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DEBIT CARD ACCOUNTS

Debit Cards.

A Debit Card is a payment card which is a direct link to your bank account. When a debit card is used to buy a product the money is taken straight from your bank account. With a debit card there is absolutely no loaning invloved any money spent is your own money, except if you have an overdraft. There are two different types or debit cards, Visa debit and Mastercard debit.

 

Setting Up A Debit Card .

To Set Up A Debit Card you typically have to open a checking account with a bank then thereafter request a debit card. You'll typically need to provide several pieces of identification often a passport or driving license to be able to open an account if you've never used the bank before. If under the age of 18 you will need to be accompanied by an adult to be able to open an account.

Protection When Using A Debit Card.

Using a debit card when purchasing anything gives you a layer of Protection. If a problem occurs when purchasing a product or service you may be able to get your money back under the chargeback scheme. For example if you were to purcahse a car and the company then goes bust before the car is delivered, your bank may possibly be able to refund you. It is important to note that you will only recieve a refund if your bank is able to receive the money spent from the now bust company. It is not a legal requirement for the bank to refund you.