What is a Debit Card? and what is the difference between ATM and debit card .

What is a Debit Card?

 Debit Card is a payment card that enables you to withdraw money from a bank account. It is commonly called ATM Card in everyday language. With a debit card, you can easily buy and pay online. Also, you also get the facility to withdraw cash from any ATM. It is necessary to have enough money in your bank account to use Debit Card for transactions. The amount available in your account determines your spending limit. Use as much as possible to manage your expenses in a hassle-free manner.

This is linked to the customer’s saving account. Debit Card is not only used digitally to purchase goods or services, but also eliminates the need to carry cash. It comes with a Personal Identification Number (PIN) for additional security. While transactions with Debit Card can be done with or without this PIN, PIN is usually required to withdraw cash from ATM. This convenient device simplifies money transactions and increases security.

What is Virtual Debit Card ?

 Virtual Card, also known as E-Card or Electronic Card, acts as a Restricted Debit Card for E-Commerce transactions.  This card provides a convenient and secure online payment option for merchants without revealing primary card/account information.

 Applicable to all merchants accepting Mastercard / Visa online transactions, the Virtual Card has no difference from regular plastic cards, ensuring transactions while maintaining security.  This innovation has transformed online transactions, increasing both convenience and privacy.

What is another name for debit card?

 We also call Debit Card as ATM Card in everyday life.

 What is the difference between Credit Card and Debit Card?

 Credit Card – When you use a credit card, the bank lends you money to spend and that money has to be repaid on the basis of monthly interest.

 Debit Card – Whereas Debit Card is the opposite, in this you spend the money kept in your bank account.

 What is the difference between ATM and Debit Card?

 ATM Card – With the help of ATM Card, you can simply withdraw money from the ATM machine.  But cannot do online shopping.

 Debit Card – With the help of Debit Card, you can withdraw money from the ATM machine and along with it you can also do online shopping.

Conclusion –

 Friends, we hope that from this article you would have understood what is Debit Card?  What is the difference between credit card and debit card?  If you have any question related to this article, you can ask by commenting below.  Share it with your friends.

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