When using my bank ATM card at a store, I'm given the options of "debit" or "credit". What's the difference?
2007-09-03 15:09:28 · 9 answers · asked by corpuslobo 1 in Business & Finance ➔ Personal Finance
credit means that the transaction is processed through Visa or Mastercard. This gives you more protection if there is a dispute, but you will usually have to sign. If you choose debit, you will have to enter your pin and the money will be taken directly from your bank account. However many stores will let you get cash back if you use the debit option.
2007-09-03 15:19:57 · answer #1 · answered by VATreasures 6 · 3⤊ 1⤋
You'll have to ask your financial institution. For me, if I use my Visa Check Card at a store, it can be rung up as debit or credit and it still comes directly from my checking account. However, there may be some banks where you could get a credit card bill if you use the credit option.
2007-09-03 15:21:05 · answer #2 · answered by Amber D 3 · 0⤊ 2⤋
when using debit you are required to type in a "pin number" this option to does not require a signature(usually four digits picked by your bank, you can change it once the pin is established.) credit is were they take the money out of your checking account without the "pin number" and does require a signature(depending on the store and the amount of the transaction) i hope this has helped out
2007-09-03 15:21:51 · answer #3 · answered by nela jane and husband 2 · 2⤊ 0⤋
credit is when you tell the store person to send it to your acount and the bank will pay for it intill you get your bill at the end of the mounth and debit is when you have to buy something it just suckes the money right out of the bank and doesnt tell you till the end of the mounth so that is why you want to keep all of your recets so you dont have to worry about it when you get your bill
2007-09-03 15:28:04 · answer #4 · answered by Anonymous · 1⤊ 1⤋
Debit sucks the $$$$ straight out of your checking ,
Credit means you don't have $$$$ , so it is going on a charge / loan that will be billed to you and You get to give them extra $$$$ inf the form of interest .
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2007-09-03 15:46:08 · answer #5 · answered by kate 7 · 0⤊ 3⤋
Debit (comes out of your account).
Credit (like credit card)
2007-09-03 15:17:30 · answer #6 · answered by Anonymous · 0⤊ 4⤋
Debit takes money out of an account that you put in there and has no interest. Credit is borrowing money.
2007-09-03 15:14:29 · answer #7 · answered by ? 5 · 1⤊ 4⤋
Debits go on the left, credits go on the right
2007-09-03 15:18:20 · answer #8 · answered by Weezie 1 · 1⤊ 5⤋
Credit begins with the letter "C".
Debit begins with the letter "D".
2007-09-03 15:45:43 · answer #9 · answered by Anonymous · 2⤊ 7⤋