What is the difference between CREDIT AND DEBIT transactions?
A. When you use your VISA Debit card for purchases, you have a choice between pushing the CREDIT or DEBIT buttons. Both functions will access your checking account, but there are important differences. If you choose CREDIT, you will not have to enter your PIN. You simply sign the receipt and go on your way. Although you selected CREDIT, your purchase will still be deducted from your checking account with no transaction fee. You can make purchases from over 22 million locations worldwide AND you can obtain cash advances from any financial institution up to $1,000 per day. If you choose DEBIT, you will be required to enter your PIN for authorization and you may be charged a processing fee. You can withdraw cash from any ATM machine and make POS purchases at select merchants. You can withdraw cash from your checking and/or savings accounts up to the daily withdrawal limit. If you use your VISA Debit card at GEICO FCU owned ATM machines, you get unlimited free access to cash. If you use yo
Related Questions
- Can I sort my transactions to display only those of a specific type (debit, credit, payment, transfer, check, Debit Card, personal reserve, or Keep the Change)?
- How does pricing work for merchants? Are MasterCard PayPass transactions more or less expensive than traditional credit and debit transactions?
- debit and credit transactions?
