What is debit card? And how does it work.

Today we will learn about debit card. If you have a bank account, you must know what an ATM or debit card is, but if you are opening your account in a bank for the first time, you will have many questions about debit card. To solve your problem, today we will give complete information about debit card through this post.

By reading this article, you will find answers to many questions such as what is a debit card? What does a debit card do? What are the benefits of debit card? How do I pay with a debit card? So let’s find out today the complete information about debit card.

What is a Debit Card?

A debit card is a type of plastic card. Which we use to withdraw money from ATM machines and make online payments. The debit card is directly linked to our savings or current account. With which we can withdraw our money without going to the bank or transfer money or make transactions with the help of online electronic banking.

This card is fully prepaid. For this reason, the money raised in each of your transactions is deducted from your account.

On the front of the card is written the 16-digit number, the first 6 of which is called the bank identification number and the last 10 is the cardholder’s account number.

Also, on the back of the card is a 3 digit CVV (Card Verification Value) code. Which we use as a security code to complete online transactions.

Benefits to have a Debit card

• When you don’t have money in your pocket, you can withdraw from an ATM using a debit card, which is a direct link to your bank.
• Using it, you can now do things like online bill payment, mobile recharge, ticket booking and online shopping from home.
• You can use a debit card to buy an item at a store or pay a bill after having dinner at a restaurant.
• If you are going somewhere, you do not need to carry much cash. All you have to do is keep a debit card with you. Now you can block the debit card at that place if needed. If for some reason your debit card is lost, you need not fear because you need to enter a confidential PIN number to withdraw your money. Which is also known as green pin. Without which no one will be able to withdraw money from your debit card.
• Debit cards give us more security, so it protects the card from fraud and abuse in various ways.
• With debit card, you can easily know all the transactions through SMS alert.

Problems with debit cards

• If this card is stolen, there is a risk of misuse. However, in case of its rate or theft, you can block that debit card with your registered mobile number.
• Debit cards are also used online. So it is more likely to cheat online. But if you are careful, you can avoid online fraud.
• If you use more than the daily limit of debit card, you will have to pay some charges to the bank.
• You can withdraw as much money as you want in 1 day by going to the bank, but with the help of debit card you can withdraw only 40,000 rupees in 1 day.
• When you use a debit card through an ATM, money is sometimes deducted from your account. But if you do not get that money, then you have to complain to your bank. This is often due to technical errors.
• Most debit cards are not able to make international payments. In this case, you need to apply for another debit card or say that you need to use another ATM card.

How Many Types of Debit Cards are in exist?

There are several types of debit cards in India, some of which are: –

• Visa debit card
• MasterCard
• Ru-Pay debit card
• Contactless debit card
• Maestro debit card
• Platinum debit card

Rupay Debit Card –

This card was launched on March 12, 2012 by NPCI (National Payment Corporation of India), Government of India. Most of the electronic transactions in India are done for this reason. The idea was that the cards of foreign companies used in India such as VISA, Master Card etc. could avoid unreasonable charges and that the money should remain in India.

Visa Debit Card –

 This card is the most used card in India. Visa debit cards are the most popular in the world. It is a company in the United States.

Maestro Debit Card –

This card is also used by many banks in India. But we tell you that this card is not used by ICICI Bank. This card is owned by MasterCard.

Contactless Debit Card –

About 50% of transactions in India are less than ₹ 2000. Therefore, according to RBI rules, such transactions can be done without a card PIN, so a non-contact debit card has been created. These cards are issued by many banks. Transactions with this card are very fast.

MasterCard –

The most used card in the world or we tell you that you can use it abroad.

If the question arises in your mind what is the difference between all these factors, then I tell you that it is a payment processing network but there are some differences between them due to different network companies but all these functions are the same.

Debit card size

Debit Card Size 3.370 in X 2.125 in (88.66 mm X 53.98 mm) is a plastic card.

How does a debit card works?

First, we tell you what are the special points of a debit card that are used in every transaction.

• Debit card number
• Expiration date
• Card PIN Number
• CVV number
• Number letter grid
• One time password and
• Black magnetic stripe

ATM Machine /online transactions

To transact with this swipe machine, first swipe your debit card on this machine. At the same time, with the help of a magnetic strip installed on the debit card in that machine, it takes all the information from your bank and asks permission to enter the PIN of your card. After entering the PIN, the transaction process begins.

