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Advantages of Visa Debit

By Richard Greenwood

Republish: EasyPublish™
Published: 01Apr2009
Word count: 515
Viewed: 370 time(s)

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You're out with friends on a shopping trip. You go into a little boutique and find the perfect dress for Saturday night's party but you realise that you don't have enough cash to pay for it. What do your do? Well, you have a couple of choices. You can use your credit card and pay all that interest on the purchase, or you can use your debit card.

Many people are opting to use a Visa Debit card as a convenient way to pay for purchases without paying interest fees on regular credit cards. The Visa Debit card works like a regular Visa Card but has some advantages that the credit card does not. Although many credit cards offer rewards and incentive programs, the Visa Debit card provides direct access to the funds you have set aside just for purchasing purposes.

In addition to controlling your spending habits, the Visa Debit card is accepted world wide and can be used over the phone, on the Internet, with the Postal Service and for retail transactions. It provides the security of not having to carry cash with you at all times in fear of either losing it or it being stolen. It can be used as a regular debit card with your PIN or can also be used as credit in which you sign for purchases. It has the versatility, functionality and security of a credit card and the fee free ease of a debit card.

Many financial institutions promote fee free EFTPOS purchases when making a purchase using CR instead of SAV or CHQ when you use your debit card. These cards offer a specified number of free transactions per month. However, exceeding this limit could cost you in transaction fees. With the Visa Debit card becoming so widely used, this system could see a change with recent reforms introduced by the Reserve Bank of Australia.

Although EFTPOS is widely accepted in Australia, it is not accepted throughout the world. This makes the Visa Debit card superior to EFTPOS because it is accepted at millions of locations throughout the world. EFTPOS has failed to keep up with consumer demands and does not allow merchants to accept EFTPOS cards online.

The primary interest of Visa Debit card users is that it is accepted world wide and can be used to make purchases through the Internet and at millions of locations. It is used with the Credit selection instead of cheque or savings. This is because it is processed by the Visa network rather than a local debit card network.

Visa not only offers a Debit card that is pre-paid, but you can also get a Visa Debit that is attached to your bank account and comes directly out of that account. This gives you more versatility when paying for purchases but can leave you spending more than you would with a pre-paid Visa Debit card. The choice is yours, pre-paid Visa Debit or one that is attached to your bank account. Either way, Visa Debit is quickly becoming the premiere debit card to use.

Article by Richard Greenwood who works for the Click 4 Group. The Click 4 Group run a network of finance comparison sites in Australia to compare credit cards and Visa debit cards online. As well as allowing quick and easy comparison of financial products from leading Australian banks and card issuers the sites also contain useful information and tips to keep your finances in order.

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