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Debit Card

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A debit card is a plastic card that resembles a credit card. Using a debit card a customer can withdraw funds on deposit in the customer's account using an ATM (automated teller machine.) A debit card draws directly on funds in the consumer's bank account (i.e. checking account). Most businesses that accept credit cards will also accept a debit card. A debit card transaction pays the seller of goods or services by withdrawing funds already on deposit in the buyer's bank account, as opposed to a credit card transaction where funds are loaned to the buyer by the card issuer. A debit card usually requires the owner to supply PIN number or a signature. As a result, a debit card can be considered a relatively safe alternative to cash.



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