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  Debit cards offer a convenient method with which to pay for goods and services without the hassle of carrying a great deal of cash. The money is directly withdrawn from your checking or savings account. In many instances, these cards carry a major credit company, such as Visa or MasterCard, adding to their credibility. However, because of the instant nature of the transactions, there are also some dangers in using debit cards.
  
  

Lack of Fraud Protection

• Credit cards offer a certain degree of fraud protection, due in part to the fact that transactions don't process immediately and actual monies are not exchanged instantly. Debit card transactions are instant, which means the money is taken from a personal account immediately. If there is a case of fraud, the process is not about removing the transaction from the account, as it is in the case of a credit card, but also how to get the actual money back. Moreover, fraud policies differ among financial institutions, leaving consumers at the mercy of a particular bank's policy when it comes to fraud protection.
  
  

Lack of Credit Building

• Debit cards are checking account transactions and therefore don't allow consumers the opportunity to build credit. This can be dangerous because, while these cards are convenient and easy to get if you have a bank account, it can be easy to forget that you have to build credit as well. Credit is necessary to buy a home and, in many instances, to get a job, rent a home, make major purchases and more. If you get accustomed to using a debit card, you don't build your credit, which can hurt you financially in the future.
  
  

Immediate Transfer of Funds

• Using a debit card means that the money is taken from your account immediately. Moreover, since you are not using a checking account register, it can be challenging to keep track of the funds you spend, which could result in an overdrawn account. This is a marked difference from using a credit card, in which charges accumulate on a credit account and then monthly payments are made on the total balance.