The first thing we are going to do is determine the etymological origin of the term at hand. In this case, we have to state that it is a word that derives from Latin, specifically “debitum”, which can be translated as “debt” and that is the result of the sum of three different parts:
-The prefix “de-”, which indicates “deprivation” or “from top to bottom”.
-The verb "habere", which is synonymous with "have."
-The suffix "-to", which is used to indicate that "has received the action".
The notion of debit It is used in the field of economics and finance. The dictionary of the Royal Spanish Academy (RAE ) recognizes the term as a synonym for debt : an obligation that must be satisfied or paid.
If we focus on the terrain of the accounting , the debit is an entry that is recorded in the should and represents something that is already owned by the person. The opposite concept is that of credit , which is noted in the to have .
The debit cards They are one of the most used payment mechanisms today. It is a card which has a magnetic strip and, sometimes, a chip. This card is associated with a Bank account (a savings account or a checking account): when the user decides to pay for a purchase with the debit card, the corresponding money is taken from the account in question.
This means that the money used to pay an acquisition with a debit card was part of the subject's assets. If in your bank account you had 10,000 pesos and make a purchase of 2,000 pesos With your debit card, the available balance will become 8,000 pesos . When a credit card is used as a means of payment, however, the buyer contracts a debt: he must pay the purchase in the future.
It is important to keep in mind that if the individual lacks balance In the bank account, you cannot use the debit card, since there is no money available to debit.
Numerous are the advantages that debit cards have compared to credit cards and among those we can highlight the following:
-The first and most important is that it prevents the person who has one of them from owing. And it will only use the money you have in an account to which the card is associated. If there is no money in that account, you will not have any.
-In the same way, it stands out the fact that it is much easier to hire a debit card than a credit card. That is because for the first one you simply have to open or have a checking account.
-As a general rule, they are usually free and are not associated with any type of maintenance or renewal charge.
-Also, it should be noted that they help keep expenses under control, that is, they help not to spend more than is due.
