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Placeholder Lesson:
** This lesson is generated with AI assistance and approved by Danny Nelson. This lesson will communicate the essence of the topic for now until Danny can create a full lesson. **
A debit card is a plastic payment card issued by a bank or financial institution that allows users to make purchases or withdraw cash directly from their linked checking account.
When a transaction is made with a debit card, the funds are deducted immediately or within a short period from the account balance, ensuring that users can only spend money they already have available.
Debit cards require careful balance management to avoid overdraft fees.
Debit cards typically come with security features such as a personal identification number (PIN) for authentication during transactions or ATM use.
They are widely accepted for everyday purchases, online shopping, and bill payments, providing a convenient alternative to carrying cash.