Debit Card Benefits and Loss – All bank account holders have access to the Debit Card because almost all the big banks provide debit cards to their customers along with opening of accounts. The bank account holders benefit greatly from this card. In addition to this, you do not have to engage in a long line of bank customers, you can withdraw your money from ATM within a few minutes. Even if you want to deposit money in the bank, you do not need to be in line because you can also deposit money in your account through ATM machine with debit card. If you have an ATM card, then you must know about the advantages and disadvantages of Debit Card, because having this information, you can use this card correctly.
By the way, even today there are many people who do not know what Debit Card is, then tell those people that it is a plastic card with the help of which you can withdraw the amount deposited in your account through ATM within a few minutes. . Not only this, you can shop online with this card. Today, online usage of debit card has increased to a great extent when online shopping sites like Amazon, Flipkart have arrived in India. Debit card is also commonly called ATM Card as it is used in ATM machines. So, now we know about the advantages and disadvantages of Debit Card, in the same way, like a credit card, this card has many advantages but its disadvantages are not less, so what are the advantages and disadvantages of this ATM Card.
Debit Card Benefits and Loss
There are many benefits of this card, due to which almost all account holders use this card. The biggest advantage of these is that you do not have to go to the bank to withdraw your money. With this card, you are saved from getting in the long line of the bank. This also saves your precious time. The other advantage is that you can shop online with this card. Today, much more online shopping is being done in India than before.
If you do not have a Debit Card, then tell them that you can apply for a Debit Card in your branch. For this, you will have to submit a form and within 15 to 20 days after submitting the form, your debit card will be sent to your home through the post office. The biggest thing here is that you do not have to pay any kind of fees for this. It is absolutely free to make it in many banks.
Benefits of Debit Card
- If you have this card, then you are saved from the long line in the bank. This can save you time in the bank.
- You can use this card for online shopping, which is becoming very widespread today. In the online site, you get your favorite item which you can buy with this card.
- Earlier, people had to go to the bank to transfer money, but since the use of debit card has increased, people have started using it to transfer money.
- With this you can recharge your mobile online, recharge DTH and electricity bill etc. Earlier, he had to go to his office to pay the electricity bill, but now you can do this work online.
- Like credit card, you can make payment on international website through debit card, however, for this your debit card should be enabled for international payment.
- If you want to enable internet banking in your bank account, then you can enable internet banking with a debit card without going to the bank.
Debit Card Loss
- If this card is stolen or lost, then there is a risk of misuse of it, however you can also block it from your registered mobile number in the event of it being lost or stolen.
- This card is also used online, so there is a possibility of fraud in it online, however, you can avoid online fraud by taking some precautions.
- If you use the debit card more than its daily limit, then you also have to pay the bank’s charge, although this charge is minor.
- You can withdraw millions of rupees in a day by going to the bank, but in this card you can withdraw only 40 thousand a day, if you need more money then you will have to go to the bank.
- When you withdraw money from ATM through debit card, sometimes money does not come out of ATM due to technical flaws but money is deducted from your account, in such a situation you have to complain to the bank.
- Most of the debit cards are not enabled for international payment, in which case you cannot pay on international website with these debit cards. For this, you have to get another ATM card from the bank.
So now you must have known what are the advantages and disadvantages of Debit Card, today you have learned that on one hand, while there are only advantages of ATM Card, on the other hand, there can be some disadvantages due to this card. In Advantage, you do not have to go to the bank frequently, you can do many banking work from your computer or smartphone from home. If you have an ATM card in Disadvantage, there is a possibility of fraud with you.