It is a plastic card which provides an alternative payment method to cash when making purchases. It can be called an electronic check, as the funds are withdrawn directly from either the bank account or from the remaining balance on the card. The use of debit card is increasing instead of cash and check, because it’s easy to use and convenient.
Debit cards offer better protections than cash or checks, and Zero Liability means consumers pay nothing for fraudulent purchases. Debit cards can be used at millions of locations worldwide, and can be used over the phone and on the Internet. Debit card transactions are quick and simple, getting you out of the store faster; automatic bill pay via debit eliminates worries about missed payments. Debit transactions are deducted directly from a checking account and recorded in one place on a monthly statement. This allows cardholders to easily track where every penny is going and better spend within their means. More debit cards are also offering rewards so purchases earn points toward travel, merchandise or even cash.