Pros and Cons of Debit Card

In the current world almost every bank account you are issued a debit card. This card electronically transfers funds from your bank account to the store you are making a purchase. This eliminate the need to carry cash.


• No need to carry cash. Not need to worry about losing cash or misplacing it. Even your purse or wallet is stolen your money is safe as the culprit would need your PIN number to access your funds.

•  No need to make a trip to the bank every time you need to withdrawal money. You can use your card  any where you go. Also when you need cash you can access your money at an ATM machine any time of day or night. (24 x 7)


• You must keep accurate records of your Debit card usage. You should know what your account balance is at all times. There is a high chance of overdrawing your account which will result in bank fees. Also the embarrassment you will face when your card is denied.

• Some places where you can’t use debit card. E.g Road side shops, Hot-dog , Ice –Cream Man.

• Now a days ATM machines charge a fee for their use and then your bank adds another foreign ATM charge (when machine is not from your bank). Some charge per transaction and other banks charge as an annual fee for Debit card usage.