CarderPlanet
Professional
- Messages
- 2,549
- Reaction score
- 722
- Points
- 113
A debit card is a plastic bank card issued to manage a client's account, on which only their own funds can be deposited (as opposed to a credit card, where borrowed money is located).
Why is the card called that? To understand this, you need to understand the concept of "debit". It is translated as "must" and is used in accounting. When a person puts money on a card, then according to accounting documents, the bank has a debt to the client. Hence the name - debit.
According to the Central Bank, as of January 1, 2021, credit institutions issued 305 million cards, of which 39 million are credit cards and 266 million are debit cards.
Why do I need a debit card? What is it? What is a debit card with overdraft and cashback? How does it differ from a credit card? How much does the maintenance cost? How is interest calculated? In the article you will find answers to these and other questions. A former bank employee with experience will give advice on choosing a product, and also tell you how to avoid fraud.
Contents
It is much easier with non-cash funds stored on cards. Over time, enterprises switched to servicing banks and began to transfer wages to such cards. By the way, a salary card, as well as a pension, student, card for social benefits - these are all debit cards.
Bank cards have become an excellent alternative to cash. You can pay with cards in stores, pay for utility bills, cellular communications, home Internet, transfer money to another card to a relative or friend, transfer money to another bank to pay for a loan or mortgage. Some debit cards act as a bank deposit in which interest is charged on the balance of funds. You can also get a discount when paying by card, this function is called cashback. Finally, a large amount of funds can be stored on the card, but the card itself takes up little space in your wallet or pocket. If the card is stolen from you or you lose it, then the money will remain safe, you just need to reissue the card itself.
Many cardholders mistakenly say “debit” or misplace the stress on the word “debit”. Do you know how to correctly say: debit or debit? The second option is correct.
Cons of debit cards:
ONEPayment system. In Russia, the cards of the following systems prevail: MasterCard, Visa, MIR (Russia). There are also American Express, JCB (Japan), UnionPay (China), but they are less popular.
The maps of the first two systems are international and the most common. MIR is a national payment system that was created as a response to the US sanctions, when they planned to disconnect Russia from the international payment systems MasterCard and Visa, which, in turn, stopped serving cards of a number of Russian banks. The difference between these cards is one - the MIR card is not accepted for payment abroad and it is not possible to withdraw cash from it abroad.
2Kudos and volume of additional service. There are standard, classic, electronic, gold, platinum cards. Please note - gold and platinum names are only. They are made similar to the rest of the cards, only they have a similar color.
Gold and platinum cards are more privileged. With them, you can get additional bonuses and benefits. For example, the Aeroflot Sberbank card gives bonus miles (special points of the bank and airlines for clients for using the services) and welcome miles (given to the client when the card is opened). When paying by card for air tickets, miles will be credited, which can then be exchanged for new tickets or for an increase in the class of service: check-in for flights out of turn, free use of VIP lounges at airports, etc.
What is an MCC code, why is it needed and how to find it before buying.
However, the monthly service for them is also higher: on the Aeroflot gold card from Sberbank - 3500 rubles, on the classic one for 1 year - 900, from the second year the amount of 600 rubles is paid. For comparison, the unnamed classic Momentum card is free.
3. Card protection - with chips, magnetic strips, combined.
4. Personalization - unnamed, named. The name and surname of the holder is printed on the personal cards. This inscription is often convex, but sometimes it is applied with paint. It can take up to 45 days to make them.
Most often, banks set a fee for the issuance and maintenance of registered cards, in contrast to unnamed cards. For example, the annual service for a personalized Sberbank card "With Big Bonuses" costs 4900 rubles, for a Molodezhnaya card - 150 rubles, and an unnamed "Instant Card" has a free annual service. But there are exceptions. After all, each organization sets its own tariffs for different products.
There are no special differences in terms of the use of these cards. If you will issue an unnamed card, then make sure that it has a CVV / CVC code on the back. Without it, it will not be possible to pay for goods on the Internet, since entry-level unnamed cards (for example, VISA Electron, MasterCard Electronic) often do not have such a parameter. Also, look at the conditions, sometimes there are additional benefits for named cards that are not on non-named cards.
