What is a debit card?
A debit card, or check card is an ATM card plus. It can do all an ATM card can do and more. It looks like a credit card, and can be used as an ATM card, but can also be used to buys things anywhere credit cards are accepted. The amount you can spend is limited by the amount in your bank account. When you use it to buy something, the store contacts your bank electronically and automatically deducts the purchase amount from your account. Debit cards are accepted everywhere that credit cards are accepted, which makes them much more convenient than regular ATM cards.
| Debit cards look like credit cards but act like cash or checks. |
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Depending on the type of debit card you have and the store you're in, you make a purchase with your debit card "on-line" by either punching in your Personal Identification Number (PIN), or password, on a keypad, or "off-line" by signing a receipt as you would with credit card purchases. If the purchase resembles a credit card transaction, your account usually is debited within two to three days, rather than immediately.
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