Greater Peoria Metro Area, IL

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Debit Cards and Young Adults


Submitted by CEFCU


So, your teenager or young adult recently got a job and is looking to apply for a debit card. Debit cards are a tool for young adults wanting to learn more about money management. Generally, debit cards are directly linked to a checking account, which means that they can be used to make a point of sale, or POS, purchase. This means that while the purchase is immediate, the transaction could post at a later date as companies can claim funds every few days or even once a week. With this potential delay in posting, there can be a discrepancy between the balance displayed in their checking account versus the total, once all those purchase transactions have been deducted. That is why it is important for your teens or young adults to keep a running balance of their checking account.


A great tool for keeping track of card purchases is Online and Mobile Banking.

Most financial institutions have specially designed websites, as well as apps for mobile phones and other electronic devices. If your young adult has an account with a bank or credit union, they should be utilizing tools like CEFCU® On-Line® or Mobile Banking as a way to keep track of their expenses. By downloading the app and creating a login, they can view all of their accounts at once, and see what charges have come through on their accounts. These apps are tools similar to keeping a check register.


Debit cards are a modern form of writing a check.

A debit card is a great option for teens or young adults who want a quick way to pay for things, but also want to stay in control of their finances. While most businesses take both cash and cards for purchases, more and more locations are electing to accept only cards as a payment. There are positives about this; when paying with a debit card, as opposed to cash, each purchase shows up on bank statements or in the online banking/mobile app transaction history. This provides a form of a receipt, which helps budget and plan for future expenses.


If you have a CEFCU account, make sure you are utilizing CEFCU On-Line and the Mobile Banking app. Checking your balance before and after making purchases is a great way to plan your budget accordingly. Since debit card purchases do not always appear in transaction activity immediately, it’s also good practice to keep track of all credits and debits to an account with a written check register.


For more information about getting a CEFCU Debit Card, stop by a Member Center or visit!