What kind of debit card do you have? The two types are direct debit cards and deferred debit cards.
Think of a fusion between a traditional credit card and a direct debit card. Rather than on the spot of a purchase, money is withdrawn from your checking account within two or three days of the purchase.
Both of these cards provide a degree of protection for the consumer. With each it is essential the consumer checks their statements frequently as federal law requires banks to refund stolen funds when reported in less than 3 days and up to 60 days depending
on the nature of the card.
© Finextra Research 2014