What Is a Debit Card?
Unlike a credit card, a debit card does not extend credit — it deducts funds directly from your linked bank account at the time of the transaction. This makes it a straightforward way to spend only what you already have.
Common Fees to Be Aware Of
- Annual or maintenance fees charged by some banks
- ATM withdrawal charges beyond a free monthly limit
- Foreign transaction fees for international use
- Replacement fees for a lost or damaged card
Using Your Debit Card Safely
- Enable transaction alerts to monitor spending in real time
- Avoid sharing your PIN or OTP with anyone
- Use ATMs in well-lit, secure locations and shield your PIN entry
- Set reasonable daily withdrawal and transaction limits where possible
Comparing a debit card to a credit card? Each suits different spending habits — review both before choosing.