Debit Card

money · banking · payments · everyday

What it looks like. A debit card is a small plastic rectangle with your bank's name, a 16-digit card number, your name, and an expiration date printed on it. Many modern cards also have a tiny computer chip that makes them extra secure.

Money comes from you. When you use a debit card, the money for your purchase gets taken directly from your bank account right away. It's different from a credit card, which lets you borrow money and pay it back later.

Different ways to pay. You can use a debit card by inserting it into a machine and typing in your secret PIN number, swiping the magnetic stripe on the back, or just tapping it near a payment reader for contactless payments.

Instant and direct. The money travels immediately from your bank account to the store's account, so the transaction happens right in front of you. This makes it a safe and quick way to buy things without carrying around lots of cash.

Just like a check. Debit cards are sometimes called check cards because they work similarly to writing a check, except everything happens electronically and instantly instead of on paper.