Advantages of Debit Card

1. Even if you do not have money, you can withdraw from the ATM machine using a debit card, which is directly linked to your bank.
2. Using this, you can now do things like online bill payment, mobile recharge, ticket booking and online shopping sitting at home.
3. You can use a debit card to buy an item in a shop or to make bill payments after dinner at a restaurant.
4. If you are going to roam somewhere, then you do not need to take much cash. You just have to keep your debit card with you. Now you can block the debit card in that place if needed. If for some reason just if your debit card is lost, then you do not have to fear because you have to enter a confidential PIN number to withdraw your money. Also known as green PIN. Without which no one can withdraw money from your debit card.
5. Debit card gives us more security, so it protects the card from fraud and from being misused in many ways.
6. Through debit card, you can easily know all transactions through SMS alert.

Disadvantages of Debit Card

1. If this card is stolen, then there is a risk of misuse. However, in case it is lost or stolen, you can block that debit card with your registered mobile number.
2. Debit cards are also used online. Therefore, the chances of online fraud are more in it. But if you take precautions, you can avoid online fraud.
3. If you use the debit card more than its daily limit, then the bank has to pay you some charges for it.
4. By going to the bank, you can withdraw as much money as you want in 1 day, but you can withdraw only 40000 in 1 day with the help of debit card.
5. When you use a debit card through ATM, sometimes money is deducted from your account. But you do not get that money, in this case you have to file a complaint with your bank. This is sometimes due to a technical fault.
6. Most debit cards are not enabled to make international payments. In this condition, you have to apply another debit card or say that you have to make another ATM card.

What are the types of debit cards?

There are many types of debit cards in India, some of them are the main ones: -

• VISA Debit Card
• Master Card
• Ru-Pay Debit Card
• Contactless Debit Card 
• Maestro Debit Card 
• Platinum Debit Card

This card was launched by the National Payment Corporation of India (NPCI) of the Government of India on March 12, 2012. Most of all electronic transactions in India should be done for this reason. It was brought thinking that it could avoid paying unnecessary charges to the cards of foreign companies used in India such as VISA, Master Card etc. and that money should remain in India.

Visa Debit Card – This card is the most used in India. Visa debit card is the most popular in the whole world. It is a company of the United States of America.

Maestro Debit Card – This card is also used by many banks in India. But let us tell you that this card is not used by ICICI Bank. This card comes under the ownership of the Master Card.

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 contactless debit card has been created. This card is provided by many banks. Transactions through this card are very fast.

Mastercard – Is the most used card worldwide or let us tell you that you can also use it abroad.

If the question is arising in your mind that what is the difference between all these reasons, then let me tell you that it is a payment processing network, but due to different network companies, there is some slight difference between them but the work of all of them is the same.

Size of Debit Card

The size of a debit card is 3.370 in X 2.125 in (88.66 mm X 53.98 mm) with a plastic card.

How debit card works

First of all, tell which are the special points of the debit card that are used in every transaction.

• Debit Card Number 
• Expiry Date 
• Card PIN Number 
• CVV Number 
• Number Letter Grid 
• One Time Password 
• Magnetic strips made of black color

Atm machines first swipe their debit card into this machine to transact with this swipe machine. At the same time, with the help of magnetic strips in the debit card in that machine , it takes all the information from your bank and asks you for permission to enter the PIN of your card. After entering the PIN, the transaction process starts.

In the process of online transactions (which you have to enter online shopping or recharge) you have to enter the complete information of your card i.e., card number, expiry date, OTP, CVV, your name and PIN number. After entering this, you get OTP on your registered mobile number. After putting it, your payment becomes successful.

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