what is debit card

A debit card is a payment card that allows the cardholder to access funds from their checking account to make purchases or withdraw cash. When a transaction is made using a debit card, the funds are immediately deducted from the cardholder's account, unlike a credit card where the payment is made at a later date. Debit cards are typically issued by banks and can be used at ATMs, online, and in-person at merchants that accept card payments. They are a convenient and widely used form of payment, offering a convenient way to access funds and make purchases without the need for cash. Debit cards also offer a level of security and protection against fraud through features such as PIN numbers and monitoring services. Additionally, many debit cards offer rewards and benefits such as cashback and discounts on purchases, making them a popular choice for consumers. Overall, debit cards play a significant role in the financial landscape, providing a convenient and accessible way for individuals to manage their money and make payments.