Point-of-Sale Transfer Terminals
allow consumers to pay for retail purchase with a check card, a new name for debit card. This card looks like a credit card but with a significant difference¾ the money for the purchase is transferred immediately from your account to the store's account. You no longer have the benefit of the credit card "float", that is the time between the purchase transaction and when you pay the credit card bill. With immediate transfer of funds at the point-of-sale, it is easy to overdraw your checking account and incur additional charges unless you keep careful watch on spending.