1. Embossed lettering. This is when text is squeezed out with a special device. On the front side, three-dimensional letters and numbers are obtained. They are usually coated with silver or gold paint. Such an element is resistant to abrasion and makes it difficult to counterfeit.
2. Magnetic stripe - became the first protection for bank cards. It is the source of information storage about the cardholder (image in Figure 3).
The magnetic stripe on the card can be quickly erased or damaged. Such cards become unusable. They must be replaced.
3. Microchip is a modern means of protection. It is more reliable than magnetic stripe. Such a microprocessor stores information about the holder. Does not undergo demagnetization and wear.
It is easy to distinguish a chip card: a metal chip (microprocessor) is soldered to it on the left side. Outwardly, it looks like a mobile phone SIM (shown in Figure 2). Such cards are more reliable than magnetic cards. They are considered safer. They are harder to fake. The terminals read information from them faster.
Combined cards are used in Russia. They have a magnetic stripe and a chip. This is convenient, since not all terminals (outdated equipment) can read information from the chips yet.
4. 3D Secure - ensures the security of card transactions on the Internet. This technology allows banks and online stores to make sure that it is the cardholder who pays with the card. At the time of the transaction, the bank automatically sends a one-time code to the cardholder's phone, which must be entered to make the payment.
Also on the plastic card there are:
It is convenient to receive a salary in this way. There is no need to leave the house, stand in line at the cash register of the enterprise, as it was before. Personal time is saved. And it is also beneficial for enterprises: they do not need to store large amounts of cash, they do not need to provide them with security, maintain additional staff in the form of security guards, cashiers, etc.
The decision on the choice of the bank serving the salary project is made by the head of the organization. Salary cards most often come with limited functionality. The company cannot decide for the employee what services he needs. Only after receiving a salary card, a person can personally choose the necessary options for the card, including paid services, but this is not always and not everywhere available. The client will pay for them with personal funds. However, it may happen that the servicing bank will not have the services a person needs, or their quality will be unsatisfactory. In this case, you can choose another bank and write an application to the accounting department to transfer wages using new details.
The family from Tyumen also thought so, which instead of rubbish threw out a package with several million rubles received from the sale of an apartment to an elderly mother. Fortunately, they managed to find the money, but for this they had to dig through 12 tons of garbage. But the resident of Bryansk was less fortunate. He burned one and a half million rubles, which he was saving up to buy a new apartment. The money was in the old sofa, which he burned while cleaning.
A debit card is a safer place to store money. Even if something happens to the bank, the Deposit Insurance Agency will reimburse you up to $ 1.4 million.
It is also important that many debit cards come with the function of calculating interest on the balance (such cards are also called profitable) and are an alternative to a bank deposit (deposit). Personally, I have not used classic deposits for a long time, but instead use profit cards and here's why:
Most banking institutions support the idea of limiting cash withdrawals. This reduces the risk of fraud, reduces the risk of money laundering, and stimulates the transition to cashless payments. They set daily and some monthly limits. If a large amount is needed, the ATM will not issue it. But at the box office - you can take it off. But they will take a commission for this, even if withdrawal within the limit is free, so I recommend using ATMs.
When you plan to open a debit card, always consider how much cash you need on a monthly basis when examining rates, because each card has its own limitations.
Consider the conditions for receiving cash on debit products of bank:
As you can see from the table, if you get a Momentum debit card, then the maximum amount you can withdraw per month is 100,000 rubles. Personally, I have such a card, since it is free in service, and I do not withdraw so much cash. But even if I needed such an amount or even more, then it can be circumvented by transferring money to another card. I have several debits from different banks, so this is not a problem for me.
Life hack: Interbank transfer from Sberbank provides for a commission. To avoid it, use the "pulling" function from the card. Read more about this in the article: How to transfer money from card to card without commission - 5 ways for all occasions.
Banks also set such limits:
Pay at a regular store
If you pay with a card in a store, then you need to swipe the card through the magnetic stripe reader or insert it into the terminal. If necessary, enter a pin code. Confirm payment. Sometimes a check is required to be signed. But such terminals are already a rarity. Now almost all cards and terminals support contactless payment (equipped with PayPass). This means that the card just needs to be attached to the terminal. The presence of the PayPass function on your card is confirmed by the following icon.
