What is Debit card? And What are the Debit Card requirements?

What is Debit card? And What are the Debit Card requirements?

What is Debit card? Debit card is a card issued by a financial institution. This card is issued to the recipient who has an account with the institution. The amount deposited in the account is the value of the card. If the carrier uses the card to purchase goods or services without paying the cash price, the price is automatically paid from the money deposited in the account.  As long as there are funds in the account, the carrier can use this card. In this, there is no opportunity to provide loan to the customer from the organization. The institution charges a certain amount from the card carrier in return for the said service. This is called service charge.   What are the Debit Card requirements? Debit card is very important for risk free and easy transactions. Through which the necessity of using this card is understood. Some important points are highlighted below:  1. Security of money: By using this card as a medium for transactions, money can be saved from loss, theft and …