BANKING AFFAIRS

Detailed explanation-1: -When you use a debit card, you give your bank permission to immediately remove money from your bank account. You can replace a lost unused gift card by requesting a replacement card from the same business. Credit unions and banks provide the same types of financial services.

Detailed explanation-2: -What is the difference between a checking account debit card and a gift card? When a debit card is used to make a purchase, money is deducted from person’s bank account.-A gift card is not linked to a bank account and is preloaded with a set amount of funds. use each of the following types of financial services?

Detailed explanation-3: -Checking accounts are better for regular transactions such as purchases, bill payments and ATM withdrawals. They typically earn less interest-or none. Savings accounts are better for storing money. Your funds typically earn more interest.

Detailed explanation-4: -Using a credit card provides an extra layer of protection against fraud and makes getting a refund easier. Certain protections are extended to both debit and credit card transactions under federal law, but most credit cards take these protections a step further by offering their own form of zero-fraud liability.