A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder called Answer Revealed
by J Nandhini
Updated Oct 26, 2023
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder called
The correct answer is Debit Card
A debit card is a payment card that allows the cardholder to make purchases and withdraw cash directly from their bank account. When a debit card is used for a transaction, the funds are immediately deducted from the cardholder's account, unlike a credit card where a balance is borrowed and paid off later.
Debit cards can be used at various points of sale, including stores, online shops, and even for some bill payments. They are also commonly used at ATMs to withdraw cash. Each debit card has a unique number, a security code, and often the cardholder's name, making it a secure and convenient way to access and manage funds. It's an essential tool for everyday financial transactions for many people around the world.
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder called - FAQ
The correct answer is Debit Card