Prepaid Debit Card
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What is a debit card?
These issues are also of great consequence as your personal information may not be safe unless you use these products properly and at this point, credit based cards are more dangerous due to the acceptance of their use. Nevertheless, both products need to be used consciously and any documentation you receive should be disposed properly to avoid strangers from getting hold of your personal data and use it for illegal or fraudulent purposes.
Who can apply for a debit card?
Anyone can apply regardless of his or her nationality, country of residence, credit history or status.
How secure is my money with debit card?
Usually. There is a fee associated with the card, but, depending on the purpose of the card, the issuer may decide to absorb that cost as part of its service. For example, an employer that uses debit card to pay its employees may cover the cost of the cards rather than passing the cost along to its employees.
Can I find out how much money is in my debit card account? Or do I have to keep track of that myself?
You can see your card's balance, along with any transactions applied to your card, on the secure debit card Web site.
Is debit card better than using check?
Cash stored on a debit card is available immediately. If you send a check as a gift or to transfer money to relatives ""back home"", the recipient's bank usually puts the money on hold for at least a few days, and often a few weeks, until the check ""clears"". Cards can be refilled quickly and easily. When you use check to send gifts or transfer money, if you want to send another gift or transfer more cash to the same person, the recipient has to wait for the check to arrive and the bank to clear it.
What What These Products Share?
Using a debit card to pay for your purchase does not alter the store's refund policy. If the store normally allows refunds on returned merchandise then they will provide a refund on something purchased with your card. If you return merchandise, it is up to the merchant whether to issue a cash refund or to transfer the money back onto your card.
Can I use my card to pay bills?
Not right away. To ensure that your money is safe, you need both your card and your PIN to get at your money. However, if you forget your PIN.
What should customer do on receipt of DEBIT CARD?
It is definitely a lot easier to buy products on the internet by means of a credit card. Payment intermediation services that allow you to use a debit card require verification processes that are otherwise not necessarily. Therefore, when it comes to online shopping we need to point out that there are significantly differences between these two financial products.
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