Everytime I'm at the gas station and they ask me "Debit or ATM?", I always wonder what they mean by that. So if you know, can you please tell me?? Thanks.
2006-08-12 15:26:02 · 10 answers · asked by Anonymous in Business & Finance ➔ Credit
Nothing.
Debit and ATM, you use your PIN number. The money gets deducted immediately from your account.
Credit, you just put in your zip code (at a gas station) or you sign the receipt. The money comes out a few days later.
When you use credit at a gas pump, $1 is held on your account now, then the full amount comes out a few days later.
2006-08-12 15:29:30 · answer #1 · answered by Anonymous · 1⤊ 0⤋
From a mechanical standpoint, the ATM option would be a PIN based transaction not requiring a signature. The Debit option would be like a credit card transaction where the consumer would just sign the slip.
From the whole sense of how bank accounts work, your transaction is Debited no matter what. In the eyes of the bank, your account is a liability to them and any positive balance is a normal credit balance.
As you take money out, in order to lessen or remove a credit balance you need to debit the account. So, from the big picture perspective, there isn't a bit of difference.
2006-08-12 19:34:15 · answer #2 · answered by Jesse 4 · 0⤊ 0⤋
Debit and ATM are just about the samething. Are you sure that it doesn't say debit and credit. Credit you have to sign for and debit you use your pin number. A debit goes out of your account right away and a credit might take a little longer.
2006-08-12 16:29:09 · answer #3 · answered by The one and only 3 · 0⤊ 0⤋
If you choose debit, they can charge you a fee, just like using a non-affiliated ATM machine. Always say 'credit' and sign the receipt. You won't be charged a fee then. Some stores charge the fee and some don't.
2006-08-12 16:33:25 · answer #4 · answered by normobrian 6 · 0⤊ 0⤋
Debit runs through the MasterCard system, and you are verifed by your signature. ATM runs through whichever ATM system the machine/gas station, etc provides like NYCE, Cirrus, etc. and is verifed through your pin number only. Both effect your account the same way. Be careful, because often times you are charged a fee for processing your transaction one way, but not the other.
2006-08-12 15:44:52 · answer #5 · answered by ShouldBeWorking 6 · 0⤊ 1⤋
Debit is the card that goes in the ATM machine.
2006-08-12 15:31:24 · answer #6 · answered by amglo1 4 · 1⤊ 0⤋
Debit cards can be charged just like credit cards, with no requirement for entering a PIN code. ATM cards can't; you need to punch in a PIN code.
2006-08-12 15:30:18 · answer #7 · answered by NC 7 · 1⤊ 0⤋
ATM is the automatic teller machine and money comes out of it. If you use the debit card you can purchase stuff with the same card andthe money comes out of your account instead. Same card though.
2006-08-12 15:30:46 · answer #8 · answered by Ricky 6 · 2⤊ 0⤋
they usually ask debit or credit???!!!
2006-08-12 15:31:06 · answer #9 · answered by graygirl 2 · 1⤊ 0⤋
.
2006-08-12 16:02:33 · answer #10 · answered by Credit Expert 5 · 0⤊ 2⤋