11:55
withdrawals in undergrad?
Warning
Info
LSDefine
Simple English definitions for legal terms
debit card
Read a random definition: Hague Rules
A quick definition of debit card:
Debit Card: A card from the bank that lets you buy things and take out money from your bank account. It's like a credit card, but the money comes out of your account right away. You can use it at places that accept the same brand of credit card that your debit card is from, like Visa or Mastercard.
A more thorough explanation:
A debit card is a card issued by a bank that allows you to buy things and services. You can also use it to take money out of your bank account at an ATM. It's like a credit card because you can use it instead of cash, but the money comes out of your account right away. Debit card companies work with big credit card companies like Visa and Mastercard so you can use your debit card anywhere those credit cards are accepted.
- When you go to the grocery store and use your debit card to pay for your food, the money comes out of your bank account right away.
- If you need cash, you can go to an ATM and use your debit card to withdraw money from your account.
- When you go out to eat with friends and everyone wants to split the bill, you can use your debit card to pay for your portion.
These examples show how a debit card works. You can use it to pay for things or get cash, and the money comes out of your account right away. It's a convenient way to make transactions without carrying cash around.