You can use your debit card at ATMs to get cash, make deposits, transfer money and check your balance.You can pay using money you already have-without carrying cash or having to write a check.Here are a few benefits that come with using a debit card: There are perks to all different kinds of payment options-including debit cards. That means that even if you don’t enroll in overdraft protection, transactions that would overdraw your account will be declined and you won’t be charged any fees. #DEBIT CREDIT FREE#And as the Federal Trade Commission (FTC) explains, “Some banks might charge this fee for every purchase until you put enough money in your account to pay for the things you are buying.”Ĭapital One provides free overdraft protection and has eliminated overdraft fees. That means you could be charged even if you overdraw by just a penny. Many banks and credit unions charge a fixed amount for overdraft fees, regardless of how much the transaction is. Transactions could be approved, but your bank or credit union may charge you an overdraft fee.And if you’ve linked your debit card to your savings account, your bank or credit union may automatically transfer funds to your checking account to make up the difference. If you don’t have enough money to cover a purchase, a few things could happen: If you have enough money in your account when you use your debit card for a purchase, you should be good to go. So when you use your debit card to pay for something, you’re using money you already have-and funds are deducted directly from your bank account. Remember: Your debit card is linked to your checking account. Debit cards can also be used at ATMs for cash withdrawals and other transactions. A debit card is linked to your checking account and allows you to use the account for purchases.
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