Debit Cards Flashcards
Where is this card linked to ?
It is linked to your bank account.
What does a debit card do ?
It’s gives you direct access to your money in your transaction account, home or abroad
How do payments come off your bank account ?
They come off immediately
What does a debit card do in terms of budget ?
It ensures that you do not overspend.
Where else may you draw cash from, other than an ATM or BANK ?
you may draw cash from a store, but only when you make a purchase.
Why is paying with your card secure ?
Because all transactions are secured by dual authorization.
Does the bank charge you on your purchases ?
Yes.
Why is it more convenient to use cash rather than cheques ?
Convince - to save on trips to the ATM.
Better security - the banks (visa) monitor your accounts 24 hrs a day.
Better money management - debit transactions are automatically deducted from your account.
