Expanded Information:
Debit Card (Debit Card) refers to the bank card issued by the issuing bank to the cardholder, there is no line of credit, the cardholder deposits money first, and then use the card.
Debit cards are divided into transfer cards, specialized cards and stored value cards according to their functions. Debit cards cannot be overdrawn. The transfer card has the function of transferring money, depositing and withdrawing cash and spending money. Specialized cards are debit cards that are used in specific areas and for specific purposes (other than department stores, restaurants and entertainment), and have the functions of transferring and withdrawing cash. Stored-value cards are prepaid wallet-type debit cards to which the bank transfers funds to be stored in the card at the request of the cardholder, and from which funds are deducted directly at the time of the transaction.
Ease of use and popularity: Because of their ease of use and wide popularity, debit cards are also one of the most commonly used payment tools in e-trade. Over 20 million points of sale worldwide accept signature-based debit cards from a number of international name brands. Ease of use is one of the reasons for the growing popularity of debit cards. Debit cards not only save you the hassle of carrying cash, they are also easy to use, with fast payments and a monthly statement (or statement) that clearly shows all transactions.
Safety: Debit cards offer the same security as credit cards. If you lose your debit card or suspect that it has been stolen, you should immediately report the loss to your bank to minimize losses by preventing others from stealing it. Remember: just because a card issuer offers you protection for your purchases doesn't mean you can ignore your debit card; debit cards, like money in a bank account, should be kept in a safe place.
1 Cash deposits and withdrawals. Most debit cards are equipped with savings functions in local and foreign currencies, fixed-term and current. Debit cards can be used to deposit and withdraw cash at issuing bank branches, self-service banks, and ATMs (cash dispensers) across the country and around the world.
2 Transfer remittance. Cardholders can transfer or remit money to other accounts through bank branches, online banking, self-service banking and other channels.
3 Card spending. Cardholders can use their debit cards to make purchases at merchants.
4 Receive and pay. The debit card can be used to pay wages, and also to pay various fees (such as communications, water, electricity, gas, etc.).
5 Asset management. Wealth management products, open-ended funds, insurance, personal foreign exchange trading, precious metal trading, etc. can be contracted, traded and settled through the debit card.
6 Other services. Many bank debit card services have been extended beyond financial services, such as providing cardholders with VIP airport access, medical and health services, and so on.