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Debit Cards and Checking Accounts INDEPENDENT LIVING NOVEMBER 18, 2015.

Published byDaniela Griffith Modified over 8 years ago

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Presentation on theme: "Debit Cards and Checking Accounts INDEPENDENT LIVING NOVEMBER 18, 2015."— Presentation transcript:

1 Debit Cards and Checking Accounts INDEPENDENT LIVING NOVEMBER 18, 2015

2 What is it? A bank card that deducts money from a checking account almost immediately to pay for purchases Much like writing a check, money goes from checking account to seller’s transactions Fees can be charged for specific transactions

3 Pros vs. Cons Fast Can withdraw cash at ATM Protected by PIN number Connected to checking account Easy to overdraft Cannot dispute or reverse charges Connected to checking account Fraud

4 Video https://www.youtube.com/watch?v=wYxRZpDV0Kc

5 Overdraft A deficit in a bank account caused by drawing more money than the account holds Overdraft protection: - checks/card withdrawals will be covered even with insufficient funds in account - very large fee OR large interest rates attached

6 Summary What are some big take-away’s from this unit? https://www.youtube.com/watch?v=MFMaFtu86HE

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