Everything You Need to Know Before You Apply for a Debit Card

When you open a savings or current account, banks give you an electronic card called a debit card. With this card, you get easy, immediate access to your savings and checking accounts.  You can use debit cards to purchase at merchant retail stores, online shopping portals, and for ATM withdrawals. If you have a debit card that can be used internationally, you can carry out similar transactions just about anywhere.  Your account information is stored on a debit card with a CHIP that is issued by banks.

What Is A Debit Card?

You can make purchases without using cash when you use a debit card. A bank gives customers a debit card and a banking kit that includes a passbook, chequebook, and other banking documents when they open a current or savings account.

A debit card can be used to make purchases both online and offline, as well as at ATMs. You can use your Kotak 811 debit card to apply for EMI payments too. In contrast to a credit card, a Kotak 811 debit card apply keeps checks on the user’s ability to spend more than what is available in their bank account.

Why do People Prefer to Use Debit Cards?

Many people find it more convenient to carry a little plastic card than a wad of cash or a chequebook. It’s a convenient way to make purchases without the need to pay any interest or additional cost. When making purchases at an offline retailer, you can even get cash with your debit card. 

Eligibility Criteria of a Debit Card

Your savings account and eligibility for custom debit cards are inter-connected. You must open an account with a bank to get a debit card. You need to be eligible to open a bank account to do that. These conditions are:

• You must be at least eighteen years old with Indian nationality.
• You will need to make an initial deposit because different banks have different minimum balance requirements for various savings accounts.
• The applicant must present legitimate, officially recognised proof of identity and address.

The following are some characteristics and advantages of debit cards:

Contactless Cards

These are the cards that let you pay at merchant businesses by simply tapping or waving your card close to the machine. To complete the transaction, you do not need to enter your PIN.

Safe Transactions

Debit cards offer a hassle-free method of shopping at retail stores and online, thanks to their exceptional security features. To make the payments, you must enter the security code or OTP that was issued to your registered mobile number.

Obtaining Money

You have immediate access to your account around-the-clock thanks to the more than two lakh ATMs in India. Based on the card’s limit, you can use any nearby ATM to withdraw any amount you need.

The EMI Facility

There are several deals on the purchase of accessories, electronics, appliances, gazettes, etc., while shopping online at reputable e-commerce sites using a debit card. Additionally, you can use your Kotak 811 debit card to apply and switch large transactions to Equated Monthly Instalments. This makes it easier for you to shop for goods that you otherwise might not be able to afford without spending a lot of money at a time.

Rewards

Some banks also provide reward points for purchases made at partner businesses or for fuel. You have the option of redeeming your accrued reward points for a variety of attractive gift items or turning them into cash.

Is It Feasible For You To Specify Your Preferences For The Sort Of Debit Card You Want?

You can select from several of the bank’s linked payment systems while filling out the debit card request form. Debit cards from MasterCard or Visa are required for overseas travel. The RuPay debit card might be appropriate if you only make domestic transactions.

Conclusion

You can withdraw money from ATMs using custom debit cards, depending on your needs. Each card has a different withdrawal cap depending on the type of card your bank provides you. In addition to facilitating purchases, a debit card provides you with security over actual cash. Due to its protection features, your debit card cannot be used fraudulently even if it is stolen. In the event of loss or theft, it can also be blocked.