Electronic Transactions and Digital Currency — Quiz
Question 6 • Personal Finance
Read a description of traditional banking. Banks follow government rules to protect their customers' money. They issue separate cards for checking and savings accounts to help individuals manage funds and add security. Banks also handle foreign currency exchanges for international travel and transactions. How is traditional banking different from digital wallets?
Answer
A
Digital wallets require internet access, while traditional banking does not.
B
Digital wallets can store multiple card information, while traditional banks do not.
C
Digital wallets are regulated, whereas traditional are not.
D
Traditional banks only process transactions in local currency, but digital wallets do not.