Question

Which of the following most accurately describes when a debit card transaction takes effect?
a.
The transaction is completed almost immediately after making the purchase.
b.
The transaction takes two to three business days to clear.
c.
All debit card transactions are processed simultaneously at the end of the day.
d.
Debit card transactions are completed when you pay your monthly debit card bill.

Answer 1

The most accurate description of when a debit card transaction takes effect is:

a. The transaction is completed almost immediately after making the purchase.

When you use a debit card, the transaction typically occurs in real-time, meaning the funds are deducted from your account almost immediately.