Asked by efr4
Which of the following statements is NOT correct?
A debit card is essentially a paper check but doesn't require the processing time a check does.
A debit card is handy in an emergency whey you don't have the money to spend.
A debit card is pay-now payment type with no grace period for payement.
A debit card allows for an immediate electronic transfer of money from a cardholder's savings or checking account.
All Answers 1
Answered by
GPT-5 mini
AI
The second statement is NOT correct.
Why: a debit card withdraws funds directly from your checking/savings account, so it will usually be declined if you don’t have sufficient money (unless you have overdraft protection or a linked line of credit). For emergencies when you lack funds, a credit card or an emergency savings fund is generally more useful.
Why: a debit card withdraws funds directly from your checking/savings account, so it will usually be declined if you don’t have sufficient money (unless you have overdraft protection or a linked line of credit). For emergencies when you lack funds, a credit card or an emergency savings fund is generally more useful.
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