There are many benefits debit card, including making purchases and payments easy, and safe. Many people enjoy the convenience of transacting without cash. The use of debit cards makes it easier for various transactions both offline and online.
A debit card combines the basic functions of an ATM card and a credit card to help you quickly access cash from your bank account. You can use a debit card for online purchases, cashier payments or even in digital wallet apps.
Every time you make a purchase transaction or payment via a debit card, the balance you have in the debit card will automatically be deducted immediately. More than that, it is important for us to know what are the benefits of debit cards for transactions.
Read also: Undestanding of Types of Debit Card
1. Free from Debt
The first benefit debit card is that it frees you from debt. Credit cards make it easy for you to buy whatever you want. However, this makes you have to owe the bank. With a debit card, you use money directly from your bank account.
Of course this keeps you from spending more money than you have. And most importantly, you don’t have to worry about having to pay credit card bills once a month.
2. Easy to Have Debit Card
If you have a bad credit record, it will be difficult for you to get approved for a credit card and your interest rates will likely be very high.
This is different from a debit card. Yes, getting a debit card is very easy. You just need to open an account at a bank and you will receive a debit card. The debit card does not require an application or a minimum credit score. So, you can apply for an account opening at any time at the bank.
3. Low Administration Fee
Usually, the monthly administration fee for a debit card is much lighter than a credit card. There are even some banks that do not charge administration fees for certain types of debit cards.
This is different from credit cards that provide interest rates. Moreover, if you are late paying your credit card bill, you will be subject to a late payment penalty.
4. Convenient to Use
Debit cards are very easy to use. Because payments are deducted directly from your bank account, the money is already there, and transactions can be made instantly. Debit cards make transactions fast, easy and convenient to use.
You don’t need to carry cash if you regularly use a debit card. If you need cash, you can stop by an ATM and take out as much money as you need. This is one of the benefits debit card that makes it easy and very practical.
Some of the benefits debit card can be considered for those of you who don’t have a debit card. Debit cards make it easy for you to transact wherever and whenever you want.