A debit card is known as the plastic cash, which is easily accessible, which gives you electronic access to the savings account with the help of ATM and card swipes.

It has almost similar functions to that of a credit card, but the only significant difference is that the amount gets immediately deducted from the account of the cardholder instead of giving the option to pay the amount later.

The use of the debit card is widespread in the world, which allows the usage of debit cards of one country in other countries too. 

You can also apply for the debit cards, both offline and online mode.

It is very easy to apply for debit cards these days as you just need to complete the formalities, and you’ll get the debit card of your own

The major four issuers of debit cards are –

Debit card
source :aubank
  • Mastercard 
  • American Express 
  • Visa 
  • Discover card 

Benefits of debit cards:

Debit card
source: moneycontrol
  • Using a debit card reduces the risk of fraud as it is a good alternative for cash and is also secured. 
  • It is very easy to carry debit cards with you while you are traveling instead of carrying cash. 
  • There are a lot of ATM machines around in the world, so it also makes it easy to withdraw cash with your debit card whenever you want it. 
  • If you use a debit card for shopping, then it also gives you offers like cash backs, coupons, rewards, and much more. You can also redeem your points and get other offers. 
  • The debit card also helps you in keeping track of all the expenses that you have with the continuous SMS about the details and also transactions, which is a little difficult with cash payments. 
  • The best part about the card is that you will put a limit on spending money because you can only spend the amount you have in your account, and also with the track of expenses you will make sure that everything stays in control. 

Do’s and Don’ts : 

Do’s :

spurce: visa
  • If you ever lose your debit card, then immediately report the loss of the card as the bank will do the needful formalities to make sure there are no fraud payments done. 
  • Keep a check on your mails and transactions to make sure that there are no fraud payments done. 
  • Make sure to authenticate every transaction that you make from your card. 
  • Set up the SMS alert as it will help you in keeping track of the money that you are spending at the moment. 
  • Keep checking your statements and keep track of all the expenses that you have to make sure it is valid. 

Don’ts :

Debit card
source: jagoinvestor
  • Make sure that you do not disclose the PIN of your card because it gives access to the card, so don’t disclose it on public platforms. 
  • Make sure not to use unsafe platforms for payments. 
  • Keep your debit card really safely and don’t cause any damage to the magnetic chip because, without that chip, the card is a useless plastic material.