Definition of Debit Card
What is a debit card? This card is a means of payment or a tool used to withdraw money at a predetermined bank. With a debit card, you don’t have to carry money everywhere. Imagine if you want to buy things that are worth millions. You do not need to have to prepare and carry that much money in your bag.
In addition, things like this are also at risk of various unwanted things. One of them is prone to thieves. It’s different when you use a debit card. You just need to prepare the card and then you can withdraw money to buy the things you want.
The benefits you get when you use a debit card make many people prefer to transact using this card. Guaranteed that your transactions are safe and effective. The process is fairly fast so you don’t have to wait long. Actually there are several types of debit cards that you can use according to your needs. Each bank comes with a different type of debit card.
But in general the order of the cards is silver, gold, and finally platinum. For each stage the card has its own limit or limit. So, the higher the level of the card you have, the greater the limit or limit that the card has. That way, you just have to adjust roughly which debit card you want to use for daily transactions.
Advantages and Disadvantages of Debit Card
After knowing the meaning and function of a debit card, the next information that we present is the advantages and disadvantages when you transact using this card.
1 Advantages of Debit Card
Some of the advantages when using a debit card include:
- Money is not a loan from a bank
- Shopping is made easier because you only need to swipe the card on the EDC machine which you can already find in restaurants, supermarkets, and also department stores
- You can make transactions in large quantities as long as it is in accordance with the balance you have
- Administration fee that is not too big
- You can withdraw money at the ATM machine that is available when you need cash
- You will get other facilities such as electricity, credit, and also money transfer
- Savings can move wherever you go
- You will get promos or discounts when using certain bank debit cards
- Debit cards make it easy when you want online shopping
2. Lack of Debit Card
Meanwhile, the disadvantages of using a debit card in transactions are:
- Cannot make transactions exceeding the balance limit in the account
- Even though there are promos, the promos offered are not as much as when you use a credit card
- Vulnerable to crime when your card is lost, your pin is discovered, or your debit card is stolen
- Sometimes we have difficulty taking money because the ATM provided by the bank is not too many