What’s the difference between a debit and a credit transaction?
When you slide your card through an electronic card scanner, the machine is simply asking you how you would like the transaction to be processed. Both purchases will be deducted from your checking account. When you select debit, the transaction is processed through an ATM network that requires you to use a PIN. When you select credit, the transaction is processed through the Visa network and you must sign for the purchase. This option helps your credit union because Visa transactions cost less and preserve your charge back rights.
