Whether you’re making a purchase or withdrawing cash with your debit card, the money is immediately drawn (that is, debited) from your account. You can use a debit card to pay for things in person and online or to withdraw cash directly from your account via an ATM. It’s possible to link a debit card to a money market account, a savings account, or another cash account, but linking it to a checking account is the most common. What is a debit card?Ī debit card is a physical form of payment-meaning it’s a card you can actually hold in your hand-typically connected to a checking account. So let’s dive into what a debit card is, how to use a debit card, and how to get a debit card for yourself. If you’re taking your first steps toward financial independence, it’s the perfect time to get acquainted with the debit card.
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