Many Checking Accounts Offer Multiple Ways of Accessing Money in Addition to Checks. Which of These Can Be Used to Access Money in a Checking Account?
Debit cards provide direct access to funds in a checking account, allowing for purchases, cash withdrawals, and online transactions.
by Sai V
Published Oct 27, 2023 | Updated Oct 27, 2023 | ๐ 1 min read
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Many Checking Accounts Offer Multiple Ways of Accessing Money in Addition to Checks. Which of These Can Be Used to Access Money in a Checking Account?
A) Debit Cardย
B) Credit Cardย
C) Certificate of Depositย
D) Passbook
The correct option is A) Debit Card.ย
Debit cards provide direct access to funds in a checking account, allowing users to make purchases, withdraw cash from ATMs, and perform online transactions. Unlike credit cards, which involve borrowing money, debit cards use the account holder's own funds. In the given context, the passage highlights that the debit card is a means to access money in a checking account, aligning with the question's requirement. Options B, C, and D do not directly access funds in a checking account; credit cards involve borrowing, certificates of deposit are time-bound investments, and passbooks are used for account tracking, not direct transactions.
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