46 Facts About Debit cards

Some debit cards carry a stored value with which a payment is made, but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account.

In many countries, the use of debit cards has become so widespread they have overtaken checks in volume, or have entirely replaced them; in some instances, debit cards have largely replaced cash transactions.

Since the mid-2000s, a number of initiatives have allowed debit cards issued in one country to be used in other countries and allowed their use for internet and phone purchases.

Debit cards usually allow an instant withdrawal of cash, known as a cash advance, acting as an ATM card for this purpose.

Online debit cards require electronic authorization of every transaction and the debits are reflected in the user's account immediately.

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One difficulty with using online debit cards is the necessity of an electronic authorization device at the point of sale and sometimes a separate PINpad to enter the PIN, although this is becoming commonplace for all card transactions in many countries.

Prepaid debit cards are reloadable and can be called reloadable debit cards.

Primary market for prepaid debit cards has historically been unbanked people; that is, people who do not use banks or credit unions for their financial transactions.

Advantages of prepaid debit cards include being safer than carrying cash, worldwide functionality due to Visa and MasterCard merchant acceptance, not having to worry about paying a credit card bill or going into debt, the opportunity for anyone over the age of 18 to apply and be accepted without checks on creditworthiness, and the option to deposit paychecks and government benefits directly onto the card for free.

Prepaid Debit cards vary by the issuer company: key and niche financial players ; purpose of usage ; and regions.

US federal government uses prepaid debit cards to make benefits payments to people who do not have bank accounts.

In July 2013, the Association of Government Accountants released a report on government use of prepaid Debit cards, concluding that such programs offer a number of advantages to governments and those who receive payments on a prepaid card rather than by check.

Plastic Debit cards usually serve as identity documents, thus providing authentication.

In combination with other assets that complement the data stored on the card, like PIN numbers, they serve authorization purposes, most often as bank Debit cards for allowing their holders to do financial transactions.

Debit cards and secured credit cards are popular among college students who have not yet established a credit history.

Shops accepting online-only Debit cards are rare in some countries, while they are common in other countries.

EFTPOS Debit cards can be used to deposit and withdraw cash over the counter at Australia Post outlets participating in Giro Post and withdrawals without purchase from certain major retailers, just as if the transaction was conducted at a bank branch, even if the bank branch is closed.

In Bahrain debit cards are under Benefit, the interbanking network for Bahrain.

In Belgium, debit cards are widely accepted in most businesses, as well as in most hotels and restaurants.

In Brazil debit cards are called cartao de debito and became popular in 2008.

Debit cards replaced cheques, common until the first decade of the 2000s.

In Bulgaria, debit cards are accepted in almost all stores and shops, as well as in most of the hotels and restaurants in the bigger cities.

Previously, debit cards have been in use for ABM usage since the late 1970s, with credit unions in Saskatchewan and Alberta introducing the first card-based, networked ATMs beginning in June 1977.

In France payment Debit cards are commonly called Carte Bleue regardless of their actual brand.

Those Debit cards could be used at ATMs and for card-based electronic funds transfer with PIN entry.

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However, as UnionPay Debit cards are accepted more widely overseas, consumers can use the UnionPay functionality of the bank card to make purchases directly from the bank account.

Today, Irish debit cards are exclusively Chip and PIN and almost entirely Visa Debit.

Irish debit cards are normally multi-functional and combine ATM card facilities.

The Debit cards are sometimes used for authenticating transactions together with a card reader for 2-factor authentication on online banking.

The majority of Irish Visa Debit cards are enabled for contactless payment for small, frequent transactions.

Cards are usually processed online, but some Debit cards can be processed offline depending on the rules applied by the card issuer.

The debit functionality of these cards is usually referred to as J-Debit, and only cash cards from certain banks can be used.

KNET Debit cards are mostly co-branded as Maestro or Visa Electron which makes it possible to use the same card outside Kuwait on any terminal supporting these payment schemes.

The new name for the local debit card in Malaysia is MyDebit cards, which was previously known as either bankcard or e-debit.

Credit card use in the Netherlands is very low, and most credit Debit cards cannot be used with EFTPOS, or charge very high fees to the customer.

In 2011, spending money using debit cards rose to €83,000,000,000 whilst cash spending dropped to €51,000,000,000 and credit card spending grew to €5,000,000,000.

Visa debit cards are issued by Union Bank of the Philippines, Chinatrust, Equicom Savings Bank, Banco De Oro, HSBC, HSBC Savings Bank, Sterling Bank of Asia and EastWest Bank.

MasterCard debit cards are issued by Banco de Oro, Security Bank and Smart Communications tied up with Banco De Oro.

Unlike credit cards issued by some banks, these Visa and MasterCard-branded debit cards do not feature EMV chips, hence they can only be read by the machines through swiping.

In Portugal, debit cards are accepted almost everywhere: ATMs, stores, and so on.

Debit cards are used for cash withdrawal at ATMs as well as store transactions.

Debit cards are accepted in a relatively large number of stores, both large and small, in Spain.

Debit cards are widely accepted from different debit card issuers including the Network International local subsidiary of Emirates Bank.

Debit cards issued are predominantly Visa Debit, with Debit Mastercard becoming increasingly common.

For consumer credit Debit cards issued within the EEA, the interchange fee is capped at 0.

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Debit cards are accepted in a relatively large number of stores, both large and small in Uruguay; but their use has so far remained low as compared to credit cards at ATMs.