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Is it possible to overdraw a checking account using a debit card?
Wiki User
∙ 13y ago
Yes a lot of people tend to overdraw their checking account because they do not know how to balance their checkbook.
Wiki User
∙ 13y ago
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Are there any fees on the debit card?
Not usually. You can only use a debit card IF there are already sufficient funds in the linked bank account to complete the transaction. Debit cards are usually linked to savings accounts (rather than a current account). You cannot overdraw on a savings account - therefore there are no fees incurred.
What is a DDA debit from a checking account?
A "debit" is a subtraction and "DDA" means checking account. You should contact your bank directly for information about exactly WHY your account was debited, but here are some possible reasons:- You requested a transfer to another account from your checking account, and a DDA debit form was used to complete the transfer- You are overdrafted on another account or owe the bank money and they have recollected their loss by debiting your checking account- You deposited checks and totaled them wrong on the deposit slip, so the bank has made an adjustment to reflect the correct total- You are being charged for another reason, such as a returned check
Does debit mean taking out subtracting from a checking account?
18,000
Is it possible to establish credit with debit cards with the MasterCard or Visa logo if you choose the credit option when you make purchases with them?
No your debit card is linked to a checking or savings account which is not on your credit history.
What account is credited when a debit card is used to pay cash on account?
It is your checking account , but it is debited, not credited.
What is a debit to your checking account?
A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account
What is a debit and how do you get one?
A debit is what occurs when you reduce a credit balance in a liability account such as a checking account. A debit can occur using a debit card, endorsed check, ATM withdrawl or withdrawl for the bank teller.
What does automatically withdraws the amount of a purchase from the consumers checking account?
debit card
What type of banking service is directly linked to a checking account?
debit card
What are the differences between cash and debit cards?
They are one in the same with the exception that with cash you have the money in hand. Debit is a card that is linked to your checking account and you debit your money from your account but it is the same as cash in a store.
Where can debit cards be used?
Debit cards can be used many places. A debit card is basically an electronic form of a check. When one deposits money into his/her checking account, this increases the amount in that account. In order to purchases goods and/or services, the debit card may be used. This will decrease the amount in that checking account. Most places that accept credit cards as a form of payment, will accept debit cards as well. If not, the debit card may be used at an ATM to retrieve cash.
Where is the account number on a bank card?
If this is in reference to a debit card, the checking account number is not found on the card, for obvious reasons.
