Debit Card

money · banking · payment

What it does. A debit card lets you buy things without carrying cash, and the money comes straight out of your bank account right away. It's like having your wallet connected to the bank.

How it differs from credit. Unlike a credit card where you borrow money and pay it back later, a debit card only works if you already have the money in your account. The money moves from your bank to the store immediately.

How you use it. You can swipe the card, insert it into a machine and enter your PIN number, or just tap it for contactless payment. Newer cards have a chip that makes them more secure than old magnetic stripe cards.

What's on it. Your debit card shows the bank's name, your name, a card number, and an expiration date so everyone knows who it belongs to and when it expires.

Why people use it. Debit cards are convenient because you don't have to carry coins and bills, and they help you spend only what you actually have instead of going into debt.