Features of a Debit Card

10 September 2016 | 1145 Views | By Mint2Save

Making payments of purchases made with out carrying and cash or finding shortage of money in cash was a dream. But, introduction of `debit card` facility has brought a dream come true.

Your bank, with which you have an account(saving/ current one) shall issue a debit card upon a request made accordingly, to the bank authority. This card is handed to you with certain instructions / cautions to be followed to ensure safety and security of card along with procedure to use. The prime one is the PIN (Personal Identity Number) which is unique. It should not be made known to any one else than to you your self.

To operate it for needs regarding withdrawal of cash through ATM or making payments through swap machine, you will have to insert the card into the slit/slot of ATM wherein after that you are asked to enter the PIN allotted and further enter the amount you need/ desire to withdraw or ask for the statement for the last 10 transactions made in the latest past and balance available in your account to facilitate the withdrawal of money. If required, the debit card can be used to make payments against the purchases made, handing the same to the shopkeeper who with the swap made with the swapping machine available with him.

In both the cases, you are comforted by this facility against the burden of carrying hard cash which carries a threat of pickpocettong, theft,robbed and so on; withdrawal of cash through the ATM per you need, in emergency and make instant payment against purchases made with bothering to carry and count the cash. Certain shopkeepers give handsome discount against the payment made through debit card.

In other words, the salient features of debit card can be summarised as here under:-

A unique facility to carry your bank account in your pocket/wallet.
A unique facility to with draw cash as and when required and get a statement of last 10 transactions and know latest balance in your account.
A unique facility to do shopping and making payments against purchase instantly without carrying cash.
A unique facility to get rid of burden/fear of carrying cash in thick/swollen wallet/ purse, and, losing it through pick- pocketing ,robbery, theft and so on.
A unique facility to enjoy making on line payment of bills electricity/water/telephone/mobile phone and so on.(for availing this facility you are required to get registered with you corresponding bank).

There are a few draw backs with this facility that can be understood by the facts narrated as below:-

The withdrawal of cash through ATM is limited to certain amount for one day -a hinderance.
The disclosure of PIN and other related details to an un-authorised/fraudulent person may lead to mis-use of debit card in drawing money fro your account in a forged/fraudulent manner. Hence, never disclose any information related to your debit card to any body else under any condition.
If, unfortunately, you happen to lose your debit card immediately inform the bank authorities and ask to immediately freeze the operations through the card and,lodge a F.I.R. and submit its copy to the concerned bank authority.

In nut shell, enjoy the debit card facility to ease the banking but, with caution and sincerity.