A card issued by a bank allowing the
holder to transfer money electronically to another bank account when making a
purchase. A payment card that deducts money
directly from a consumer’s checking account to pay for a purchase. Debit cards
eliminate the need to carry cash or physical checks to make purchases. In
addition, debit cards, also called check cards.
Advantage of Debit card:
1. Don’t have to carry cash around with
.
2. If the card is stolen, the thief
cannot get money without PIN.
3. Using it to pay at some retail shops.
4. Keeps money safe.
