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| Debit
Cards |
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Debit cards are payment cards that debit or subtract money
directly from your bank account, as if you were paying with
cash, check or e-check. Debit cards are sometimes referred
to as check cards. For your debit card to work, you must
already have the money in your account to cover the
transaction to purchase offline and online. |
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 Debit
cards differ from credit cards in that credit cards
are payment cards that draw from a credit line,
money made available by your card issued by your
local bank. Certain debit card holders of Visa and
Mastercard have certain features and benefits when
using them for purchases locally and
internationally. In many cases, you are given a
grace period to pay for your purchases, and if you
do not pay in full by the end of this period, you
are charged interest. Please visit Visa Debit and
Mastercard Debit for more information. |
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Benefits of a Debit Card: |
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Convenience -
The Debit card
frees cardholders from having to
carry bulky checkbooks, multiple
identification cards and large
amounts of cash. |
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Security -
Debit cardholders Zero Liability
in cases of card fraud, theft or
unauthorized card purchases for
signature based transactions,
provided cardholders promptly
notify their issuer of such
fraud, theft, or unauthorized
purchase. |
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Acceptance -
The Debit card
can be used anywhere there are
accepted Visa and Mastercard
symbols is displayed at more
than 24 millions of merchants
worldwide. |
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Budget tracking -
Debit card helps
track everyday spending as
monthly bank statements list how
much was spent and where. |
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Fast, easy payment process
- No checks to
write, and no need to present an
I.D. or other personal
information at the sales
counter. |
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 Disclaimer: The material provided above should be used for
informational purposes only and in no way should be relied
upon for financial advice. Also, note that such material is
not updated regularly and some of the information may not,
therefore, be current. Please be sure to consult your own
financial advisor when making decisions regarding your
financial management. |
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