However, in order to spend money, you must have funds in your bank account. If you have funds in a backup account, your account may be permitted to go into overdraft. Your transaction is approved once the bank verifies that you have sufficient funds to make a purchase. One difference between a credit and a debit card is that the latter connects directly to your bank account and uses the balance to pay your transaction or withdrawal.ĭebit cards work in collaboration with leading financial companies like Visa and MasterCard to allow users to pay everywhere those brands are accepted.Similar to credit cards, they have a personal identification number (PIN) that confirms the cardholder’s identity. Your bank-issued debit cards combine the functions of an ATM card and a credit card. It is linked to a bank account and enables the cardholder to make quick payments. This payment method has revolutionized the way we pay for items, whether in person or online. Types of Debit Cards Accepted by Online Casinos.
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