A debit card is a type of payment card that is usually linked to a bank’s savings account. Debit cards don’t borrow money like credit cards. You can spend or withdraw money through debit card based on the money in your bank savings account. With a debit card, you spend the money in your account, so it doesn’t have to pay the bill at the end of the month like a credit card. As a result you don’t have to pay extra dividend to the bank.
If you want to pay money by card and are afraid of extra bank interest or debt at the end of the month, then using a debit card is better for you. Debit card is linked to your bank account so you can use the amount of money you have in your bank account or the amount of money deposited.
Debit cards have advantages as well as disadvantages. Let’s find out about it.
Prepaid card is also a payment card like debit card but your bank savings account is not linked with this card, you can add money to the card and spend it in your next transaction. It’s like a gift card. You can add money to your prepaid card and spend time and time again.
Prepaid cards can be used for fixed or general transactions at certain retailers. But nowadays you can do almost all merchant or online transactions with prepaid card. However, since payment is not guaranteed with all merchants, it is important to have an alternative payment method.
Prepaid cards can be very convenient for buyers who want to stick to a certain budget. There is no need to look at any credit score in getting a prepaid card, so there is no problem even if your credit score is very low or non-existent.
It is not easy to say which of these two cards is the best. At the end of the day, it really depends on which card benefits you like the most and how you want to use your card. In fact, it is most beneficial to have multiple cards. This way you always have an alternative when your primary card runs into trouble.
ATM card is a very easy way to withdraw money from the bank. It is possible to withdraw money from anywhere in the country using an ATM card. There are still many people in our country who do not know what an ATM card is, how to withdraw an ATM card or what are its advantages and disadvantages. In today’s article we will know everything about ATM cards in detail.
ATM card is a card through which you can transact anywhere in the world from your bank or any supported ATM booth. Sometimes carrying cash in your pocket can be dangerous. In that case, you can use ATM card to withdraw money as you need. Basically the digital bank cards linked to the account are called ATM cards.
Although ATM card and ATM machine are two different things, there are many of us who think that they are the same. But literally ATM card and ATM machine are completely different things. An ATM card is basically a small card that contains a specific chip. On the other hand, the machines which are present in the ATM booth for withdrawing money are called ATM machines. ATM basically means Automated Teller Machine. This machine is connected to the online bank. These include cash notes. ATM machines are controlled by computers.
This card can be mainly divided into two parts. One is credit card and other is debit card. The working style of these two cards is different. A card through which you can transact money in excess of your deposited amount is called a credit card. This card basically allows you to borrow more money from the bank. On the other hand, a debit card is a card through which you can spend only as much money as you have in your bank account. Debit cards don’t offer the extra borrowing facility that credit cards offer. However, if you withdraw money from the ATM booth with a credit card, you have to pay a lot of extra charges.
ATM card is a type of modern technology that is very small in size and with that you can transact money through your bank account. In earlier days, one had to stand in line in front of the bank to withdraw or deposit money. Now it will be possible to withdraw it at any ATM booth 24 hours a day or night.
A customer has to follow certain steps to get an ATM card. They are –
Withdrawal using ATM card is very easy and safe. To withdraw money from ATM card follow the following steps –
Thus you can withdraw money from your bank account through ATM card. ATM card can withdraw fixed amount of money. However, the amount of this money varies from bank to bank. That’s why you should know your bank’s policy on how much money you can withdraw from an ATM card.
ATM card Benefits
Disadvantages of ATM cards
At present, in the era of modernization, ATM cards are making people’s lives easier. ATM card can play a very useful role if it is used properly.
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