debit card?

Question

meaning & definition

Answer 1

debit card is a plastic card which provides an alternative payment method to cash when making purchases. Physically the card is an ISO 7810 card like a credit card; however, its functionality is more similar to writing a cheque as the funds are withdrawn directly from either the cardholder's bank account (often referred to as a cheque card), or from the remaining balance on a gift card.

Depending on the store or merchant, the customer may swipe or insert their card into the terminal, or they may hand it to the merchant who will do so. The transaction is authorized and processed and the customer verifies the transaction either by entering a PIN or, occasionally, by signing a sales receipt.

In some countries the debit card is multipurpose, acting as the ATM card for withdrawing cash and as a cheque guarantee card. Merchants can also offer "cashback"/"cashout" facilities to customers, where a customer can withdraw cash along with their purchase.

The use of debit cards has become wide-spread in many countries and has overtaken the cheque, and in some instances cash transactions by volume. Like credit cards, debit cards are used widely for telephone and Internet purchases. This [citation needed] may cause inconvenient delays at peak shopping times (e.g. the last shopping day before Christmas), caused when the volume of transactions overloads the bank networks.

Answer 2

A debit card is a plastic card which provides an alternative payment method to cash when making purchases.

Basically you can only use the debit for the amount of money that you have in a savings or checking account. If you have no money then of course you can't use the card.

It basically keep you from carrying cash around !

Answer 3

simple, you have money in the bank, you need not keep in pocket,
this is a card shows the your amount in bank, and instead of carrying your money the card helps you intransacting to the extent of money in the bank account(debit balance)
its like a pass book in hand which the entry can be made any time using the card.

Answer 4

With out being long winded.
It is basically a check in a plastic card form that works like a credit card, only it uses the existing money in your checking account.

Answer 5

it's simple. When you buy something with your debit card, your bank account will be charged immediatelly.

Happy Shopping.

;-)

Answer 6

A card which can be operated when you have your own money in your account.Your are the owner.As like operating your savings bank account or current account in ATMs.