.....is similar to a credit card, but unlike a credit card, the money comes directly from the users bank account when performing a transaction.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

____is similar to a credit card, but unlike a credit card, the money comes directly from the user’s bank account when performing a transaction.

A	Debit Card
B	Smart Card
C	Money Card
D	All of the above

Explanation:

Detailed explanation-1: -Credit cards give you access to a line of credit issued by a bank, while debit cards deduct money directly from your bank account.

Detailed explanation-2: -Share: Debit and credit cards are both used to pay for goods or services without paying in cash or writing a check. The difference between the two is where the money to pay for the purchase comes from.

Detailed explanation-3: -A debit card looks like a credit card but works like an electronic check. Why? Because the payment is deducted directly from a checking or savings account.

Detailed explanation-4: -A debit card is a payment card that deducts money directly from a consumer’s checking account when it is used.

There is 1 question to complete.