When is debit card interest calculated?

Debit card interest is typically calculated on a daily basis, based on the average daily balance in the account. The interest rate and the method of calculation may vary depending on the financial institution and the specific terms and conditions of the account. In most cases, interest is calculated at the end of each day, based on the balance in the account at that time. The total interest accrued over the course of the month is then added to the account balance and becomes part of the next day's calculation. It's important to note that not all debit card accounts accrue interest. Some accounts, such as basic checking accounts, do not offer any interest on the funds held in the account. However, some financial institutions offer interest-bearing checking accounts, which may accrue interest on the funds deposited in the account. It's important for account holders to carefully review the terms and conditions of their specific debit card account to understand whether interest is calculated and how it is applied. Additionally, account holders should be aware of any fees or penalties associated with their account, as these can impact the overall cost of maintaining the account.