Payment Types

In the Payment Types module on Everfi.com I learned many helpful things. One thing I learned was that with certain paper payment methods – like cash, cashier’s checks, and money orders – you are providing the money for a purchase upfront. With debit cards and checks, however, the money for a purchase comes directly out of your checking account.  I also learned that when you use a credit card to make a purchase, you’re getting a loan from a credit card company. With debit cards (sometimes called check cards), the money is debited directly from your checking account. This information will definitely help me later in life.