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Benefits Of Using A Debit Card

In this age of plastic money, it makes better sense to have a Debit Card than carry cash around. In a cash economy like India, a large majority of people prefer to pay with the money they have. With its high level of security (PIN and EMV chip), lightweight and compact form, a Debit Card gives you access to all the money you have in your account and saves you from the hassle of needing change and carrying too much money around.

Debit cards are fast becoming the preferred plastic in a country like India for the perceived ease and control over spending in the course of using one. Also banks have simplified the process of applying for a debit card by linking it with most Savings Accounts. There are special cards linked to different types of accounts with an array of benefits and rewards for customers to enjoy.

You can use your debit card to carry out several functions such as to withdraw cash at an ATM machine, pay for a purchase online or at a store and even make payments over the phone if required.


The major benefits of paying with a debit card instead of paying with cash, cheque or a credit card can be encapsulated in the following points:

Convenience. With the widespread availability of POS terminals, paying by Debit Cards is a time saving mode of payment as compared to cash or cheque.

Cash access. You get easy access to the money in your account and can withdraw a specific amount of cash from any ATM as per your need. Keeping the money in the account helps earn interest on it as well.

Spend in a budgeted way. With SMS and email updates (bank dependent) for every withdrawal, a Debit Card keeps you updated about the money you have in your account and saves you from spending beyond your budget.

Easily issued. Most banks provide Debit Cards linked with your savings account so you don’t have to apply separately for a Debit Card.

International Usage. Depending on your requirement, banks provide Debit Cards that can be used in other countries as well. This saves you the time spent in arranging for foreign currency.


With the standardization of EMV Chip enabled debit cards and implementation of security measures like entering PIN for both online and POS transactions, paying with a Debit Card is more secure than before. A Debit Card allows the convenience of not having to carry cash and keep a track of your expenses. And in the unfortunate event where your Debit Card gets lost or stolen, the lost card liability protection safeguards you from bearing the expenses from unethical card usage between the time of loss and the time of reporting. All this makes a Debit Card the safer and smarter way to pay.

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