For many people, the advantage debit card is that you don’t go into debt while using it. Yes, because every transaction you make with a debit card directly cuts the money in your account. With a debit card, you don’t have to worry about monthly bills and there won’t be any interest charges every month.
Behind the advantages, there are also disadvantages of debit cards. If you run out of money, your debit card cannot be used. If you have unplanned expenses, you may not have enough money in your account at that time to make cash withdrawals, purchases, or other important transactions.
Even so, the advantage debit cards are far more than credit cards, especially in saving money. The following are some of the advantages of debit cards that you need to know:
Easy Debit Card Making Terms
How to get a debit card is very easy. You only need to go to the nearest bank with certain requirements. Usually enough with an ID card, NPWP (if you have one), and provide a minimum deposit. The amount of the first deposit for savings varies in each bank.
No Annual Fee
Using a debit card is also inexpensive. Debit cards often don’t charge an annual fee as some credit cards do. Usually debit cards only charge a very light administration fee.
Withdraw Cash Easily
Another advantage debit card is that they can withdraw cash easily and quickly. If you need cash, you can collect it at an ATM affiliated with your bank.
Unlike credit cards, there are no interest charges on debit cards. This is because the money is directly debited from your bank account. In addition, because the debit card is directly connected to your bank account, you can easily get money from an ATM.
Preventing Excessive Debt
One of the advantages of a debit card is that you don’t go into debt when you use it. You can limit your spending according to the money you have in your account. Debit cards prevent you from going into debt and save you from monthly bills and interest.
Credit cards do help you buy anything, even when you don’t have any money. But with a debit card, you have limitations because you are spending directly from your bank account. Debit cards always set limits on the user before swiping the card.
The right choice
A debit card can be the right choice for you. On a debit card, there are no fees, no interest rates, and no credit scores. You only spend what you have in your bank account.
The advantages of a debit card are quite a lot so you don’t have to hesitate to have one. Moreover, making a debit card is very easy. You simply apply for an account opening at the bank and you will get a debit card.