Debit card also is known as bank card or check card is used as a payment gateway for paying online and offline bills and making purchases. Debit card provides the cardholder electronic access. The card is linked to one or multiple checking accounts. When you need money for purchasing goods through a store or through some online medium, this card can http://www.blogger.com/img/blank.gifbe used for direhttp://www.blogger.com/img/blank.gifct transfer into the sellers account from your account. Card contains some electronic codes and when swiped on the machine, machine detects that code (which is unique for every card) and informs the bank about the transfer. Bank then transfers money into the sellers account. This process is very fast and takes seconds in transfer.
Since debit card is linked to checking account and can be used anytime, anywhere, it is also known as electronic check. The money which you use is your real money. Debit cards are not as secure as credit cards. Credit cards are also not very secure but debit cards are more open to frauds because the seller directly gets into your bank account. If you are not aware enough then you can be victimized.
Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash and as a check guarantee card. Merchants may also offer cashback facilities to customers, where a customer can withdraw cash along with their purchase.
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