|Debit card Meaning
Debit Card Meaning
Debit Card Meaning:
A Debit card is a type of plastic card, which can be used to withdrawing money from ATM, make online payments, transact in e-commerce website and can be used in shopping malls for pay bills.
A debit card is a middle man with the Bank customer and Bank. using of Debit card, the customer has no work to withdraw money by visiting the bank. the customer can easily use their account balance with a moment.
Now the question is that, is Debit card make by the bank?no absolutely incorrect. the Debit card makes by a third party.which is the real middle man with the customer and bank.there are many different types of Debit card provider in India.some of the most popular debit card provider in India is Visa, Maestro, Rupay Debit card and Master Debit cards.
These Debit card provider has made the Debit card and gives to the bank, to provide the Debit card to the bank customers. after getting the card a bank customer can easily transact his account balance.
Debit card made:
A Debit card makes in plastic.on it backside, a black magnet strip is there.in this strip all data like Debit card number, CVV, expiry date and customer name also add. In front side, Debit card number, expiry date, the customer name also print. now the day’s chip-based Debit card is provided by the bank.which is most secure.
Debit Card Number:
Debit card number is a type of serial number which reflects in the front of the card. every Debit card is made with a serial number which helps the bank to link every account in different Debit cards.
when a Debit card makes, some data stored in the card. to find the card identity, the Debit card provider gives it a special serial number.in Debit Card, some data stored like customer name, Debit card expiry date, CVV etc.its very confidentially.
at that time when a customer takes a Debit card, the Bank enter the Debit card serial number in their customer database and connect the Debit card with the customer bank account. after then when a customer using the debit card anywhere, the Debit card shows all the customer details.likes the customer account balance and if the account balance sufficient to withdraw or transact in any way .it is paid.
Types of Debit cards:
There are many types of Debit cards provide in India. The Debit card provider makes different types of Debit cards to different types of customer and usage. The most trusted Debit card provider is Visa and others are Rupey Debit card, which is an Indian company, Maestro, Master card Etc.
in it, there is some subcategory as like, Visa Gold Debit Card, Visa Silver, Visa Diamond.like that is Maestro Debit card, Master Debit card, Rupay debit Card also has a subcategory. the Debit card is different from bank to Bank, customer to customer as that depends on their account balance and usage.
also, The debit card has Inbuilt Accidental benefits, which is free and without any premium also, but the insurance amount is different from Card to the card.
so in Briefly the details of cards are :
- Visa Classic
- Visa Gold
- Visa Platinum
- Visa Signature
- Visa Infiniti
with Visa Classic Debit cards you can travelling, shopping or dining in anywhere in the world, Visa Classic cards are accepted most of the locations around the world, so you can use them without any worry for almost anything you want. if you need cash on the go where you are? Visa lets you access cash from almost all ATMs in more than 200 countries and territories worldwide.
With Visa Gold debit card, Enjoy the finer side of life. As a Visa Gold cardholder, you can withdraw money anywhere around the world and shopping anywhere. you may also receive travel assistance, medical and legal referral and assistance, plus toll-free access to Visa’s Global Customer Assistance Services, 24 hours a day, 365 days a year.
with Visa Platinum, debit card Enjoy the finer side of life. As a Visa Platinum cardholder, you can withdraw money anywhere around the world and shopping anywhere. you may also receive travel assistance, medical and legal referral and assistance, plus toll-free access to Visa’s Global Customer Assistance Services, 24 hours a day, 365 days a year.
The Visa Signature provides you with exceptional spending power, a high level of rewards, priority customer service, and exclusive privileges. Visa signature cards are accepted most of the locations around the world, so you can use them without any worry for almost anything you want. if you need cash on the go where you are? Visa lets you access cash from almost all ATMs in more than 200 countries and territories worldwide.
With the visa Infinite debit card Enjoy excellent spending power with a high credit limit, the convenience of Visa Infinite Concierge, personalised privileges, rewards and service.
