Debit Cards

6th Period - Shumate

What is a Debit Card?

A debit card is a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.

What does a debit card do?

Debit cards let you buy things without carrying cash. You can use your debit card in most stores to pay for something.

You swipe the card and enter the pin number on a key pad. Debit cards take money out of your checking account immediately.

Common Problems

Many places will allow you to swipe your cards but it can be easily stolen or cancelled. Some places include:

1. Target

2. Home Depot

3. Jimmy John’s

4. Chevron

5. Big Lots

Threats using a debit card

In person-fraud Online fraud ATM fraud Identity fraud

These are just a few of the risk you take when using a debit card.

How to avoid debit card scams

Because debit cards pose many more risks that credit cards, or even cash for that matter, it’s important to take steps to protect them:

• Store your card in a safe place at home when not using it.• Guard the keypad when entering your PIN number at an ATM machine.• Never use your debit card to place orders for delivery over the phone.• Consider prepaid credit cards or online payment options like PayPal to

purchase items over the internet.

The fact that you’re carrying a card that provides direct access to your bank account and personal information–with few protections–makes debit card fraud more dangerous than fraud you might face with credit cards. So if you are considering this as your primary form of payment know that you are using it at your own risk

Other Options

Other options to use instead of a debit card include but are not limited to:

I. Cash

II. Checks

III. Money order

IV. Credit card

Interesting Facts

Different types of Debit

The types of debit cards

Other Options

Other options instead of using the debit card is included but not limited to:

1. Cash

2. Checks

3. Credit card

4. Money orders