the service also has to be factored into the rates we offer (similar to a home loan rate being higher than the official cash rate)

Every financial institution and foreign exchange provider can set its own rates

All of the above

A draft can be enclosed with a Christmas or birthday card

A draft is relatively inexpensive

A draft can be paid directly into their bank account by the overseas beneficiary

All of the above

It enables them to buy goods from overseas and pay the supplier in their own currency

It enables them to defer the payment date for their order

It gives them a bigger credit facility

It reduces the risk of the goods being faulty

They don’t have a credit card

Their credit limit is too low to make the payment

They want to know what exchange rate is going to be used before making the payment

All of the above