Methods of Payment

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Of course, the balloon will then have to be paid for. It is unlikely that, with such a large purchase, cash will be used.

You might write a cheque or use a debit or credit card. Click on each of the pictures below to see a definition.

[[Media:GDAB3Exam cheque def.jpg|Gdab3examcheque.jpg]]

[[Media:debit card.jpg|Gdab un3 mod 2 debit cards.jpg]]

[[Media:credit card.jpg|Gdab un3 mod 2 credit cards.gif]]

Cameron Balloons may let you pay for the balloon in instalments instead of all at once. You might then write an instruction to your bank to pay the amount in regular instalments. (This method of payment can also be used to pay other bills, such as gas, electricity and telephone.)

You could, for example, tell your bank to pay a set amount each month to a business (a standing order) or give the business the right to take up to a set amount from your account regularly (a direct debit).

It is important that both business and customer choose the most appropriate method of payment for the transaction.

Continue to: Business Costs