[GNC] 2 Questions About Debit Cards

[Michael Hendry]

> On 28 Aug 2019, at 13:27, Gary Holtum <diamondhranchqh at earthlink.net> wrote:
> 
> First you need to fund the debit card. $ has to come from somewhere. Then you use the debit card to purchase many different things.

Ah, this isn’t the way debit cards work in the UK - we can use debit cards in the same way as we use credit cards but our bank accounts are charged immediately for the former and not the latter.

> 
> 
> One transaction to fund card, then many transactions to expense acct’s when you use it.

This is what we’d call a prepaid card here, dependent on being topped up periodically. This would be regarded as a Current Asset by Gnucash.

> 
> 
> 
> Similar to what you do with a credit card. Use it many times then make one payment.

Except that you have to pay in advance when you use a prepaid card.

Michael.