banking

What is a debit card?

 

What is a debit card?

The Bankrate.com financial term of the day is: "Debit card."

A debit card is a very valuable piece of plastic. It's a kind of key that opens your bank account and removes the money when you buy something. There are direct debit cards that require you to enter a personal identification number, or PIN, at the point of sale to release the purchase amount from your checking account almost immediately. There are also signature-based, or deferred, debit cards that require you to sign your name. With these cards, the money to make the purchase is removed from your account in two or three days.

A debit card is a good choice if you want to go shopping without having to carry around a lot of cash and without the risk of credit card debt.

To find the best checking account, visit the checking and savings section at Bankrate.com.

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Mustang car tops Empire State

The Ford Mustang just turned 50, and both Ford Motor Co. and Mustang owners are celebrating.  ... Read more


Connect with us