Life hack: You can pay for purchases in stores without a card if you link it to a phone that supports the NFC function. For example, I have not carried a card with me for a long time. Almost all cards are tied to my phone and, depending on the place, I use different cards for payment. The NFC function is available on iPhones starting from the 6th series. On Android devices, this function is not available on all models, check the following icon in the menu.
Now even some watch models support this standard. That is, you can pay for purchases even with them.
Payment in the online store
In order to make a purchase on the Internet, you have to go through the following steps:
Step # 1: Add the product to the cart and go to the checkout page.
Step # 2: Enter information from your card to make a payment:
Step # 3: Next, a window will open in which you need to specify the code from the SMS message to confirm the payment:
The code should not be shown to third parties. You need to enter it to the person to whom it came to the phone. The code is valid for about 5 minutes. If for some reason you do not have time to enter it or enter it with an error, and delete the SMS, you can request the code again.
After the code is entered correctly, you will be redirected to the successful payment page, where there will be further instructions for the online store. Usually they indicate the order number, delivery details, etc.
With a debit card, the transfer is easy:
Financial institutions set limits on the amount transferred. For example, Tinkoff allows up to 5 transfers per day for a total amount of up to 100 thousand rubles. Each bank sets its own tariffs. Transactions between your cards and accounts are most often carried out without commission.
Professional users of banking services always monitor the banking market and try to find options with free issue and service, with a large percentage of the balance, withdrawal and replenishment of funds without commission, large cashback, and so on. There is no perfect map. Therefore, think over all the possible ways of using and choose a convenient card for each of them. Moreover, it can be either a debit or a credit card.
In this note, as examples, the names of some banks and cards are present. But this does not mean that we recommend or recommend them. Terms and conditions for cards change regularly. It is not a fact that a card with favorable conditions today will be as interesting tomorrow. Therefore, the article provides general recommendations that must be taken into account for your needs.
Life hack: For about a year I used a debit card from Rosgosstrakhbank called Excellent. At the time of registration, it was the only card on the market that gave 5% cashback for purchases in grocery stores and supermarkets. This was her only plus. In terms of other parameters, it was inferior to other banks. She did not have the highest percentage on the balance, the limited functionality of the online bank, which only allowed viewing the history of transactions. There was also a limitation on the accrual of cashback. The card could receive no more than 1,000 rubles. cashback per month, that is, you could spend no more than 20,000 rubles. monthly. All spending over cashback was not encouraged. And since our family spends more on food, we issued a second card for my wife. Thus, we increased the limit to 40,000 rubles, which made it possible to receive 2,000 rubles. cashback monthly. But after a while the bank changed the conditions on this card and we had to close them. However, another, more profitable card from OTP Bank has already appeared on the market. She gave 7% cashback for groceries, as well as for pharmacies, medical centers, housing and communal services. But it wasn't a debit card, it was a credit card. Nevertheless, we issued it and used it for several months, until the conditions for it were changed.
Let's take a closer look at the main factors that are important for a debit card.
There are cards that do not have annual service, but there is a monthly one. In fact, they are the same thing. Just from a psychological point of view, the figure is 99 rubles. per month seems to be less significant than 1188 rubles. per year (99 rubles * 12 months). Pay attention to the conditions under which this fee is charged.
Example: the Tinkoff bank website has a Black debit card, the service cost of which is 99 rubles. per month. But if you keep on the card from 30,000 rubles, then the service will be free. So that this money does not lie dead and 6% is charged on it, you need to spend at least 3000 rubles. for the billing period. For example, you put 35,000 rubles on the card, spent 3,000 rubles. for the restaurant, received cashback from this, and for the remaining 32,000 rubles. will be charged 6% per annum.
On some cards, paid SMS notifications can be replaced with push notifications on your mobile phone. This is an analogue of SMS messages, only for the bank it is absolutely free. To do this, you need a modern smartphone on which you need to install the bank application and activate this function in the settings.
