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debit card (photo: www.visa.co.id)
What is debit card ?
When you use your debit card to make a purchase, the funds for that purchase are immediately deducted from your bank account. Debit cards can be used for in-person purchases or online transactions. Many debit cards are also compatible with digital wallets, allowing for contactless payments at a variety of locations.
- Accessing ATMs
One of the key advantages of having a debit card is the ability to easily access cash through ATMs. ATMs are widely available and offer a convenient way to withdraw cash using your debit card. These withdrawals can often be made for little to no fees, at your bank's ATMs. Additionally, you can use your debit card at an ATM to log into your account and check your balances, as well as perform other services like bill payment or transferring funds between linked accounts.
- Cash withdrawals
Some merchants may offer the option of obtaining cash back when making a purchase with a debit card. This means that, in addition to the purchase amount, a cash withdrawal is also made from your account. This way, you can walk away from the transaction with both the item you purchased and some cash without having to visit an ATM. It is important to note that some banks may charge a fee for this type of withdrawal.
- The potential benefits of using your debit card are numerous
Firstly, there are various types of debit cards available, including some that offer rewards through brand partnerships between your bank and companies such as airlines and hotels.
Another advantage of using a debit card is the option to use a PIN for purchases. When making a transaction, you can choose the debit option and enter your unique PIN, which is the same four digits you use at ATMs to withdraw cash. This adds an extra layer of security to the transaction, as it cannot be completed without your personal identification number.
How to activate a new debit card
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photo: Money Task Force
A debit card provides convenient access to a variety of banking services, but it needs to be activated first. Whether you are new to banking or have received a new debit card, activating it is an opportunity to learn the process. Your financial institution will have specific instructions for activation, as the information provided here is general. Please follow the activation instructions given by your bank to ensure proper activation of your debit card.
Before you start using your new debit card, it needs to be activated. This process links your identity to your account and alerts the bank that you have received the card. These steps are important for ensuring the security of your account.
There are several methods for activating a new debit card, including:
- Activating a debit card by phone
You can activate your debit card using your mobile phone. Here's how:
1. To activate your debit card, you can call the bank's card activation number, which is usually printed on the activation sticker on the front of your card.
2. During the call, you will be prompted to go through the activation process, and you can also speak with a customer service representative for assistance if needed. Simply follow the instructions provided during the call to complete the activation of your card.
3. If you happen to lose the activation sticker, you can still activate your debit card by calling the phone number listed on the back of the card.
- Activating a debit card online
Another option available through your bank is to activate your debit card online. To do this:
1. Go to the website address provided on the activation sticker on the front of your card, or log in to your bank's online banking portal. This may vary depending on your bank.
2. Have your debit card ready as you may need to provide information from the card to complete the activation process.
3. Follow the on-screen instructions to finalize the activation of your debit card.
- Activating a debit card at an ATM
You can also activate your debit card by visiting your bank's nearest ATM. Here's how:
1. Take your debit card and the pre-assigned four-digit PIN provided by the bank to the ATM.
2. Insert the debit card into the ATM and enter the PIN.
3. Follow the prompts on the ATM screen to complete the activation of your debit card.
In conclusion
debit cards offer convenient and flexible ways to make payments and access cash while on the go. These cards can be used with mobile apps, by dipping or tapping, making the payment process easier and more efficient. Once you have activated your debit card, you will have access to all of these features and more.
Read More: How to Get a Loan with Bad Credit
Source: https://www.chase.com
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