All of the following statements about debit cards are true except:
A) Debit cards eliminate the need for consumers to write a paper check when making a purchase.
B) Debit cards enable consumers to make purchases even if they do not have sufficient funds at the time of purchase.
C) Debit cards do not provide any float.
D) Debit cards do not have the protections provided by Regulation Z to credit cards.

Question

Quizplus · Accepted Answer

Debit cards do not enable consumers to make purchases if they do not have sufficient funds at the time of purchase, as they are linked to the consumer's bank account and the transaction will be declined if there are insufficient funds.

All of the Following Statements About Debit Cards Are True