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Yes, you do. A debit card is linked to a bank account - so that you can only 'spend' what money is already in the associated account. (ie - you cannot go overdrawn on the card). A credit card is different - it's like a short-term 'loan' that you pay back. You can 'spend' using the card - up to its limit - whether there's any money in your bank account or not.

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Q: Do you need a bank account to have a debit card?
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Continue Learning about Finance

Why do you need to know about financial institutions?

Because you will need to know how to maintain a bank account, make decisions about credit, and use a debit card.


How do banks make money from debit card companies?

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."


My savings account is not the traditional account with a bank book and all It's being accessed online Can I still withdraw money from such?

your savings account comes with a debit card, and you can use this card to withdraw money at an atm. Certain banks can still provide you with a bank book, but you'll still need a debit card to use the machines. If you have one of those online savings accounts, then you'll have to go online to transfer money over to another bank account that you have to take out money.


What to do when ATM card expired?

Contact your bank. If the card has already expired, you will need to use cash so be prepared for that. Your bank will mail you a new debit card. You can also go in to the bank directly and option a new debit card immediately.


How do you know if your debit card still has money on it?

It doesn't exactly have money on it - it simply debits your bank account, so you need to know what your balance (or overdraft) is. If you try to use your debit card in a shop, for example, the checkout will show the sales assistant whether you have enough in your account or not; if not, the purchase will be refused.

Related questions

Do you need a bank account for a prepaid debit card?

Shouldn't do.


Do you need a photo id to get a debit card?

If you already have an account with the Bank you want to get a debit card with then no. You can even create the debit card account online and they send you all the details and the card through the post in less then a week.


Is there an age limit for debit cards?

Theoretically no, although it's rare for a bank to issue a debit card to someone under 16 (in the UK). A debit card doesn't require a credit check, nor does the holder need to be employed in order to get one. A debit card can only be used if there are already funds in the associated bank account. Think of a debit card as 'electronic cash'.


Why do you need to know about financial institutions?

Because you will need to know how to maintain a bank account, make decisions about credit, and use a debit card.


What do you need for online shopping?

A computer (or other internet capable device), a bank account, a credit/debit card and a delivery address !


Do you need a credit or debit card on pay pal or can it just take money out of your account?

Paypal will directly withdraw from bank accounts.


How do banks make money from debit card companies?

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."


What is then Legal age to have a bank account?

You do not need to be a minimum age to open a bank account in Ohio. However, you must be at least 18 years old to manage the account.


How to close a savings bank account?

You need to visit the bank branch where you have the account and submit a request in writing to close the account. You would have to submit your ATM/Debit card and any unused checks before the bank accepts your request. The bank will process the request and pay you the money that is present in the account.


How do you close a bank account in India?

You need to visit the bank branch where you have the account and submit a request in writing to close the account. You would have to submit your ATM/Debit card and any unused checks before the bank accepts your request. The bank will process the request and pay you the money that is present in the account.


What Is The Chase Bank Login And can I Do A Transaction From My Computer?

The Chase Bank Login is the username and password one creates upon registering on the Chase website. One could perform a transaction on the Chase site.


My savings account is not the traditional account with a bank book and all It's being accessed online Can I still withdraw money from such?

your savings account comes with a debit card, and you can use this card to withdraw money at an atm. Certain banks can still provide you with a bank book, but you'll still need a debit card to use the machines. If you have one of those online savings accounts, then you'll have to go online to transfer money over to another bank account that you have to take out money.