Cash Hash » Cash Hash » Cash Credit Card » How do you use a debit card? (UK only)?

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  #1 (permalink)
: I'm thinking of getting one? And how do you connect it to Paypal?

How does it work? Is there any interest

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  #2 (permalink)
: You don't "get a debit card", you open a bank account, and that comes with a debit card to enable you to spend money from it in shops and use cash machines. Then follow PayPal's instructions on how you can use it to put money into PayPal and take it out.

There is no interest. If the bank account is a current account, you can be charged interest and fees for going overdrawn (taking out more than the account has in it, so you're borrowing from the bank). If you are under 18 or have a bad credit record, you aren't allowed to borrow so it will be a basic account, and if you try to spend more than you have in the account using your debit card, or take out more cash than you have in the account, it just gets refused. Do this too often and the bank will get fed up with you and threaten to close the account.

This is entirely different from a credit card. A credit card is a separate account you can also use to spend in shops (the cards even look the same) but it isn't connected to a bank account and you get a monthly bill showing what you've spent. Fail to pay all the bill each month and you start getting charged interest. If you have no need to borrow money, there is no point in having one, and as I say, you can't have one anyway if you're under 18 because you aren't a legal adult and can't sign a legal agreement to have credit.
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  #3 (permalink)
: If you have a current account, you can ask for a debit card. It will only let you spend what you actually have in cleared money, and the money is taken out of your account as soon as you make a purchase with it or if you take out cash at an ATM (hole in the wall) machine. My card is a Visa Debit and it can be used for paypal the same way as a credit card, or for any other online purchases where a credit card is required. Because the money is taken from your account straight away, there is no credit card bill monthly, so you must know before you use it that you have enough funds in your account. You neither receive nor are charged interest by using a debit card, but some websites charge an extra fee on top of their selling price. If you are under 18 many banks will let you have a debit card, but you can't open a paypal account until you become 18.
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