While a debit card may look and feel like a credit card, it's actually very different. A debit card is a plastic card that is linked to your checking account and provides access to those funds via an ATM or when shopping, dining, or traveling. Debit cards can be used for online purchases as easily as a credit card.

The big difference. The spending limit is determined by the amount of funds in the account. There is no need to carry cash or write checks. In fact, teens are so comfortable with using a debit card that they ask "why do I need checks?"

Check this out. It's reported that 25 percent of today's youth have never used a check to make a purchase. In comparison, 15% of consumers in all age groups report never using a check to make a purchase.

Being flexible. Many teens like debit cards because they can be used to access funds at an ATM or at a retailer to obtain cash or make a purchase.

How convenient. With a debit card, your teen can merely swipe the card, enter a PIN or sign their name (depends on the retailer's arrangement with their financial institution), and they're on their way.

Call security! Your teen will have Zero Liability protection from unauthorized purchases. Some conditions and exceptions do apply and vary by financial institution so be sure to read the details carefully.

Making contact, or not. A new feature that has recently become available is what's called Contactless. Using a card with a special chip inside you touch the card to a special scanner provided by the retailer. Instead of swiping the card, you tap the device, and if the amount of the purchase is under $25 there is no need to sign or enter a PIN.

This service is available using a special debit card, a cell phone, a key chain fob, or even a special watch. Check with a credit union near you to see if they offer Contactless for you or your teen. Click here to find a credit union in your area.