American_Bankers_Association
CTFA · Question #256
Debit card is a card use to make transactions for cash rather than credit; replaces the need for cash or checks by initiating charges against the checking account. Its big disadvantage is that:
The correct answer is A. It does provide line of credit. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
Debit card is a card use to make transactions for cash rather than credit; replaces the need for cash or checks by initiating charges against the checking account. Its big disadvantage is that:
Options
- AIt does provide line of credit
- BIt does not provide line of credit
- CRepaying of cash process is complicated
- DMerchants may even charge you for just using your credit cards
How the community answered
(21 responses)- A81% (17)
- B10% (2)
- C5% (1)
- D5% (1)
Topics
#debit card#credit line#payment methods#banking products
Community Discussion
No community discussion yet for this question.