ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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deducted immediately from your checking account
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deducted from your credit card balance
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added to your credit card balance
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put on your credit card bill as a cash advance
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Detailed explanation-1: -Debit cards take money out of your checking account immediately. Debit cards let you get cash quickly. You can use your debit card at an automated teller machine, or ATM, to get money from your checking account. You also can get cash back when you use a debit card to buy something at a store.
Detailed explanation-2: -When your bank account is debited, money is taken out of the account. The opposite of a debit is a credit, in which case money is added to your account. Your account is debited in many instances.
Detailed explanation-3: -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-4: -A debit card is a plastic card that deducts money from a checking account almost immediately to pay for purchases. The debit card is presented at the time of purchase. When a debit card is used, the amount of the purchase is quickly deducted from the customer’s checking account and paid to the merchant.