Debit Card
A debit card is a payment card that deducts funds directly from a consumer's checking account to pay for purchases.
Example #1
When you use a debit card to buy groceries, the amount is immediately taken from your bank account to cover the cost.
Example #2
Paying for a movie ticket online with a debit card results in the ticket price being subtracted from your available balance.
Misuse
Misusing a debit card can lead to unauthorized transactions if the card details are stolen. It's crucial to safeguard your debit card information to prevent fraud and unauthorized charges.
Benefits
One of the benefits of using a debit card is that it helps you manage your spending by limiting your purchases to the money you have in your account.
Conclusion
Understanding how to safely use and protect your debit card is essential for safeguarding your finances and preventing unauthorized transactions. By monitoring your transactions regularly and promptly reporting any suspicious activity, you can protect your funds and maintain control over your spending.