{"id":988,"date":"2016-05-01T18:00:52","date_gmt":"2016-05-01T12:30:52","guid":{"rendered":"http:\/\/easybankingtips.com\/?p=988"},"modified":"2023-08-11T11:04:03","modified_gmt":"2023-08-11T05:34:03","slug":"debit-cards-india","status":"publish","type":"post","link":"https:\/\/easybankingtips.com\/debit-cards-india\/","title":{"rendered":"Debit Cards in India- Features & Benefits"},"content":{"rendered":"
RBI’s report on bank-wise card statistics reveals that, there are approximately 65 million debit cards issued in India by the end of December 2015, which shows that debit cards have grown to be an\u00a0essential\u00a0component of today’s cashless payment\u00a0mechanism. This article talks about the features and benefits of debit cards in India to help understand how they work.<\/p>\n
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This is basically a card that offers a\u00a0convenient access to our bank account and allows us to carry out financial transactions as per our requirement as well as convenience.\u00a0So with\u00a0a debit card, we’re almost carrying our bank account with us.<\/p>\n
The debit cards in India include Visa debit cards, Visa Electron debit cards, MasterCard debit cards, RuPay debit cards, Maestro debit card. These are\u00a0issued by the banks who have a tie-up with any of these brands.<\/p>\n
The debits cards are usually linked with customers\u2019 bank accounts; It can be savings, current or NRE bank account.<\/p>\n
In some cases more than one account can be linked to single debit card.<\/p>\n
When the card is swiped in a machine or used at online payment gateways, the payment amount is debited from account it’s been linked to automatically. And the customers who have activated the\u00a0SMS alert service, immediately get a notification regarding the payment. They can also get email notification if applicable.<\/p>\n
Abbreviated for Personal Identification Number, a debit card PIN is a 4-digit numerical code which serves as a security feature while making transactions using the debit card.<\/p>\n
As per the RBI guidelines, use of PIN is mandatory while making purchases in point of sales as a security measure.<\/p>\n
The PIN is provided by the bank along with the debit card and it\u2019s the responsibility of the cardholders to protect their PIN in order to prevent the misuse of their debit card. They are requested to follow the debit card best practice to keep away from fraudsters.<\/p>\n
The request for PIN change can be made by the customer if they have lost or forgotten the current PIN. For security reasons, it is advisable to change the PIN periodically.<\/p>\n
Certain banks offer an insta-kit after opening the\u00a0account. It basically contains ATM\/debit cards, cheque book, net banking info etc. If your bank doesn\u2019t provide such package, you can apply for the debit card in a separate application form given by the bank. Fill the form properly with a passport size photograph pasted on it ( if applicable) and submit it to\u00a0the bank. Get adequate information from the bank regarding the delivery of the card, charges, and rules, if any.<\/p>\n
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RBI’s report on bank-wise card statistics reveals that, there<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[28],"tags":[],"yoast_head":"\n