All of the following are characteristics of debit cards EXCEPT
A) payments are deferred until a later date.
B) they can be used like checks.
C) they eliminate the problem of trust since the bank's computer authorizes the transaction.
D) when used at a store, the user's bank instantly credits the store's account with the amount and deducts it from the user's account.

Question

Quizplus · Accepted Answer

Debit cards do not defer payments until a later date. Instead, funds are immediately deducted from the user's account at the time of the transaction.

All of the Following Are Characteristics of Debit Cards EXCEPT