If you have come to know about the advantages and disadvantages of debit card, then you are very welcome. Friends, nowadays most of the people will get to see debit card, because at present, immediately after opening the account in any bank, the debit card is given by the banks to the account holder. Debit card is a type of card which is linked to the bank account, and this card simplifies many tasks. Let us know in this article what are the benefits of debit card and apart from this we will also know about the disadvantages of debit card .
Benefits of Debit card
Cash can be withdrawn from ATM machine using debit card.
Bill payment for any type of purchase on online shopping website can be done through debit card.
The bank provides the benefit of accident insurance cover up to Rs. 5 lakh to the debit card user.
Bill payment can be made through debit card in swap machines at hotels, restaurants, petrol pumps etc.
Your bank account can be accessed after opening netbanking, mobile banking account using debit card.
Bill payment can be done through debit card in any third party app like ticket book, mobile recharge, debit recharge etc.
Disadvantages of Debit Card
An annual fee is charged by the bank from the debit card user, which is a normal fee.
For withdrawals exceeding the limit, the bank charges a normal fee on each withdrawal, which is deducted from the bank account.
Debit card is linked to the bank account, hence loss of this card can lead to its misuse.
Debit cards are also used online, so there is a risk of online fraud.
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