0
It's not that they make money; rather, they save money versus other forms of payment. Per Answers.com, "[Using a debit card] removes the need for bank clients to go to the bank to remove cash from their account as they can now just go to an ATM or pay electronically at merchant locations. This type of card, as a form of payment, also removes the need for checks as the debit card immediately transfers money from the client's account to the business account."
Add your answer:
Earn +20 pts
What is the difference in a debit car and credit card?
a debit card is used to withdraw money from your personal account while a credit card is money that you use from the banks account that does not belong to you and you to pay it back.
Is transferring money a debit or a credit?
technically its probably a debit transaction since debit is when the money is directly removed form your account and deposited to who ever needs to be paid. by the card and bank companies
Can you get a debit card at 12?
You can get a debit card at 12 in the UK, but only in certain banks. I am not sure about America.
How old do you have to be to get a debit card?
You have to be 11 to have a Debit Account and 18 to use your card online. but some banks dont let you get a debit card until you are 18
Do banks offer teen debit cards?
Yes, banks do offer teen debit cards. However, these cards are to be prepaid debit cards. A debit card is a debit card, depending on your age you can go with your parents to sign up for one and set certain limitations to the account. That way you have your own card, it can prevent you from over-drafting, and parents can link accounts with students and deposit money in for them at any given time.
What is the difference in a debit car and credit card?
a debit card is used to withdraw money from your personal account while a credit card is money that you use from the banks account that does not belong to you and you to pay it back.
What are functions of debit and credit cards?
Credit cards are issued to customers of companies who offer lines of credit. The card can be used to make purchases or payments in stores and online. Debit cards on the other hand are issued by banks or prepaid debit card companies. They have the same role as a credit card allowing consumers to make payments or purchases in stores and online, but can also be used to withdrawal money from an ATM.
What is difference between credit card and debit card.?
Charges against a debit card are withdrawn directly from your checking account, it's similar to writing a check. Charges against a credit card are accumulated and you are sent a bill at the end of the month for the money you borrowed with possible fees. with a credit card you are using the banks money. with the debit card you are using your own money.
What companies are credit card providers?
Companies that provide credit cards tend to be banks. In the United Kingdom, for example, Barclays, NatWest and Lloyds banks issue credit cards. These banks also offer debit cards.
Is transferring money a debit or a credit?
technically its probably a debit transaction since debit is when the money is directly removed form your account and deposited to who ever needs to be paid. by the card and bank companies
Can you get a debit card at 12?
You can get a debit card at 12 in the UK, but only in certain banks. I am not sure about America.
Which banks offer debit card accounts?
The majority of banks will offer their customers debit card accounts. These banks include "HSBC", "Bank of America", "Lloyds TSB" and also "Santander".
How old do you have to be to get a debit card?
You have to be 11 to have a Debit Account and 18 to use your card online. but some banks dont let you get a debit card until you are 18
Do banks offer teen debit cards?
Yes, banks do offer teen debit cards. However, these cards are to be prepaid debit cards. A debit card is a debit card, depending on your age you can go with your parents to sign up for one and set certain limitations to the account. That way you have your own card, it can prevent you from over-drafting, and parents can link accounts with students and deposit money in for them at any given time.
Can you take money from your debit card?
Yes as long as you have the money in the account connected to the debit card.
Is my bank to blame for letting funds go out of my account on a cancelled debit card?
Yes, if the money was withdrawn using the cancelled debit card after you cancelled the card. No, if the money was withdrawn to cover a check written against the same account as the cancelled debit card, but deposited after the debit card was cancelled.Given all the nefarious crap banks wedge into the fine print, it wouldn't surprise me if they had some way of getting out of taking responsibility.
What is a prepaid debit card?
A prepaid debit card is separate from the traditional debit cards provided by banks and also very different from a credit card. You can get a prepaid debit card from several outlets (Netspend.com is a good one I've used) and all the money on the card is put onto it by the card holder before they are able to spend anything. They work very much like debit cards issued by banks, except there are no interest fees, and no overdraft charges. You can use a prepaid debit card for shopping online, renting a car, paying bills, and even renting a hotel. Additioanlly, you can transfer money from standard bank accounts to the card, get money directly deposited to the card, and you can use it through PayPal as well. Check out the link below for more uses of the card, and how to sign up for one.)
