It's also known as a check card. When you make a payment using a debit card, funds are directly deducted from your bank account and transferred to the account of the store where you made the payment. It's like cash, only handier. Also, this will keep you within your budget as you cannot spend more than what your bank account has - a nice tool to discipline impulse spending habits. Take note that you shouldn't be charged for any additional fees or interest rates.
I shop from time to time and I hate it when I don't have cash in hand. It just means that I have to use my credit card. I have nothing against credit cards but my Allied Bank credit card tends to screw me up from time to time by sending me late billing then, charge me for interest and penalties.
What's the difference between a debit card and cash then?
Well, Manila isn't the safest place in the entire world so carrying a LOT of cash is dangerous at times. Also, when you lose your cash, you lose it all. When you lose your visa debit card, your money is still safe. Simply call your bank to have your card blocked immediately in case you lose your debit card.
Rather than lining up at the ATM to withdraw or queuing for 45 minutes in the bank to get your salary, using your Visa debit card won't consume much time. It's not going to take any of your precious time at all. It's as easy as using it immediately -- just like cash. Take note that it's not true that when you use card to purchase, you get charged extra. Another benefit is, when using your Visa debit card, you can check your transactions and purchases online!
No more hearing those irritating "do you have a smaller bill, sir?" line! I honestly abhor hearing that. It's their business and it's their responsibility to have loose change on hand. Well, like credit card, this Visa debit thing won't give you that problem anymore.
Load going low? Top it up with your visa debit card! No need to look for a store in the middle of the night to transfer you load credits. Just go to the many available ATMs and you can transfer load to your phone anytime, wherever you are!
You won't have to worry about not being able to pay for your date anymore! Imagine the awkwardness of treating your family and friends and when the bill arrives, you discover that you don't have enough cash! No more awkward moments because be it big or small, you can pay for it with your Visa Debit card. Just don't forget to not withdraw all your money on payday!
With visa debit, you can easily manage your funds. Let's put it this way. You won't over shop and have the worry of not being able to pay later because swiping your credit card is very convenient. With a debit card, as it is directly linked to your checking or savings account, you can only spend as much as what you have in that account. Also, you can easily monitor your spending because you can see a summary of your spending online.
More benefits of using visa debit card:
- Just like a credit card., you can use it to purchase ANYWHERE you see the visa logo (As long as they are accepting Visa, which is virtually anywhere -- hotels, groceries, malls, gas stations etc)
- It is also accepted worldwide! Even though your visa debit card is connected to the savings or checking account you have here in the Philippines, you can use it in the millions of establishments around the world!
- Visa debit cards also allow access to foreign currency from ATMs around the world that carry the visa logo.
- No more debts and monthly payments
Disadvantages of a visa debit card:
- You can't use it in a sari sari store (well, with such small amounts, you won't need a credit card either)
- Jeep fare (uhm, easier to pay using coins, right?)
- Parking boy tips (hello?)
I really can't think of disadvantages right now because other than those mentioned above that is good enough for loose coins and small bills, visa debit card is the way to go.
I'm not new in using credit cards and cash but discovering how convenient it is to pay using the visa debit card, I will get myself one and try out the real convenience it provides to check out the benefits myself!
Interested? Go to your nearest bank and inquire about Visa Debit Card right now!
Which do you prefer? Cash or Visa Debit Card?
Cheftonio
PS. Liked the post? Subscribe to my blog by typing in your email below. You'll get my posts in your inbox via email.
-->
3 comments:
How about trying to compare a Visa Debit card against a Cash card. Just load whatever amount you want to it.
Very convenient! You can use your card online, over the phone and at the millions of places that accept Visa debit cards—including supermarkets, pharmacies, clothing stores, drug stores, gas stations, and more!!!
I prefer Visa Debit Card! It is more convenient than shopping with cash.
Post a Comment