Which of the following is true of debit cards?

Question

Quizplus · Accepted Answer

Debit cards require the cardholder to enter a personal identification number (PIN) to authorize a transaction, which provides security and helps prevent fraud. Option A is incorrect as debit cards are used to access and use the money in the account. Option B is incorrect as there is typically no grace period with debit card purchases - the funds are immediately deducted from the account. Option C is incorrect as debit cards are not used to get loans from the card-issuing bank. Option E is incorrect as the transaction amount cannot exceed the available balance in the account.

Which of the Following Is True of Debit Cards