debit and credit

In its original Latin, Pacioli's Summa used the Latin words debere (to owe) and credere (to entrust) to describe the two sides of a closed accounting transaction."

 Typically Debit: requires a pin, has a fairly low limit on the transaction amount, offers little in the way of fraud and theft protection.


 Credit: does not require a pin, sometimes requires a signature, has a higher limit, sometimes puts a hold on more funds then the transaction amount, has greater fraud and theft protection and is therefor minitored by the service for irregularities in spending habits that can trigger a refusal of the transaction until the card company is contacted and the identity and intent of the card owner is verified.


My dad taught me this because i am getting a bank account soon.