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Debit Card: Features And Benefits

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By Author: Neha Sharma
Total Articles: 218
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"A debit card is a type of card that is connected to the holder’s bank account. This means whatever transaction is done with the debit card, the amount directly and instantly gets debited from the bank account. A debit card also functions as an ATM card. It can be used to withdraw funds from an ATM. A debit card is a very useful card to have since it is an instant way to pay for your purchases. However, since the amount directly gets debited from the bank account, it is risky in case it is stolen.

Features of a Debit card:

1. Debit cards allows you access to your savings account. You have no limit on the amount you spend. However, it is restricted to the balance in your savings account.
2. An international debit card can be used on international websites to purchase different items. For example, if you want to buy any subscriptions or purchase software, you can safely use your international debit card.
3. A debit card also functions as an ATM card and can be used to withdraw funds from an ATM. You can withdraw funds from both your bank and an ATM of a different bank.
4. You can use your online debit card for purchases online and avail cashback offers. Cashback offers accumulate on your card and are credited to your savings bank account.
5. Debit cards come with chip encryption and PIN based authorization.
6. Banks allow you to set your own daily shopping limits on the debit card.


Benefits of a Debit card:

1. A debit card can only be used till the time there is balance in the savings account. This can effectively be used to control and check spending.
2. Debit cards are secure since they have PIN based authorization for transactions.
3. International debit cards can be used on all types of websites, making it a boon to have.
4. Debit card is a replacement for cash. There is no need to carry cash on hand since the debit card can be used to swipe at POS terminals and can also be used to withdraw funds.
5. Many banks offer free accident insurance and travel insurance coverage for debit cards. Once you get your debit card, ensure you check with your bank about the insurance coverage, the inclusions and exclusions.
6. Some special debit cards give offers on online shopping up to a particular limit while some cards help you accumulate airline miles.


Author Bio:- Neha Sharma is a finance student who loves to write in her free time. She has spent considerable time researching about debit card. Through her work, she has listed its features and benefits

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