Debit Card
 Credit Card
A credit card is a way of payment by using the plastic cards which are issued to customers for their payment.
 |
Debit Card Features
Debit card is a plastic card which provides an alternative payment method to cash when making purchases. Functionally, it can be called an electronic check, as the funds are withdrawn directly from either the bank account , or from the remaining balance on the card. In some cases, the cards are designed exclusively for use on the Internet, and so there is no physical card.The use of debit cards has become widespread in many countries and has overtaken the cheque, and in some instances cash transactions by volume. Like credit cards, debit cards are used widely for telephone and Internet purchases, and unlike credit cards the bearer of the debit card doesn't have to pay back.Some debit card accounts allow you to establish a line of credit, where you can overdraw your account up to a specified limit. This makes the card effectively like a credit card, however the overdraw fees can be very high.Some debit cards offer a charge back feature similar to credit cards, where if goods are not delivered, or are of a substandard quality, you can officially charge that back against the retailer and get refund.Similarly, some debit cards provide a guarantee for internet transactions, where you aren’t charged for unauthorised or fraudulent transactions if you report them to the bank in time.
Debit Card Features :-
How do debit cards work?
|