Check Debit Card : The Difference With Credit Cards

By: EconomyWatch Content Team   Date: 25 January 2010

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Although it looks and behaves a lot like a credit card, when you use a check debit card it’s important to remember that the money is coming directly from your bank account. A few banks offer a debit card that has a deferred payment like a credit card but you still need to have the money available for that payment when it becomes due. Using a debit card has many advantages and can even help save you money.

First, you can use your check debit card like a credit card. This is especially important if your bank charges you fees for using the card, most don’t but a few still do. If your bank is going to charge you a fee for using it then simply ask a cashier to run it through as a credit transaction. The money will still be taken out of your account immediately but you won’t be charged a fee.

Another way to save money is to use your debit card in place of all of your checks. When you order checks then you are paying approximately 27 cents per check, or more if your check is not the most basic design and more expensive. Just by cutting down on your check use, you can save yourself a lot of money in the long run. This is also true of using your card to pay all your monthly bills. You save the money on checks but also save the time and expense of buying stamps and envelopes every month too.

The best way that using a check debit card will save you money is by making you more aware of your financial standings. If you must have the money available in your account right then before you make a purchase, you are more likely to know exactly how much is in your account at any given time.

With checks and credit it is easy to lose track of things and get a lot of fees, penalties and bounced checks as a result. But if you don’t have the money with your debit card, you won’t get to make your purchase. This can help you think twice about those impulse purchases that you may not really be able to afford. There is a lot of power in knowing that you are about to lose that money right on the spot.


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