A debit card is a bank product that allows your transaction from your bank account electronically. It is well known as Plastic money or plastic card. it provides a facility to withdraw cash from ATM machines too.
There are a few ways that individuals can use to pay to the merchant via Debit card –
The cardholder can swipe up the card To pay.
He can pay via waving the card on machine, The transactions will be possible by Contactless chip.
In Some Machines, You have to insert the card and enter the Four-Digit Security to do the transaction.
You can withdraw the cash direct from atm machine to pay the merchant.
Additionally, New Debit cards offer reward points on purchasing. Some Premium debit cards provide complimentary airport lounge access benefits like a credit card.
On Shopping from e-commerce websites, There is a new facility offered by Bank for Debit card holders can purchase in Monthly EMI.
What is CVV?
In Debit or credit cards, A 3 Digit PIN Number known as CVV. which is Stands For card security code. it is an additional security layer for providing good support on data during online transactions and card swipes.
Additionally, To find your card CVV number, you can check the CVV number back of your card.
What are the charges will applied on a debit card
There are very minimum charges that applied on a debit card compared to credit cards. To check the charges that will be applicable on a debit card – here is the list
Withdrawal Charge – in debit cards, there are withdrawal charges applicable when you withdraw cash from a non-affiliated bank atm.
Annual Charges – The annual maintenance charges are applicable to the of using a debit card. Moreover, choose wisely, There are few premium cards that have high charges and some cards are fully free.
Replacement Charges – Unfortunately, if you lost your card there is a replacement charge will be applied for a new card.