Do you have a checking account? If so, you probably have a debit card, but do you know how and why you should keep records of your use? Debit cards are a great convenience but can also be tricky if not used properly. By the end of this lesson, you will know all about debit cards and how to avoid unwanted charges and keep track of your money.

After completing this lesson you should be able to:

• Define debit card, ATM card, check, electronic payments, checking account, overdraft service and overdraft fees.
• Describe the advantages and disadvantages of standard overdraft services.
• Explain the importance of maintaining records of deposits, withdrawals and payments from bank accounts.
• Compare the advantages and disadvantages of different card-payment methods.