Debit cards are amazing financial tools that came into existence in a bid to provide a lasting solution on how we can easily access money from the bank in a more secure, easy and fast way. But while most people probably have a debit card, they still do not understand how it works, the key features it has or know some of the advantages it brings to the table.

Here I will be unravelling the debit card from start to finish, taking you on a step by step journey to help you understand and take full advantage of all the features and benefits it gives you as well as how to cut down on fees in order to maximize your everyday spending.

Debit Cards: How Does It Work and Why Should I Use Them ?

Owning a debit card comes with a lot of benefits, one of them being more financial freedom and flexibility but unlike credit cards, debit card comes with an amazing feature that saves you from falling into debt. Yes, you read that right because unlike a credit card, debit cards draw funds directly from your linked checking account, so no matter what you do or the kind of purchase you make you can never run into debt while using a debit card because you are only allowed to spend what you have in your bank account at the time of purchase.

Regarded as the best alternative to using checks or cash, debit cards also provides you with a more secure and convenient way of makeing payments online and over the phone from the comfort of your house.

So, you know what a debit card is - now it’s time to breakdown the details that you need to know when using one. And that means checking out what features are going to be available to you and what fees you might be hit with.

Debit Card Features and Fees

The fact there is, most debit cards carry out the same task however, some do it a little bit differently. Lots of banks try to stand out and distinguish their services from the rest by adding features that can enhance your card use. Sometimes, these added features vary based on the type of account linked to it. The kind of features you will want added to your debit card will largely depend on the the financial institution you use and what their policies are. Here’s a rundown of the features you might expect to have at your disposal.

Card Make

Debit cards have different makers, some very popular while some are not that popular. The one you will end up using will all depend on your personal preference and the card maker your bank is working with. However, you do want to make sure it is a popular card maker that is accepted globally as this comes with its own benefits which includes a wider range of options on where and who accepts your debit card.

ATM Access

Another major use of the debit card is to withdraw money directly from your account without needing to first step into the bank. This withdrawal can be done through an ATM. You will want to take into consideration the kind of fees being charged by the bank before you choose a bank or debit card. While some banks will allow you carry out diverse transactions on different ATMs using debit card for free others may charge fees. You should also be aware of fees for transactions such as:

• Fees for point of sales purchases
• Cash back fees
• Foreign currency conversion fees and rate difference
• Fees for ATM withdrawals both within and outside the bank’s ATM network
• As well as international debit card use fees for everytime you use your debit card overseas

Overdrafts

Adding an overdraft to your bank account is an amazing way to provide yourself with that extra protection you need incase you run out of cash while shopping. With the overdraft feature, your bank will help you cover the bills and expect repayment later on.

This feature is totally optional and it costs a high fee too.

Chargeback

Debit cards works pretty fast and sometimes you might end up paying for bad services or spoilt goods. To solve this issue, financial institutes came up with the chargeback option. With this option you can easily contact your bank to request a certain transaction be reversed or stopped. This way you can easily get your money back.

Rewards Options

Debit card comes with a lot of reward options which might include special offers, cash backs or gift offers. To get more information about the kinds of rewards entitled to you for using your debit card, please contact your financial institute.

Conclusion: Debit cards are great alternatives to other means of payment, it also brings with it a simple way to transact and monitor your spending habits. This way you can always stay in control of your finances.

In the next article I will be talking about some of the security measures you need to take, as well as giving you some tips and tricks to help you keep your debit card secure and protected from fraudsters all the time.

Some bulk generated debit card numbers

Guys, these generated numbers are for software verification. They will not work in purchase transactions.

Latest 2019 Bulk Debit Card Generator with complete information

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