Advantages of Debit Cards

Author: Dawn Boddy


With a debit card, you are able to be more accountable for your spending. As a consumer, you are effectively making your purchase in cash- that is, with money that you actually have, as opposed to money borrowed on credit. You are also able to view your debit card transactions on your monthly statements or on your online banking account making it easier to track what you have spent your money on.


There is extra security to owning a debit card. While cash that is lost or stolen is gone forever, a lost or stolen debit card can be reported to the bank, turned off and charges can be investigated and possibly recovered. Debit cards protect against theft because no one is able to use your card at an ATM without knowing the PIN. The recent addition of chips to debit cards offers further protection.

Minimal Fees

Unlike credit cards, there are no interest charges on debit cards. And with the exception of minimal foreign ATM fees and replacement fees, there are no other fees attached to the debit card. You can save a lot of money by not paying interest, late fees and annual fees.

Eliminates the Need for Checks

Using a debit card helps to eliminate the need for checks. Writing checks has become somewhat outdated, with many retailers opting not to accept checks. The cost of printing checks as well as shipping and handling costs have also been on the rise in recent years.

Easy to Acquire and Easy to Use

There are no credit checks or lengthy paperwork processes to obtain a debit card. You are able to request a debit card at account opening or by visiting a bank representative with a simple acceptance of terms and a signature. Visa debit cards are widely accepted at many merchant locations.

If you have any questions or would like to apply for a debit card, give me a call or visit one of our banking centers.