What is a debit card and how does it work?

What is the function of a debit card?

What is the main difference between a debit card and a credit card?

Answer:

Answer is A Debit Card

Explanation:

A debit card is a card that deducts money directly from a consumer's checking account when it is used for payment. Unlike a credit card, which allows the consumer to borrow money up to a certain limit, a debit card only allows the consumer to spend money that is already in their account.

When a debit card is used for a purchase, the amount spent is immediately deducted from the available balance in the checking account. This provides a convenient way to make purchases without carrying cash, while also ensuring that the consumer does not spend more money than they have available.

Debit cards are commonly used for everyday transactions such as shopping, paying bills, and withdrawing cash from ATMs. They are also often used for online purchases and can be linked to mobile payment apps for added convenience.

Overall, a debit card offers a secure and efficient way to manage personal finances and make payments without the risk of accumulating debt.