Is a Debit Card a Checking Account?
Quick Answer
No, a debit card isn’t a checking account. Instead, a debit card is a feature of a checking account that allows you to make purchases, pay bills and deposit and withdraw money.
While often used in tandem, debit cards and checking accounts aren't the same thing.
A checking account is a deposit account you open at a bank or credit union. You can use it to pay bills, transfer money and make payments with checks or a linked debit card. A debit card, meanwhile, is often a feature of a checking account. You can use it to make purchases in-store or online. However, it's possible to have a debit card without having a checking account.
Read on to learn more about debit cards and checking accounts, how they're different and how they're related.
| Debit Card | Checking Account | |
|---|---|---|
| Primary function | Making purchases, withdrawing cash | Holding and insuring money to be used for daily purchases and bill payments |
| Access method | Point-of-sale systems, ATMs, peer-to-peer payment services, online purchases, transfers | Cash, debit card, check, ATM, peer-to-peer payment services, bank branch, online transfer, online banking |
| Fees | May include fees such as monthly maintenance, ATM use, insufficient funds, overdrafts, foreign transactions, loading cash onto a prepaid card | May include fees such as monthly maintenance, ATM use, overdrafts, insufficient funds, inactivity, stop payments, statements, wires |
| Security | Personal identification number (PIN), transaction alerts, chip technology, liability and fraud protection, ability to freeze card remotely | $250,000 of insurance per institution, account owner and category in case of bank failure |
What Is a Debit Card?
A debit card is a payment card you can use to make purchases or withdraw cash and is typically linked to a checking or money market account owned by the cardholder. Unlike a credit card, a debit card offers direct access to the money in your linked account. When you make a payment using your debit card, the funds will be directly withdrawn from your account. Debit cards usually have a PIN needed for using the card.
Some ways in which you can use your debit card include:
- Making online purchases
- Making in-store purchases
- Using ATMs
- Withdrawing cash
- Paying bills
- Transferring money
Banks and credit unions typically issue debit cards with checking accounts. If you have a checking account, you likely have a debit card attached to it.
What Is a Checking Account?
A checking account is a type of deposit account you can open at a bank or credit union. Checking accounts allow you to access, manage and spend money through a variety of methods. You can deposit or withdraw money via cash, check, direct deposit, transfer, ATM, debit card transaction or peer-to-peer payment app.
Checking accounts are designed for daily purchases, such as paying for groceries, bills and other necessities. They're also useful for budgeting, as you can track your spending using your online account or monthly statements.
Checking accounts at banks and credit unions are insured, making them safer than physical cash. But they're not the same as savings accounts. They typically don't earn interest, but they also don't usually have limits on the number of transactions you can make.
Learn more: What Is Required When Opening a Checking Account?
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Can You Have a Debit Card Without a Checking Account?
Yes, it's possible to get a debit card without a bank account, though it's less common.
Prepaid debit cards don't require a bank account, and they aren't linked to one. Instead, you purchase a prepaid debit card and load it up with cash via one of several deposit methods. You can use the card like a regular debit card, with each transaction subtracting money from the card's balance. When the balance hits zero, you can reload the card.
Unlike regular debit cards, you can't overdraw an account with a prepaid debit card because there's no bank or account linked to it.
Learn more: Debit Card vs. Credit Card: How Are They Different?
How to Choose a Checking Account
A checking account is a valuable financial tool that can help with everything from budgeting to paying bills. When shopping around for an account, use the following tips to compare accounts:
- Look for no or low fees. Checking accounts may have monthly maintenance fees that cut into your balance. But it's possible to avoid them with the right account. Look for fee-free checking accounts or those that make it easy to waive monthly fees. And keep an eye out for other types of checking account fees, which can add up.
- Check the ATM network. One of the biggest advantages of a checking account is the ability to withdraw cash from an ATM whenever you need it. But ATM fees can be steep, so it's worth choosing a checking account with a large ATM network. Alternatively, choose an account that reimburses out-of-network ATM fees.
- Consider in-person and online accessibility. Some people prefer banking in person, while others like online banking. Choose an account that lets you bank how you want. For example, don't choose an online checking account if you like going into your local branch. If you prefer banking online, make sure the account you choose has a user-friendly online platform.
- Compare extra perks and features. Some checking accounts offer additional perks you may find valuable. For example, some checking accounts earn interest or come with cash back debit cards. Others may come with budgeting tools or offer an account opening bonus.
- Assess overdraft options. If you're prone to overdrawing your account, it may be wise to choose a checking account that offers overdraft protection. Having this service means banks will process your transactions even when you don't have enough money in your account. Without overdraft protection, your bank will decline transactions that take your account balance below zero and may charge you a fee.
Frequently Asked Questions
The Bottom Line
A debit card isn't the same thing as a checking account, but they often work together. If you want a convenient way to access your money, pay bills and track your spending, both a checking account and debit card can come in handy. However, if you don't have a checking account, it's still possible to get a prepaid debit card.
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About the author
Emily Batdorf
Emily Batdorf is a finance writer based in northern Michigan. She specializes in topics including budgeting, banking and debt payoff, leveraging her education background to break complex topics into approachable content.
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