What small plastic card linked to a deposit account at the owner's bank allows the cardholder to make purchases with money taken directly out of the account?

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Multiple Choice

What small plastic card linked to a deposit account at the owner's bank allows the cardholder to make purchases with money taken directly out of the account?

A debit card is a small plastic card linked to a bank deposit account, so purchases pull money directly from that account at the time of the transaction. This real-time withdrawal is what distinguishes it from other cards: a credit card borrows money from a lender and is paid back later, often with interest; a prepaid card is loaded with a set amount of money in advance and may not be tied to a bank account for live withdrawals; and a credit report is not a payment card at all. So the described card is a debit card.

What small plastic card linked to a deposit account at the owner's bank allows the cardholder to make purchases with money taken directly out of the account?

Boost your loan knowledge and credit scores understanding. Study with quizzes and detailed explanations. Prepare for your test with relevant questions and expert guidance.

What small plastic card linked to a deposit account at the owner's bank allows the cardholder to make purchases with money taken directly out of the account?

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