Debit card
Debit card
Debit card is a modern exchange monetary plastic card. By the
debit card we can buy anything or payment instead of money. It is likely to
credit card but different to the credit card, the money comes from the user’s
bank account when performing transactions. Now that the use of debit card has
become so widespread.
Types of debit card:
1.
Online debit card: Online debit card require
electronic authorization of every transactions. The transactions are secured
with the personal identification number.
2.
Offline debit card: Offline debit cards have the
logos of major credit cards. This type card has limit daily or maximum limit
equal to the current account balance.
Advantages of the debit card:
1.
Easy to carry: The debit card is plastic card which
is easily carry anywhere.
2.
Safety: Debit card is used as instead of money
so that money cannot carry.
3.
Easy to buy: to use the debit card we can buy
anything instead of cash payment.
4.
No period: anyone can transaction anytime.
5.
Check the balance immediately: We can check the
balance anytime
Disadvantages of the Debit card:
1.
Fees: For the use of debit card bank must charge
fees which is greater than check issue.
2.
Cyber security: Sometimes PIN codes of card is
hacked and much hampered the account holder
