What does it mean to withdraw to debit card?

Discussion in 'Payment Processing' started by stmiki, Sep 20, 2008.

  1. #1
    I never understood this.

    I see people always posting about "withdrawing funds to a debit card" but how does this exactly work??

    Debit cards are tied to bank accounts, so isn't it basically withdrawing to your bank account?

    Or maybe I am missing something - who knows :)
     
    stmiki, Sep 20, 2008 IP
  2. eddy2099

    eddy2099 Peon

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    #2
    I would think the proper term would be 'withdrawing funds to a credit card'. Some banks do not distinguish between credit card and debit card in some respect and as such, when you withdraw to a credit card/debit card, you are using the credit card (VISA) mechanism to get your money and not through the standard banking system of ACH or Wire Transfer. Of course, when it comes to a debit card, the end result would probably be the same.

    It is sort of like saying you can deposit cash to your bank account by queuing at the bank teller counter, doing a quick check deposit or using the cash deposit money to deposit funds. They are just different means to the same end.
     
    eddy2099, Sep 20, 2008 IP