Visa debit card question??

Question

i only have $20 on my visa debit card, and i want to buy a camera that is $400, will it let me buy the camera even if i dont have enough money in my account, if so when do i have to pay the 400 dollars if it lets me purchase it?

im 16 so idk anything about debit cards but i have one.

Answer 1

Debit cards draw money from your bank account, so you are going to be hit with overdraft fees if you buy something for more then whatever is in your account.  Debit cards are not the same as credit cards!  

Answer 2

most debit cards wont let you make a purchase that big if you dont have the money in the account

Answer 3

I work at a bank and for one you are not supposed to have one at 16, but whatever. Think of your debit card as an ATM card. You can only spend what you have available in your account. If you spend more you will be hit with overdraft fees (if it lets you use it at all) which amount to about 35.00 for each charge that overdraws you. If you do this and do not pay it back promptly, they will charge off your account and send a file to chexsystems on you and you will not be able to open an account at any bank for 7 years! Believe me you do not want that to happen. You should work and save the money to purchase the camera. If you do not have a savings with that checking account, you should go get one so you can link it for overdraft protection and so you can save your money better.  

Answer 4

A debit card is based on money in the bank

Go over it and you will be hit with all kinds of added expenses

Answer 5

Understand, a debit card is just that, a card that you put your own money in to purchase things, not credit, not a credit card.  It is not a credit card, that has extended you credit, with an actual limit or credit spending limit.  It is what it is, money on a card that you have provided, so that you can purchase things, with and only with the

" EXACT "  amount of money transactions.  Example:  If you have $ 50.00 on/in your checking account that is attached to your Visa Debit card or Visa Debit Gift Card, you can only spend that amount only, nothing more, nothing less.  What would make you think that you can spend more than what you have?  It is not a credit card.  So, if you try to purchase this item, you will be declined, and it will be quiteembarrassingg.  You will have to put the exact amount in your account or on your debit card to purchase this camera.  Or eventually open a credit card by applying for it.

Answer 6

That depends on whether you have overdraft protection. If you do, then you probably can buy it, but DO NOT BUY IT. I love me visa debit card, but you should never spend more money than what is in your account. If you only have 20 dollars and you buy something that costs 400 dollars you will have to pay overwhelming fees...way more than the price of the camera.

If you do not have the money, you shouldn't buy it.

If you do have the money, you should:

1) Put the 400 in the debit account and not worry about it.

2) Pay in cash

3) Get a credit card which will not charge you additional fees as long as you pay the bill on time.

Answer 7

This is exactly why children shouldn't be given debit cards....

Answer 8

Nope. You have to have the money in the account in order to purchase anything on a Debit card. A debit card just gives you easy access to your own money. It is not like a line of credit from a bank that issues a credit card. Debit cards take the place of writing a check from a checking account.

You could go out right now though and buy something that totaled $20 or less. But that's it.

:)

Answer 9

If this is a pre-paid debit card, you can spend the $20 applied to the camera, but then you will need to fund the other $380 with another card or cash, etc.  If it's linked to a checking account, the purchase may go through even though your account could be overdrawn - hitting you with finance charges until you pay up!

Answer 10

A debit card is not a credit card. You can only transact up to your available balance.