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There are a number of banks in India that offer rewards on their debit cards in the form of cashback. The cashback can be redeemed by the customer and used for future purchases.

Apply for a Debit Card

Do you have an Debit Card from any Bank?

What is Debit Card

Debit card is popularly known as easily accessible plastic cash, which offers electronic access to your savings account in any bank via ATM machines or card swipes. It has functions similar to those of credit cards, with the major difference being the fact that the amount is directly and immediately deducted from the user’s account instead of the money being paid by them at a later date. They have got names like bank cards, cash cards or check cards.


With the widespread usage of debit card in the world, a debit card issued from one country is often valid to be used in some other country. Debit cards may also be used for making payments of the purchases made over phone or internet. You can apply for debit card online or offline. Nowadays you might not even need to apply for a debit card to get one, because it is readily offered if you open a new savings account.

How to apply for Debit Card Online?

You can apply for a Debit Card online with these five simple steps

apply

1. You can visit your bank’s website and apply for a debit/ Credit Card in the personal banking/ retail banking section.


2. Within Debt Cards as well, you can choosewhich category you wish to apply for. This decision has to be made depending upon the benefits and requirements that you are seeking through the use of Debit Cards.


3. Once you have submitted your details and the required documents (Most of which is already available with the bank and is required only for updates or verification purposes), you need to wait for 2-3 days before receiving the card.


4. Along with the card, you will also receive a set of confidential information, like Personal Identification Number or PIN.


5. This PIN is to be used for all transaction and payment purposes. Once you have the card and the PIN, you can transact using your card anytime you want.

Types of Debit Cards in India

Nowadays you might not even need to apply for a debit card to get one

1.Visa Debit Cards

These debit cards are issued with the bank’s tie-up with VISA payment services providing the Verified by Visa (VbV) platform for online transactions

2.Visa Electron Debit Cards

Visa Electron debit cards are very similar to Visa debit cards but these cards do not provide the overdraft feature.

3.MasterCard Debit Cards

A MasterCard Cirrus Card or a MasterCard Maestro Card gives customers access to their funds worldwide and they can perform online transactions using their bank accounts on the MasterCard SecureCode platform.

4.Contactless Debit Cards

Customers can make payments with just a tap or wave of their contactless debit cards near PoS terminals, with the cards working on Near Field Technology (NFC) thereby making electronic payments safer.

5.RuPay Debit Cards

Introduced as a domestic card scheme by the NPCI, RuPay debit cards facilitate online purchases and transactions on the Discover network and ATM transactions under the National Financial Switch network.

6.Maestro Debit Card

Founded in 1992, Maestro from MasterCard is a premier, international debit card service that has been popularly adopted at over 13 million locations spread across 100+ countries around the world.

Benefits of Debit Cards

1. Using Debit card is a safe and secure option and it is a good alternative for cash, because it reduces the risk of fraud, theft and misuse

2. Debit cards are easy to carry, can be handled easily and can be conveniently utilized while travelling in comparison to cheque book or cash.

3. With a huge number of ATM machines available all around, Debit card offers both the ease of instant cash and the provision of merchant transactions at Point of Sale (PoS) terminals.

4. Using debit cards for purchase is also a rewarding experience because of its features like cash back offers, bonus points, free insurance coverage along with a range of redeeming options for the points accumulated.

5. Debit cards also helps in keeping a track of your spends. Regular email and SMS alerts with the details of transactions made through debit card helps in maintaining a record of your expenditures. Also one can make the most of their debit card by making use of a feature called customization of add on benefits.

Debit Card vs. Credit Card: An Overview

1. Many debit cards and credit cards have similar features. Typically, both cards carry the logo of a major credit card company, such as Visa or MasterCard, and both can be swiped at retailers to purchase goods and services.

2. However, the key difference between the two cards is where the money is drawn from when a purchase is made. When a consumer uses a debit card, the money comes directly from his or her checking account. When he or she uses a credit card, the purchase is charged to a line of credit for which he or she is billed at a later date.

3. A debit card may come with an overdraft line of credit connected to a customer's checking account to cover overspending. A credit card has a specified amount of credit connected to it, and if a consumer tries to spend beyond the credit limit, the card will be denied.

How to prevent Debit Card Frauds?

1. Avoid using any online portal for making payments unless you are too sure about it.

2. Avoid making use of card reading instruments that are damaged, mismatched or seems to have an ill-fitting at any publicly accessible kiosks placed outdoor. Such kiosks may have hidden skimmers which may leak your debit card credentials to unauthorized sources

3. Be precautious while handing over your cards to someone, especially if it leaves your sight. For example while giving your card to a waiter/waitress at a restaurant, keep a track of the time they take to get back to you.

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