ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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savings account
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checking account
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Either A or B
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None of the above
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Detailed explanation-1: -A debit card is a type of payment card that conveniently facilitates secure and easy payments both online and in-person. Debit cards differ from credit cards in that the money attached to the debit card comes directly out of a checking account rather than being borrowed and paid later.
Detailed explanation-2: -Checking accounts come with a debit card. The debit card you receive allows you to withdraw money from your checking account. Savings accounts don’t provide a debit card, though you may be able to use one to access funds if your account is linked to a checking account at the same bank.
Detailed explanation-3: -The primary benefit of checking accounts is the ability to store money you intend on spending, either through debit card transactions, checks, or cash withdrawals. However, the downside is they typically don’t pay interest. Typical checking account features include: Debit card.