1. Debit cards
Shumate – 5th Period

2. What is a debit card?
A card issued by a bank allowing the holder to transfer money electronically to another bank account when masking a purchase.
A debit card is a more convenient way of spending money rather than carrying cash around

3. What does a debit card do?
A debit card draws funds from your checking account, not a line of credit.
It is using a personal identification number (PIN) to authorize the transaction.
A debit card can withdraw money from an ATM.
It can also access money in your checking account.
A debit card automatically subtracts money from the bank account that it is linked to, so there is never any bills.

4. What other options do you have if you do not want to use a debit card?
Check book
Cash
Credit card

5. Common problems people have with debit cards
People often use their debit card so much that they forget to check their bank account and they become overdrawn.
People give out their information such as their PIN number and it causes their account to be hacked and their money can be stolen.
People can pretend to be you and can cause you to have fraud charges to your bank account.

6. Things you need to know about your debit card
Debit cards are linked to your bank account so anything you spend will be deducted from your bank account.
Debit cards can help you budget.
Always know your current balance.
DO NOT TELL ANYONE YOUR PIN!

7. Ways to prevent debit card problems.
Use a checkbook.
Keep money in your bank account.
Use your debit card as little as possible and don’t put your personal information online unless it is a safe and protected site.
Make sure you keep up with it and never give your PIN number away to anyone.

8. Tips to protect your PIN
Always be careful to shield your PIN.
Be aware of your surrounding and look out for anyone standing too close because they might be trying to steal your PIN number.
Memorize your PIN. DO NOT WRITE YOUR PIN DOWN.
Select a unique PIN.
Examples of what not to use for your PIN: your telephone number, date of birth, or your address.

9. Examples of how to use your debit card
This is a picture of a man using his debit card at an ATM to get cash to carry around.

10. Responsible use of debit cards
Create a record-keeping system. Know your current account balance. Don’t forget about checks that have not yet cleared your account.
Always take sales receipts and carbons. They will help you keep track of your purchases and help you record transactions in your check register quickly.
If your card is lost or stolen, contact your card issuer immediately.
Keep your PIN private. Try to memorize your PIN instead of writing it down, and never tell it to anyone.