Review:
Debit Cards
overall review score: 4.5
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score is between 0 and 5
Debit cards are payment cards that are linked to a cardholder's checking account, allowing for electronic funds transfers when making purchases.
Key Features
- Direct access to funds in linked checking account
- Acceptance at most retailers and ATMs
- Ability to make online and in-person purchases
Pros
- Convenience of cashless transactions
- Security features such as PIN numbers and fraud protection
- Easy budget tracking with real-time transaction monitoring
Cons
- Limited consumer protections compared to credit cards
- Potential for overdraft fees if account balance is insufficient
- Risk of unauthorized access if the card is lost or stolen