Process Debit Card as Debit or Credit
"Will that be debit or credit?" You've probably been asked this hundreds of times, but do you really know how to make the best decision for any given purchase? Here's some help:
A debit transaction with your debit card:
is deducted directly from your checking account.
requires a PIN but no signature or identification.
is monitored by your credit union for fraud and misuse. You will be contacted if a purchase or transaction appears suspicious.
is no-fee for the cardholder but is an expense for your credit union.
A credit transaction with your debit card:
is deducted directly from your checking account. It does not mean it is a credit card. It does not accumulate interest charges. The transaction is simply being processed or routed through the Visa system that handles both Visa debit cards and credit cards.
is called signature-based because most often you are asked to sign your receipt. However, receipts are not always issued on purchases of $25 or less. You may be asked to show identification.
is monitored by your credit union for fraud and misuse. You will be contacted if a purchase or transaction appears suspicious.
means you receive added protection. With Visa's Zero Liability program, you shop at no risk as your liability for unauthorized transactions is $0.
is no-fee for the cardholder and saves your credit union some money.