It does not however, apply to ATM transactions. A debit card can help track spending. Debit cards do not provide the same purchase protection as credit cards. In most cases, if you have a problem with merchandise or services you charged to a credit card and you have made a good faith attempt to work out the problem with the seller, the law allows you to withhold payment for the purchase plus any finance or related charges. Typically, you're out the money that has been deducted from your account until the issue is resolved.
Some banks charge for debit transactions.
While you won't accrue interest or finance charges on debit card purchases, some banks charge a monthly or per-transaction fee for debit cards. Shop around for the best deal, particularly if you plan to use your card often. Debit cards can make balancing your checkbook a challenge. It's easy to use your debit card to pay for groceries and stuff the receipt in the bag without ever deducting the amount of your purchase from your checkbook balance. To avoid overdrawing your account, devise a system for recording your debit card transactions.