Which of the following is true of both paying with a check and paying with a debit card? ABoth are accepted by most people and most businesses. BWhen used, both take money directly out of a bank account. CBoth work like a loan from your bank that you can pay back later. DA personal identification number must be anytime checks or debit cards are used.

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22-05-2017
Business

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Which of the following is true of both paying with a check and paying with a debit card? ABoth are accepted by most people and most businesses. BWhen used, both take money directly out of a bank account. CBoth work like a loan from your bank that you can pay back later. DA personal identification number must be anytime checks or debit cards are used.

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A. Both are accepted by most people and most businesses. - This is true of both paying with a check and paying with a debit card.

A check is written against a demand account. Issued checks can be deposited to an account or encashed. It has to undergo clearing processes to ensure that the account it is drawn from has sufficient cash balance to cover the amount issued.

A debit card is a card that already has a cash balance. It can only be used upto the amount of cash it has in its debit account. One the debit card is swiped, cash from the debit account is automatically deducted.