1. DEBIT CARDS

2. What is a Debit Card? almost instantaneously  When a consumer makes a purchase with a debit card, the funds are electronically transferred from the account holder's checking account to the merchant's bank account - almost instantaneously!

3. 2 Types of Debit Cards: PIN required 1. Cards designed for ATM withdrawal only (PIN required). signature sometimes required 2. Cards designed for ATM withdrawals as well as purchases (signature sometimes required).

4. Acquiring a Debit Card  When opening a checking or savings account, you will be automatically offered/ given a card!

5. Front Debit Card Example (Front)

6. Back Debit Card Example (Back)

7. Tips for responsible debit card use!  Be smart with your debit card: PIN  Choose a unique Personal Identification Number (PIN).  Keep your PIN private.  Know your account balance, recording your transactions in your check register as soon as possible.  If your card is lost or stolen, contact your card issuer immediately.

8.  Safer than using cash.  More convenient.  Widely accepted.  No interest.  Easier qualification.  Requires close attention to your spending habits.  More susceptible to fraudulent use than credit cards.  Debit cards do not carry the same protection as credit cards. It carries a greater liability.  No deferred payment option.  Cannot be used to build stronger credit.  Some businesses do not accept debit cards. Advantages Disadvantages

9. The Changing Face of Debit  Not too long ago, debit cards could only be used for one purpose: to withdraw cash from an ATM.  Today, they are, in essence, an electronic version of a check.

10. So Who Has Them? Debit Card Providers