7 Advantages of a Debit Card

Debit Card

According to a news item in the paper, more and more Malaysian are using debit cards and debit card spending has increased by 50% year-on-year. A debit card offers many benefits:

1.      Better Control of personal finance: A debit card allows you to spend only on what you have. You can use your debit card to spend according to your budget.  However, a credit card, without using it wisely, can lead to bankruptcy.

2.      Safer: You don’t have to carry a lot of cash when you go shopping, you avoid getting robbed.

3.      Simple life: With a debit card shopping is hassle-free. There is no need for a buyer and a seller to count cash and avoid errors.

4.      Shop online: When you have a debit card, you can shop online. It is just like a credit card. 

5.      Avoid running out of cash: There is no need to look for a bank or an ATM when you are short of cash, just use your debit card.

6.      Supporting documents for your spending: It is easy to monitor your spending because there is a slip for each and every transaction.

7.      Worldwide acceptance: Like a credit card, it is accepted internationally and you can withdraw local currency from ATM when you are overseas. 

You need to monitor your spending and avoid getting into an embarrassing situation when a transaction cannot go through because there are insufficient funds in your bank account.

Source: 7 Advantages of a Debit Card.