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Answered 2009-04-16 09:15:14

Yes. The debit card is usually linked to an account and the moment the transaction is approved at the POS terminal the amount gets debited from our account. POS: Point of Sales. (the place where you swipe your debit card)

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A checking account is an account where cash can be quickly withdrawn with the use of checks or debit cards. A current account is a financial asset account in accounting in which assets can be easily made liquid or have a turnover period of less than a year.


No a minor can't have a debit card because in order to have a debit card, he/she has to have a valid checking account. How can a minor have a checking account when banks don't let you open a checking account until you are 18?


An arrangement that authorizes your monthly loan payments to be deducted automatically from your bank account (usually a checking account) on a given date each month.


An ATM withdrawal or a cheque withdrawal or a swipe at the grocery store etc are all debits on the checking account. Any transaction, that reduces the money in our account is a debit.


The easiest way is to set up an automatic debit against your paycheck or checking account at your bank, with a specified amount being automatically taken from your paycheck or checking account and deposited into a savings account.


No. It cannot be done by the bank. They can add the late payment fee & other charges to your credit card account but cannot automatically deduct amounts from your checking account - unless, you have given them standing instructions to debit monthly card payments automatically from your 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A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account.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.


[Debit] Cash account xxxx [Credit] Bank account xxxx


[Debit] Cash account xxxx [Credit] Bank account xxxx


A checking account gives you access to your money from an atm, and various grocery store checkouts. Unlike a savings account a checking account is meant for quick withdrawals, you can access money from your checking account using a debit card and pay for items any where a debit card is accepted.


A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account.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.


It is your checking account , but it is debited, not credited.


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.


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.


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


Yes, you may have a debit card at any age, assuming the checking account is in that persons name.


Direct debit is a type of payment method which allows bank customers to authorize a set amount to be withdrawn from their account every month.


Yes a lot of people tend to overdraw their checking account because they do not know how to balance their checkbook.


Yes. The debit card is usually linked to an account and the moment the transaction is approved at the POS terminal the amount gets debited from our account. POS: Point of Sales. (the place where you swipe your debit card)


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


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.


D stands for Debit on an ATM statement. 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.



First of all, you cannot get a VISA debit card without having a checking (Or savings) account. A debit card does not exist stand-alone without a linked bank account. So, if your VISA debit card is linked to your bank account, then you can use it to pay for a loan. For a loan provider, the type of bank account you have does not really matter. All that matters is whether you'll repay the loan.



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