ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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is a convenient way to pay bills if you do not have a checking account.
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is a check issued by a bank against its own funds.
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is a record for keeping track of checks written and deposits made.
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is a bank card that allows the account holder to make purchases and to withdraw cash from an account at an ATM.
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Detailed explanation-1: -A debit card lets you spend money from your checking account without writing a check. When you pay with a debit card, the money comes out of your checking account immediately.
Detailed explanation-2: -A Debit Card is a plastic currency or plastic money. You can use it to buy things when you don’t have cash. Typically, the banks issue a Debit Card to Savings Account holders, and it is linked to your account. All transactions made through your Debit Card are reflected in your bank account statement.
Detailed explanation-3: -However, what we must know is that they are two different cards. An ATM card is a PIN-based card, used to transact in ATMs only. While a Debit Card, on the other hand, is a much more multi-functional card. They are accepted for transacting at a lot of places like stores, restaurants, online in addition to ATM.
Detailed explanation-4: -To easily withdraw from or deposit cash to your checking account, you can use your debit card at an ATM. The first thing you need to do is insert your debit card into the ATM.