Bit coin

[Angrboda]

Of course a debit card is virtual money.

If you aren't handing someone bills and coins but are completing a financial transaction electronically, it's virtual.

No, it is a physical/paper/computer representation of money you have deposited. 

I don't think you understand how debit cards actually work.

Debit cards don't work like credit cards. You can't overdraw.

Yes you can. And some times when you use a debit card it actually is a credit transaction. Look at your card. If you're like most of us, it doubles as a Visa or Mastercard credit card.

It isn't a loan either.

In many cases it is as the transaction isn't reconciled until up to days later. The bank and the merchant are taking it on faith that when it is resolved the funds will be there. Different pending transactions are treated differently depending upon the type of the transaction.

If you don't have funds in the account, you cant withdraw money. 

You're not withdrawing money. And yes a debit card transaction can result in an overdraft. I know. It's happened to me.