Do you want a debit card but are unaware of its uses and benefits? Do you confuse debit cards with credit cards? Yes, debit and credit cards are plastic cards, but you should first know that debit cards are slightly different from credit cards. So, before you apply for one online, you should understand what a debit card is and its various uses. So, here you will get to know everything about the debit card and the different steps to apply for it.
So what do you mean by a debit card?
A debit card is a plastic card issued by financial institutions, banks or online banking platforms. We can define it as plastic money or currency you can use to purchase things when you do not have sufficient cash to make a payment.
Who can apply for a debit card?
The savings account holder can apply for a debit card through which bank or financial institution the account is registered. The bank or non-banking financial institutions link your debit cards with your savings account to record all transactions in your bank account statement. The monthly statement will help credit card users track their expenses.
How can you apply for a debit card?
It is very easy, convenient, and fast to apply for a debit card. You are not required to go through any physical documentation process to apply for a debit card. Instead, you can easily apply for a debit card online from the comfort of your home using an online banking app. You can apply for a debit card by following a few quick and simple steps, which are as follows:
- First, install an online banking app on your mobile phone or visit the official banking website.
- Then provide your basic details, such as your full name, email address, etc., and register with the app or website.
- Then check the eligibility for getting a debit card and apply for one if you are able to fulfil the eligibility criteria.
- Submit the required details and complete the documentation and verification process.
- Once you have submitted the application, you should wait two to three days for approval.
- And when your application is approved, you will get your debit card delivered to your doorsteps, including your personal identification number (PIN) and other required and essential things. And you can start using your debit card for making transactions using your PIN.
So by following these simple and quick steps, anyone can apply for a debit card online.
What are the advantages of using a debit card?
Are you wondering why you should use a debit card? So, you should first know the various advantages of using a debit card, which is as follows:
- It is convenient to use a debit card to make payments anytime.
- You can use a credit card to make payments for various purposes, such as paying for shopping, bills, and other expenses.
- You can also get EMI options on debit cards. So, you can pay your debit card bill in instalments.
- You can also earn rewards while making payments using your debit card.