Debit cards linked to bank accounts

Published on 15 July 2012 by Raffick Marday

Flexibility And Freedom That You Can Enjoy With The Use Of Debit Cards!

Debit cards which are tied with major credit cards of the world have become very popular these days. Those trying to develop a habit of itemized spending definitely benefits from the use of debit cards. The cards are directly linked to the bank accounts of the cardholder.

The basic idea behind use of these cards is you are free from writing cheque every time you want to make any transaction. The cards can also be used as ATM cards. There are a number of banks which do not levy any additional charges for accessing the ATM. The debit cards are issued by banks after opening of the savings account. You can however choose from the credit cards and the debit cards offered. While you choose the debit cards, the amount that you spend gets deducted from your account directly. In case of the credit cards, the amount gets added to the monthly card payments.

The Deduction System In The Debit Cards:

The deduction system in the debit cards are mainly of three kinds and these are e-purse system, offline debit system and online debit system. In case of the offline debit, no online transaction is required. There is no pin numbers involved in this case. The total amount spent on purchases gets deducted from the account within 2-3 days. In case of the online debit systems, there is a secret pin number given which must be used in cases of transactions. This helps to secure the card during online processes. The e-purse system is a different electronic savings that remains connected to the card. You can replenish this with funds that are available in your account

Advantages Associated With The Use Of Debit Cards

People with poor debit scores find it difficult to apply for credit cards and it is in this case that the debit cards play very important roles. The application for debit cards gets submitted very easily in this case. The banks are definitely a lot more convenient in this case. Apart from this, the risk of the high unpaid debts also gets reduced to a considerable extent and the improvement in your credit scores gets reflected automatically

The risk associated with high unpaid debts also gets reduced to a considerable extent. The cards work like the cheque systems, however the good news is that the cards offer simpler and faster transaction facilities. So when it comes to managing the finances and the expenses, the debit cards are definitely a very good option.


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