Answer:
The correct option is option (A) which is <u>debit cards allow you to draw funds directly from your checking account</u>.
Further Explanation:
Debit card and credit card might look similar but they have some difference in their working. Both debit cards and credit cards can be swapped to purchase goods and services. The main difference is where the money is drawn when purchase is done. If you uses debit cards the money comes from your account. On the other side, if you use the credit card the money is taken from your credit limit for which you should pay at a later date.
The key differences between credit card and debit card include:
- Debit cards deduct money from your bank account. Credit cards give you the credit limit issued by the financial companies or banks.
- Credit cards provide you better security by fraud protection and warranties. Debit cards provide you less securities but having less fees.
Learn more:
1. A company that allows you to license software monthly to use online is an example of ? brainly.com/question/10410011
2. Prediction accuracy of a neural network depends on _______________ and ______________. brainly.com/question/10599832
3. The shape of our galaxy was determined ‘on the inside looking out' by surveying the milky way using ____________ telescopes. brainly.com/question/7866623
4. List 3 characteristics of the ideal encryption scheme. brainly.com/question/3000161
Answer details:
- Grade: Senior Secondary School
- Subject: Business Studies
Keywords:
Credit card, debit card, banks, financial companies. Length of credit history, payment history, amount owed, types of credit used, following statements, fraud protection, draw money, bank accounts, interest rates, signature, funds, checking account, purchase