How it looks in practice: you have issued a card and deposited 30,000 rubles on it. To get interest, you need to buy something in the amount of 5,000 rubles. This can be either a one-time purchase or several purchases for a total of 5,000 rubles.
Since usually such debit cards are also given cashback in certain categories, it is best to spend money in these categories to get an additional discount.
When choosing, take into account the size of the bet, and also pay attention to how the accrual takes place:
The last option is the most convenient and fair for the client. The accrual is carried out on the daily balance of money.
Cashback interest rates range from 1% to 10%. There are even higher ones, but most often these are some one-time promotions with the bank's partners, or offers from some little-known stores that are not always interesting.
When choosing a product, pay attention to the requirements for calculating cashback. You may be offered a high percentage of return, but for this you need to make a card turnover of at least 50,000 rubles per month. And your monthly income is only 30,000 rubles. So this option is definitely not suitable. It is better to offer a smaller return, but the conditions will be feasible for you.
Cashback is not accrued for cash withdrawal operations, transfers, and each bank has an exception category in its tariffs for which cashback is not accrued.
Read more about cashback:
I am constantly issuing different cards and was able to compare the personal accounts of dozens of banks. Some of the seemingly large banks, such as Rosselkhozbank, Rosbank, Sovcombank, have extremely poorly functional personal accounts that only allow you to track the history of transactions and perform some minor functions, such as exchanging bonuses.
Areas of application of such cards:
For children under 14 years old, you can issue an additional card linked to the account of one of the parents. On each card, you can set limits on operations. Let's say a child's card has a restriction on purchases of 5,000 rubles, then he will not be able to buy anything for an amount that exceeds this restriction. You can also put a restriction on cashing out.
Why is the card called that? To understand this, you need to understand the concept of "debit". It is translated as "must" and is used in accounting. When a person puts money on a card, then according to accounting documents, the bank has a debt to the client. Hence the name - debit.
According to the Central Bank, as of January 1, 2021, credit institutions issued 305 million cards, of which 39 million are credit cards and 266 million are debit cards.
Why do I need a debit card? What is it? What is a debit card with overdraft and cashback? How does it differ from a credit card? How much does the maintenance cost? How is interest calculated? In the article you will find answers to these and other questions. A former bank employee with experience will give advice on choosing a product, and also tell you how to avoid fraud.
Contents
- 1 What is a debit card in simple words
- 1.1 Difference from credit card
- 1.2 Product Features
- 1.3 Advantages and Disadvantages
- 2 Classification of debit cards
- 3 Protection level
- 4 Using a debit card
- 4.1 Receiving wages
- 4.2 Storage of funds
- 4.3 Withdrawals and deposits of cash
- 4.4 Payment for purchases
- 4.5 Transfer from card
- 5 Choosing a debit card
- 5.1 Service cost
- 5.2 SMS notifications
- 5.3 Interest on balance
- 5.4 Availability of cashback
- 5.5 Online banking
- 5.6 Multicurrency card
- 5.7 Cards for children and adolescents
- 6 Answers to frequently asked questions
- 6.1 What if my debit card is lost or stolen?
- 6.2 How to distinguish a credit card from a debit card externally?
- 6.3 How do I find out my debit card account number?
- 7 Remember
What is a debit card in simple words
Debit cards became widespread in the Russian Federation in the 2000s due to the displacement of cash from circulation. Bills and coins are much more of a hassle. They need to be produced, they are torn, they are forged, for their collection it is necessary to involve armed guards in special vehicles. At enterprises and banks, you need to maintain secure storage facilities, hire cashiers, etc.;It is much easier with non-cash funds stored on cards. Over time, enterprises switched to servicing banks and began to transfer wages to such cards. By the way, a salary card, as well as a pension, student, card for social benefits - these are all debit cards.
Bank cards have become an excellent alternative to cash. You can pay with cards in stores, pay for utility bills, cellular communications, home Internet, transfer money to another card to a relative or friend, transfer money to another bank to pay for a loan or mortgage. Some debit cards act as a bank deposit in which interest is charged on the balance of funds. You can also get a discount when paying by card, this function is called cashback. Finally, a large amount of funds can be stored on the card, but the card itself takes up little space in your wallet or pocket. If the card is stolen from you or you lose it, then the money will remain safe, you just need to reissue the card itself.
