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All About Debit Cards

By Sherry Tingley

Republish: EasyPublish™
Published: 15Nov2009
Word count: 518
Viewed: 210 time(s)

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Everything seems to be advanced by new developments in technology, even banking and payments. Now, you can shop cashless, thanks to debit cards. In the US, almost everyone has one. They are of great use and help. If people can learn how to manage or control their use then they are a great resource.

One of the very obvious advantages of using debit cards is that eliminates the need to write checks. For people on the go (those who value greatly every seconds), debit cards are their next best friends. In times when we are in a hurry, we can just swipe our debit cards and payments are done. Another advantage of debit cards is that payments are made easy and hassle-free.

Debit cards, or also known as electronic checks, can be used to pay for products purchased online. They make online shopping very convenient. So the next time you shop online you can feel confident making a secure purchase. Now, you can also receive instant alerts and confirmation for your payments made through your account. You will receive a text message once payments are made. This new feature of debit cards is very a helpful one.

Debit cards are issued to bank clients with checking or savings accounts. Most of the time, banks can issue the cards as soon as you open a checking or savings account or they can just send you your card through mail. All transactions and payments made using your card will be credited to your checking account. Once you obtain your card, the next thing to do is activate it using an ATM, or by visiting the bank website.

Most, if not all, banks in the US issue debit cards. The very first bank to do this is the First National Bank in Seattle. They have been of existence since 1978 when the First National Bank of Seattle issued debit cards to their clients, mostly business executives, with large savings account. Since then, US banks such as HSBC, Bank of America, Citigroup, Wells Fargo, Citizens Bank and many more have been issuing debit cards.

It is also because of technology that there have been a growing number of fraudulent activities or uses of debit cards. The best thing to do is never share your PIN with anyone. It is better to be safe than sorry in the end. There might also be people who contact you by email or phone and ask for your PIN and other details. Do not ever give your PIN to these people. There have been a growing number of phishing scams, so beware. Another tip to avoid fraudulent use of debit cards is don't write down your card PIN on your debit card. There are people who do this (those who can't remember their PINs). Do not be one of them.

With the fast advancement of technology, who knows how these cards will be used in a year or so. Surely, they are very useful and advantageous. Once you fully understand how these debit cards work and what their uses are, you will feel more comfortable using them.

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