For Master Debit:
- Debit Master card Standard
- Platinum Master Debit card
- World Master Debit card
1.Debit master card Standard-
The master Debit card is a basic Debit card provide to its customer. Using a Debit Master card to manage your finances is more convenient. you can use a master debit card in any ATM machines to withdraw money, make payment in merchant outlets and pay online also. for other benefits please contact the bank.
2.Platinum Master Debit card-
Perfect for the leisure traveller, the Platinum Debit Master card delivers a mix of travel benefits, privileges and experiences. Whether it’s airport lounge access or securing the best restaurant in town, get the most out of your travels with this card.
3.World Master Debit card-
World Debit Master card is designed to let you experience a higher level of convenience, security and control with a suite of premier benefits. First-rate customer service and access to exceptional travel experiences make it easy to see why this debit card is perfect for people who live life to the fullest.
For Rupay Debit Cards:
- Rupay Platinum
- Rupay classic
- Rupay PMJDY
- Rupay Pun Grain Card
- Rupay Mudra Card
- Rupay Kishan Card
Celebrate the joys of life every day with your RuPay Platinum Card. Gift Voucher from Croma worth Rs.500 or avail 15% Gift Voucher from Apollo Pharmacy.*.Make your travel experience hassle free with access to 30+ domestic lounges two times per calendar quarter per card. Earn 5% cash back on your utility bill payments capped at Rs.50 per month per card. Keep yourself and your family safe with Personal Accident Insurance and Permanent Total Disability cover up to Rs.2 Lakhs. Celebrate around the year with exclusive merchant offers (POS and Ecom) available on your RuPay Platinum Debit Card.
With RuPay Classic get the benefit of comprehensive insurance cover. Keep yourself and your family safe with Personal Accident Insurance and Permanent Total Disability cover up to Rs.1 Lakh. Celebrate around the year with exclusive domestic merchant offers (POS and Ecom) available on your RuPay Classic Debit Card.
Government of India’s initiative towards affordable basic banking services.
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking / Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
RuPay PMJDY Debit Card is issued with accounts opened under Pradhan Mantri Jan Dhan Yojana. The RuPay PMJDY Debit Cards can be used at all ATMs, POS terminals and e-commerce websites. It comes with added Personal Accident and
Permanent total disability Insurance cover of Rs.1 Lakh.
4.Rupay Pun Grain Card-
Punjab Government’s initiative towards payment to Arthia.
PunGrain is a grain procurement project of Punjab Government launched in October 2012.
The Arthias are provided with a RuPay Pungrain Card under this account.
RuPay PunGrain Debit cards can be used at ATMs for cash withdrawal and for automated grain procurement facility at PunGrain mandis.
5.Rupay Mudra Card–
Government of India’s initiative towards the beneficiaries of MUDRA Loans under Pradhan Mantri Mudra Yojana Scheme.
Pradhan Mantri Mudra Yojana Scheme’s main motive is to attain development in an inclusive and sustainable manner by supporting and promoting partner institutions and creating an ecosystem of growth for microenterprise sector.
RuPay Mudra Debit Card is issued with an account opened under Pradhan Mantri Mudra Yojana.
An innovative product which provides working capital facility as cash credit arrangement. The cardholder can make use of MUDRA Card in multiple withdrawal and credit, so as to manage the working capital limit in a most efficient manner and keep the interest burden minimum.
6.Rupay Kishan Card–
Ministry of Agriculture’s initiative towards the credit requirements of the agriculture sector.
Kisan Credit Card Scheme aims at providing need-based and timely credit support to the farmers for their cultivation needs as well as non-farm activities in a cost-effective manner.
Farmers under this scheme are issued a RuPay Kisan Card on their account.
The cards can currently be used at both ATMs and POS machines.
Maestro type of Card-
The maestro have one type of card.The Maestro card can be used anywhere but the cash withdrawal from ATM’s is a limit base.for deatails please contact with bank.
Using of Debit card is very easiest for daily life but use it secuerly.now the days there have heavy froud with Debit card holder,so keep it in mind.
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