2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The most important difference between debit cards and credit cards is that a debit card uses your own funds, while a credit card uses bank funds.
Debit cards are like a modern day passbook. Top up your balance and the money is saved in your bank account. If required, you can withdraw funds or, conversely, deposit.
Debit cards do not differ in their functionality from other types of bank cards. They make it possible to pay for goods and services, withdraw cash, make money transfers, track your accounts when using Internet banking.
How accruals are made on the balance of funds
Debit cards with interest typically charge 0.01 percent per annum. That is, if you have one hundred thousand rubles on your account in one year, your account will be replenished by 10 rubles. This rate is very low. But for todayday between banks there is fierce competition for each client, so they try to offer rates much more profitable. Even so much so that debit cards with interest are becoming a serious substitute for a simple bank deposit. For example, some banks offer interest rates up to eleven percent per annum.
After you make any debit card transaction, don't forget to check your balance. This will save you from surprises and troubles.
How interest debit cards are issued
In order to get a credit card with interest, you need to contact the bank and submit an application. Each bank issues cards on its own terms and with its own tariffs. The difference is sometimes significant. Annual maintenance of the card can cost up to two thousand rubles. The minimum balance on the account in order to accrue the maximum interest ranges from 5 to 50 thousand rubles.
How to choose
All interest-bearing debit cards should be chosen wisely and taken very seriously. It is important to calculate how much and how you spend money, whether you pay in cash or in cash, how far are ATMs and much more. A properly selected debit card can become not only a very convenient payment instrument for you, but will also allow you to keep your funds safe, as well as bring additional income. Some banks also havevarious bonus programs that allow you to accumulate bonuses from purchases. These bonuses can be used to pay in stores, at gas stations, in the end, to pay for a mobile phone.
Which bank is better
Here everything will depend only on you. But a few tips can still be given. First, carefully look at what the tariffs are, as well as how much the annual service costs. Secondly, pay attention to the presence of commissions, whether there are hidden fees or whether everything is transparent.
You will also have to choose a payment system. If you like to travel, then ask what payment system, in which country it operates, what will be more convenient for you to use, etc.
We wish you a good card choice!
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