Last Updated on Apr 7, 2020 by James W

Debit card is a card used by individuals; it allows spending only the money available on the person’s account. Thus, you don’t make debts. This is the main difference between credit and debit ones.

They include information about client, for example, personal data, the bank details and PIN. These bank cards are identical. However, thanks to the debit card, users do not exceed allowable limit.

Choosing a bank

It’s easy to get a debit card. Fortunately, there is a great variety of them today. Every major Bank offers multiple variations of debit cards, each of which has its own options and opportunities. So before you choose any card, determine its purpose. What is more important for you – payment for Internet purchases or regular cash withdrawals?

It should be noted that each financial institution has their rates and fees, so it is important to examine all the necessary details prior to opening an account in a particular bank.

It’s quite difficult to do all of this yourself. With effectify’s help you will have an ability to simplify your life and choose the most suitable offer.

What are the costs of debit card transactions?

Each financial transaction requires a separate payment so be sure to read the terms and conditions of the contract before opening a bank account. You should focus on the following factors:

  • The annual fee for the service. Often, this amount is withdrawn from your account at the beginning of the year.
  • Fee for issuing. Each Bank determines the amount of fee for obtaining the card.
  • The Commission for withdrawing cash in ATMs of the city. Reputable financial institutions have their own network of ATMs. Each sets their own commission.
  • The calculation in shopping centers and sales points. If the client wants to pay for certain goods and services, it is likely the client will incur the cost. However, in practice, debit ‘plastics’ rarely require additional expenses from the owner.
Read more
Make and Save Money on Conveyancing

Advantages of debit cards

These cards have the following advantages:

  • Round the clock access to the savings;
  • Easy management of bank account;
  • The ability to convert the currency in a few seconds;
  • The possibility of transferring personal funds to another account;
  • Your money is always safe;
  • You can pay for goods and services in a matter of seconds, without using cash;
  • At any time, the client may block his/her card if it has been lost or stolen. In addition, getting another card after such incident is also done quickly;
  • The client always has free access to the Internet banking

Now you definitely  know all the differences of Debit cards from others.


Article writer, life lover, knowledge developer and owner at