Understanding what is a Debit card
All banks offer debit cards. A debit card is a payment card that makes it convenient to make payments by deducting money directly from your bank account.
Unlike a credit card where the bank offers you a loan to make purchases with your credit card. You may only pay for items with your card if you have the cash in your bank account or when you have an overdraft facility linked to your account.
Advantages of a Debit Card
- You do not have to carry cash.
- All retailers now offer payment by card.
- No, fees. Check your terms and conditions some banks offer free or 10 to 15 free card payments.
- You may activate your card to make online purchases.
- You avoid unnecessary debt.
How To Debit Card Prevent Fraud
- Never share your card pin.
- Keep your card and CVV number private if your card is activated for online purchases.
- Cancel or report a lost or stolen card immediately.
- Set withdrawal and payment limits on your card.
Contact Your Bank To Report Lost Or Stolen Card
You may also use your banking app to cancel your card.
