Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

The Debit Cards- the Plastic Transaction

By Anni Subscribe to RSS | January 11th 2012 | Views:

The card with debit….

The plastic cards that allow the electronic access to the cardholder bank account are debit cards. When making purchases it comes to rescue as an alternative payment method for cash. The cards are designed exclusively for use on internet. The presence of the physical card is negligible. Some countries cater to the vast number of population of the cards in the market. The use of the debit cards has been such that it has overcome the check instance and cash money at a time.

How Debit works…..

The transfer of the funds using the debit cards unlike the credit cards, are immediately done from the bearer’s account. The user doesn’t have to pay back the money at the later date. The instant withdrawal of the cash can be done through the debit cards from the ATM machines. The withdrawal of the cash is done through ATM, which acts as a check guarantee card

The cash back facilities are offered by the merchants to the customers. Customers avail the facility of withdrawing the cash along with the purchase.

Types of debit cards…..

The cards can be categorized into online debit cards and offline debit cards (also known as signature cards).

Let’s discuss the former online debit card system:

• The user’s account reflects the debits and the transactions require electronic authorization.

• The security of the transaction is done through personal identification number (PIN). The transaction requires authentication for the enhanced automatic teller machine (ATM) cards.

• The electronic authorization device at the point of sale (POS) is the necessity. Sometimes PIN pad is used for PIN. The method or the technique is used for all card transactions in most of the countries.

The latter (offline debit cards) has a primarily a similar role.

The logos of major debit card companies are embedded on the cards. The different type of debit cards varies from countries.

The use of the debit cards is made like the credit cards (with payer’s signature).

A limit is set for the funds to be withdrawn in a day. The maximum amount may be set by the debit card companies.

What’s in store for you….?

The unlucky customers can now avail debit cards to make plastic transactions unlike some of the credit cards companies refusing the availability of the cards to the customers who cannot avail credit.

The check writing can be avoided with use of check cards for most transactions.

The funds are debited from the user’s account with check cards on the spot. The transaction is thus finalized at the purchase.

The security of the individual is protected with less identification requirement by the merchants. This saves time and makes the transactions quicker.

The higher fees and interest rate charged by the credit card are predominant and provide as an opportunity to the debit cards.

Anni - About Author:
credit card

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Investing Articles Subscribe to RSS

What to consider when applying for a credit card online
Published by Fiona Roy on April 23rd 2012 | Finance
Discover which type of credit card is right for you....
How can i get dependable credit card debt advice and exactly how could it benefit me?
Published by on March 27th 2012 | Finance
Credit card debt advice is a program provided by debt companies to help those people who are battlin...
Merchant Account processing type Merchant debit and Merchant credit card processing
Published by Eric Hannelius on January 18th 2012 | Finance
When you are doing the business your main focus is onto customers’ service provided to them so tha...
Why hire a credit card debt management company?
Published by Yossi A on January 12th 2012 | Finance
As a matter of fact, it not only clears your already existing debt but also offer valuable technique...
How to choose the balance transfer credit card offer?
Published by Alenpaul on January 19th 2012 | Finance
As many find themselves in debt with certain credit cards, and trying to renew their card ability th...
Procuring credit card in Australia had never been so easy
Published by John Matthew on December 27th 2011 | Finance
One of the best things that could have happened to the man in the present times was the easy availab...
Credit card debt Relief- There is Hope of Relief Yet
Published by James Blee on December 22nd 2011 | Finance
Some people after receiving their credit cards do not know how to use them wisely. As they are easy ...
Apply for credit card online and increase your liquidity
Published by John Matthew on December 28th 2011 | Finance
Credit card is one entity that has made millionaires out of the ordinary men, but at the same time t...
Top tips for money management and using a credit card
Published by Jesse Wallace on June 6th 2012 | Finance

Learning how to use your credit card effectively could help you balance and manage your debts....
Prepaid card-The credit solution
Published by Anni on March 2nd 2012 | Finance
A prepaid card is some card that you place your own cash into ahead of era so you can employ that ca...
Getting settlement when it comes to credit card
Published by Rajkumar Kaushal on June 19th 2012 | Finance
Getting settlement when it comes to credit card is not very easy sometimes because of the details an...
What precisely does Credit card debt help signify and just how can it benefit me?
Published by Deby Suportie on April 2nd 2012 | Finance
Credit card debt help is a support offered by lending companies to help those who are struggling wit...
Credit card types
Published by Fiona Roy on April 23rd 2012 | Finance
Discover the different types of credit cards available....
The importance of paying your credit card from Sears in time
Published by Alex Decosta on December 20th 2011 | Finance
One of the leading credit card companies, Sears has had a massive list of defectors based on its une...
Primary reasons to get a credit card processor online
Published by Neal on February 9th 2012 | Finance
There are countless advantages of having a merchant account or payment processor beside you. In this...
Understanding Christian and credit card debt settlement organizations
Published by Julia Roger on December 14th 2011 | Finance
With increasing debts among the majority of the population, people have started to seek professional...
What exactly is PAN card? What are it's benefits?
Published by Ema Sis on February 17th 2012 | Finance
PAN card can be an identification number issued with the Government of India under the Income Tax Ac...
Payday Loans No Debit card: a Modern approach to help you!
Published by Alisa Alison on June 2nd 2012 | Finance
Payday loans no debit cards are the quickest services facilitating borrower to meet urgencies withou...