Using Debit Card to Pay for Groceries: Where Does the Money Come From?

Where does the money come from when you use your debit card to pay for groceries?

Because a checking or a savings account is employed to deduct the payments.

Final Answer:

When you use a debit card to pay for groceries, the money comes from your checking account.

Explanation:

When you use your debit card to pay for your groceries at the checkout counter, the money for this purchase comes from your checking account. A debit card is linked to your checking account, and when you make a purchase, the financial institution immediately deducts the cost from your account. This means that the money is taken directly from the balance in your checking account to cover the purchase.

← How many hours does sophia need to work to reach her financial goal How to calculate degree of operating leverage for your business →