BANKING AFFAIRS

Detailed explanation-1: -A debit card is linked to a checking (or savings) account and can be used anywhere credit cards are permitted. They can be used to do routine banking at financial institutions, make cash withdrawals from an automatic teller machine (ATM), as well as purchases at retailers in-store and online.

Detailed explanation-2: -A debit card is a payment card that is linked to the funds in your account and can be used to withdraw or deposit cash at ATMs and be used at both in-person and online retailers. When you use your debit card to pay for goods or services, those funds will be deducted from your checking account balance.

Detailed explanation-3: -card-hold-er name Refers to the person who owns a credit or debit card. The cardholder name is the name of the owner, printed on the front of the card.

Detailed explanation-4: -Ans: The debit cards can be used to withdraw cash from an ATM, purchase of goods and services at points of sale (PoS) terminals or e-commerce (online purchase).

Detailed explanation-5: -Debit cards allow you to spend money by drawing on funds you have deposited at the bank. Credit cards allow you to borrow money from the card issuer up to a certain limit to purchase items or withdraw cash. You probably have at least one credit card and one debit card in your wallet.