Provide a definition for debit card.

Debit Card

A payment card that deducts money directly from a consumer’s checking account to pay for a purchase.

Recognize the role and usage of different banking instruments (e.g., debit cards, zero-balance accounts) in cash management.

Verified Answer

Fatima MuhammadJul 18, 2024

Final Answer :

An automated teller machine card used at the point of purchase to avoid the use of cash. As this is not a credit card, money must be available in the user's bank account.

Learning Objectives

Recognize the role and usage of different banking instruments (e.g., debit cards, zero-balance accounts) in cash management.

Provide a definition for debit card.

Definitions

Learning Objectives

Learning Objectives

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