Using a Debit Card with a Savings Account?

Question

I recently opened a savings account with my parents at Bank of America and got a debit card. I'm opening a checking account once I find a job. Can I still go shopping online with the debit card under my saving's account? My parents told me I can draw money out whenever I need it, so is this like a special savings account?

Answer 1

Normally a debit card is linked to a checking account and not a savings account.  Are you sure that the card you have is a debit card and not an ATM card?  The difference between these two is that an ATM card is ment to be used only at an ATM and not in stores.  Some ATM cards do work in stores, but your bank may charge you a fee to use it there (if you repeatedly use it in a store, the bank may close the card).  I would ask either your parents or someone at the bank what kind of card it is and be sure that you understand all the fees that your bank will charge you.

Answer 2

If you can  use that debit card at an ATM then yes you should be able to use it for online shopping.

Answer 3

It all depends on if the bank and/or card has online functionality. What you may want to do is have the bank set the the savings account as the default so that it's the one that is debited when you do your purchases.

Just flip our card over and call customer service and ask if they can help you with this. They may want to confirm your request with your parents first.

Answer 4

Debit cards are issued with checking accounts. It is possible to tie a savings to one, but one soley for a savings is unheard of. The only way it might be is if your mom put her on one of her checkings. Plus overdraft protection is not offered for a savings account. You sure you didn't open a checking account? Cause it sounds like you did. In that case you can use it at stores. Otherwise you have an ATM card which can be used at an ATM.