2007-12-26 10:34:06 · 6 answers · asked by openupfresh 1 in Business & Finance ➔ Credit
Since it is like a credit card, it doesn't "bounce." It can get denied, which means you would know as soon as you are trying to use it. If you are close to your limit and a debit would make you go below a zero balance, then you could find that your purchase is approved because of "overdraft protection"...which is a temporary bank loan that you have to pay back within a specific time period. Usually ten days.
Hope this helps.
2007-12-26 10:38:04 · answer #1 · answered by E.T. Barton 5 · 0⤊ 2⤋
By bounce, I take it you mean that your card is rejected when you try to use it. The answer is no, debit cards typically are not designed to bounce. Your debit card will usually reflect in real time the balance in your bank account. If your balance falls to zero, then your bank's policies will kick in. Better call them or read their fine print just to be sure. They vary in their practices, but most banks like you to 'overdraw' on your debit card because they have written into the fine print that they will charge you $25-$35 every time they have to cover a debit for you on an over drawn account. You will rack up this fee for every overdrawn charge, not just once a day. So the answer is that you need to pay close attention to the balance in your account and stop using it when it gets close to zero to make sure you don't get nailed with fees. Your card typically won't reject at the point of sale because the bank is happy to cover it and fine you for the 'service'. Good luck!
2007-12-26 10:43:28 · answer #2 · answered by bertha 3 · 2⤊ 0⤋
People mistakenly believe that since the funds come from your bank account, if you don't have sufficient funds in your account, the debit transaction will be denied. That is NOT the case.
Debit transactions are not necessarily immediate. There is normally at least a one day delay in posting to your account. While debit transactions normally go and don't return to the business accepting the card, you will get overdraft fees if you don't have enough in your account to cover the transaction.
You have to keep a check register which includes posting all your debit transactions. And you need to reconcile that check register against you monthly bank statement.
2007-12-26 11:20:01 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
This depends on your bank/account/card settings set up by Visa. Some banks have overdraft which means you can draw over your balance. Some businesses will let you draw over your balance some won't. I would ask a personal banker at the bank about it or maybe give visa or your debit card provider a call and see if they know.
2007-12-28 10:32:56 · answer #4 · answered by JosefStalinsTroll 6 · 0⤊ 0⤋
If i have no money in my account to cover it will deny the use of the card. Kinda nice in a way though then you know you cant spend or overdraft yourself......
Check with your bank on the details
2007-12-27 11:48:41 · answer #5 · answered by shandy1212 2 · 0⤊ 0⤋
If your over the limit. It works same as any other credit card.
2007-12-26 10:38:32 · answer #6 · answered by Anonymous · 0⤊ 1⤋