Debit Card

Debit card is a substitute for cheques. It is the faster mode of withdrawing cash and for making payments. The bank ensures security by giving confidential Personal Identification Number (PIN) to the customer. The customers enter the PIN in the machine at he time withdrawing the cash.

Debit card can also be used to make payments at shop or restaurants where a Point Sale Terminal (POS) is available. When a merchant swipes the card on the POS and enters the amount of the transaction, the transaction travels , as an electronic message to the bank.  This bank in turn forwards it to the customer’s bank through VISA or MASTER card. Such cards guarantee the payments of all the transactions performed through cards issued by banks affiliated to them.

Instantly the customer’s debited merchant account is credited. The merchant pay a fee to the bank in order to get instant cash. The bank in turn pays a part of the fee to VISA or MASTER CARD, which in turn shares it with the customer’s bank, which has issued the card.

By using debit card, you can

                Verify the balance,

                Order for a cheque book,

                Statement of account.

Debit card with a VISA or MASTER CARD logo can be used at any ATM, any where in the world.