When you use your debit card, you can see interaction among three parties:
1.) You tell a merchant you’d like to buy something.
2.) That merchant tells your credit union to pay money from your account.
3.) Your credit union asks you to authorize the transaction.
If something goes wrong in that process, you assume it’s the fault of one of these three parties. In the modern financial world, though, nothing is simple.
Here’s a look at three other places a financial transaction could go south and how to protect yourself.