Using an ATM Card

ATM cards are plastic cards with a magnetic strip on the back. The ATM card is inserted into the machine, you enter a Personal Identification Number (PIN) that has been assigned and then you follow the directions on the screen. Most ATMs charge for this service. You must be sure to subtract in your checkbook register the amount of money received from the ATM plus any fees incurred.

Using a Debit Card

When you pay a vendor with a debit card, the payment is pulled directly from your bank account. This is not a pay later option, as it would be with a credit card. With a debit card you pay now. Some debit cards require a personal identification number (PIN). A PIN-based or direct debit card removes the purchase amount from your checking account almost immediately. These kinds of debit cards are accepted at gas stations, supermarkets and retail stores such as Wal-Mart, Walgreen's and Target. A signature-based or deferred debit card has a Visa or MasterCard logo. These cards are accepted anywhere Visa and MasterCard are accepted. You should hand the clerk your card, sign a sales slip and you're done. The purchase amount will be removed from your bank account in two or three days. Be sure to subtract the amount of money spent, using the debit card, in your checkbook register.