Unit 3: Financial Institutions & Banking Systems

Part 4: Debit Cards

Dollars & Sense

What Happens If They Don’t Take Checks?

Use a Debit Card!

ClickVisa Debit Commerical

What is a Debit Card?

Enable customers to withdraw money directly from account.Linked to a specific account, typically

checking.When you make a purchase it automatically

deducts that amount from the account linked to card

You are using your own money!

Making Purchases with Debit CardCard will be ‘swiped’Enter PINCashier gets approval code

Code shows you have enough money in account for purchase

Questions to Ask about Debit CardsAnnual Fees?Account Link?ATM withdrawal fees?

These are separate from the machine fee!

What happens if card is lost?Electronic Fund Transactions Act

You are responsible for up to $50 if reported in 2 days.

You are responsible for up to $500 if reported in 3-60 days.

Creating a Debit Card

Your TaskCreate a personalized debit card using a

blank piece computer paper (8.5 x 11). Using pictures, colored pencils, markers,

construction paper – make a professional looking debit card. (Oversized of course!)