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Question
Distinguish between a Debit card and a Credit card.
Distinguish Between
Solution
| Debit card | Credit card |
| A debit card withdraws funds straight from a customer's bank account. | Credit cards are used to charge consumers' lines of credit. |
| Debit cards offer no grace period and require immediate payment. | Credit card purchases often include a 30-day grace period before interest is charged. |
| Debit cards provide less security against undeliverable, faulty, or fraudulent merchandise. | Credit card purchases allow customers to dispute charges and pause payments. |
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Electronic Banking (E-Banking) - ATM, Credit and Debit Cards
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