In the process of online transaction (which is online shopping or recharge), you need to enter the complete information of your card such as card number, expiration date, OTP, CVV, your name and PIN number. After entering it, you will receive OTP on your registered mobile number. Once entered, your payment is successful.

CVV mark letter grading and card number, expiration date are written on the card.

Some tips to keep secure your Debit Cards

• Always keep your debit card PIN secure. Do not share this with anyone.
• When transacting online, only transact on secure websites.
• Don’t give cards to anyone because there is a possibility of forgery without password.Do not share the OTP received on your mobile related to the card with anyone and delete it as soon as you use it.
• Do not give the mobile number registered in your bank account to anyone. In this case, your account may be stolen without OTP.

How to apply for a debit card

 This question is asked by many people because even today many people are not aware of this. So let’s get to know a little detail about it.

• However, when you open a new account in a bank. Be it savings account or current account. You are given an active card with passbook, checkbook. Which we also call ATM card.
• If it is assumed that the bankers did not give you a debit card. So no worries because you can get it easily so let us know how we can get it.

There are two ways to apply for debit card: –

• Apply for an online debit card
• Apply for offline debit card

How to apply for debit card online

To apply for an online debit card, you must first visit the bank’s official website. Which bank’s debit card do you use? For example, we know how to apply for SBI Debit Card online.

How to apply for SBI Debit Card online

Step 1 – To apply through SBI Debit Card Internet Banking, you must first login to SBI’s Internet Banking website. You can go directly to SBI login page by clicking here.

Step 2 – After logging in to SBI Internet Banking, you will see a dashboard. On top of which will come the eServices button. Similarly you will get the option to apply for SBI Debit Card.

Step 3 – After selecting the eServices option, the dashboard will open in front of you. Which will have many options and you will have to use the option of ATM card services.

Step 4 – After clicking on ATM Card Services, you will have 5 options in front of you. In which you have to click on Request ATM / Debit Card option to apply new debit card.

Step 5 – After requesting an ATM / debit card, a dashboard will open in front of you. Here you have to choose your name, what kind of debit card you want to apply.

• Here you will find the option to select many types of debit cards, but you will need to select the debit card according to your needs. If you only want to use your debit card in India. Whether it is offline or online, then you have to choose Rupay debit card.

• If you want to apply your debit card for online transactions or use it abroad, you can use Global, International, Visa or MasterCard.

• After using the SBI debit card type, you need to proceed by clicking on I Accept Terms and Conditions.

Step 6 – Now your address bar will open in front of you. In which you have to write that address. On which you need to distribute your SBI debit card.

Step 7 – Now you need to confirm your verification. In which you will get two options, first option OTP, one OTP will be sent to your registered mobile number and secondly your profile password, you can choose any option.

After all these processes, your debit card will be applied and within a few days you will receive your debit card at your registered address.

To apply for SBI’s new debit card, the bank will charge you ₹ 350 which will be deducted from your account.

How to apply Offline for Debit Card

1. If you want to apply offline for debit card, you need to go directly to your bank where you have your account.
2. There you have to go to your debit card counter. From whom should I take the application form for debit card?
3. As soon as you receive the form you will need to fill in all the required details that will be asked in that form.
4. After filling the form, the form has to be submitted at the same counter. After 15 to 20 days, your debit card will be delivered to the address you filled out the form.
5. At many banks, you are immediately given a debit card. At the same time, as soon as the debit card is received, it is activated with the help of PIN code.
6. This time, you need to keep your registered mobile number with you because your OTP comes in it. With which you can activate this card.

How to pay with debit card

We usually use debit cards to make online payments to withdraw money. Especially nowadays the use of debit card for online payment is much more. Even all e-commerce websites offer the option of paying through their website. If you shop online from Amazon, Flipkart, Snapdeal etc, you can also pay by debit card.

For this you have to go to select payment method. Here you will see many payment options. In which you need to use debit card.

Finally, you need to fill in your debit card details. Such as your name, card number, expiration date, CVV and then you have to click Continue.

Now you will get an OTP on the registered mobile number. Which you need to keep visible on your screen. Through which your transaction will be completed.

FAQ on Debit card

In this article we have given complete information about debit card, and hope it will be very helpful for you.

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