Debit cards are a type of payment card that offers a safe, convenient alternative to cash and checks. Debit cards allow you to access your bank accounts anywhere by using an ATM. Debit cards can be used in two ways: as an ATM Card, and as a payment card. When you use it as an ATM card, a debit card allows you to withdraw money directly from your checking or savings account. Access to the account is restricted by a Personal Identification Number (PIN).
When you use a debit card as a payment card, you can use it to make purchases at a wide variety of merchants. The purchase amount is deducted directly from your bank account, so there are no interest charges. Fees for exceeding your balance can be charged. For example, if your debit card has a MasterCard logo, you can use it anywhere MasterCard is accepted.