BANKING AFFAIRS

Detailed explanation-1: -In other words, when you spend money using a debit card, you lose cash immediately. Your money is deducted immediately from your bank account. The credit card is different.

Detailed explanation-2: -Debit cards let you buy things without carrying cash. You can use your debit card in most stores to pay for something. You just swipe the card and enter your PIN number on a key pad. Debit cards take money out of your checking account immediately.

Detailed explanation-3: -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-4: -How it works. When you shop with your debit card or ATM card, the transaction amount is immediately deducted from your bank account. You can’t spend more than what’s in your account. Unlike ATM cards, debit cards have a VISA or MasterCard branding.

Detailed explanation-5: -Generally debit card transactions post within 1 to 3 days of when you make the purchase. However, the timing of when a debit card transaction will post can vary from the very same day to several weeks later.