Many cardholders mistakenly say “debit” or misplace the stress on the word “debit”. Do you know how to correctly say: debit or debit? The second option is correct.
Difference from credit card
Many of my acquaintances say: "I paid for the purchase with a credit card." Although they have in their hands a card on which their salary goes. They confuse a credit card and a debit card. After all, they do not differ in appearance. How to tell if it's a debit card or a credit card? Let's consider their main differences and similarities.| Parameter | Debit card | Credit card |
| Payment system | Mastercard, Visa, MIR | |
| Currency | You can open a debit card in rubles and foreign currency | Currency credit cards are the exception rather than the rule. They are issued in single banks |
| Security technologies | The presence of a chip, CVV-code, 3D Secure, contactless payment technologies - these options are available on both types of cards, but the terms of provision depend on the card and the bank | |
| Main functions | Receiving wages, pensions, and other charges. Keeping your own funds, transfers, payment for goods and services, cashing out. | Payment for goods and services |
| Cash withdrawal | Yes, no commission | Yes, but on single maps. Basically, a commission is charged for cashing out |
| Transfer to another card | Yes. Each bank has its own conditions for the transfer. Somewhere they take a commission for it, somewhere not. The transfer methods also differ (interbank transfer, Card2Card) | No, or there is a high commission for it. |
| Interest on the balance | Yes, but not everywhere | Not |
| Cashback | This service is available on both types of cards, but the terms of provision depend on the card and the bank | |
| Internet bank | Yes, it has a wide functionality | Yes, it has limited functionality |
| Card issuance fee | Previously, it was charged everywhere, now, in a competitive struggle, banks either reduced or refused altogether from this fee (see tariffs) | |
| Monthly / Annual Maintenance Fee | Depends on the card and bank (see tariffs) | |
| Validity | The validity period of the account linked to the card is not limited | |
| Card balance upon issue | Equal to zero until the client or employer replenishes the account | When issued, a credit limit is set. |
| Whose money is the client spending | Personal funds are used | The client spends the borrowed money of the bank |
| Refunds | The money spent on the account does not need to be returned | Loan funds are subject to return |
| Depositing funds to the account | Replenishment is possible at a convenient time. It is optional | Mandatory monthly payment required |
| Client age | There are products available to teens from the age of 14 | Age at least 18 years old |
Product features
A debit card has the following features:- Each person can have any number of debit cards. For example: a card for receiving a salary, social benefits for a child, storing savings, buying products with a profitable cashback, for traveling, for free transfers to other people, etc. This won't work with credit cards. Information about each card and credit limit is stored in the Bureau of Credit Histories and each bank, when issuing a new credit card, takes into account the number of loans and credit cards already available, as well as the applicant's income level.
- When a debit card is issued, it has an initial balance of zero. For example, you have applied for and received a debit card at a bank. There is no credit or own funds on it. You cannot pay for a purchase in a store with a card until you put money on it. Only the enrolled own money of the holder can be used. The exception is debit cards, where a consumer loan is transferred in cash and cards with overdraft, which allow you to spend more money than your own account balance.
- They can be opened in different currencies: rubles, euros and dollars. Banks also offer multicurrency cards. We will tell you more about such a product in the section "Choosing a debit card".
- Salaries can be transferred to the debit card. There are two options here. In the first, the employee chooses the bank and the card himself, and subsequently provides the employer with the details for transferring funds. In the second case, the employer independently concludes an agreement with the bank for issuing cards for their employees. The conditions are determined by the agreement between the bank and the employer. The second option may not always be beneficial to you. We will tell you more about salary cards, their advantages and disadvantages in the section "Using a debit card".
What is Paypal and how to use it in Russia - step by step instructions for beginners - Debit cards can be opened for minors. On such maps, you can set spending limits, track where and what the child spends money on.
Advantages and disadvantages
Among the advantages of a debit card are the following:- Quick registration without income certificates, checking the place of work and the state of the client's credit history. If the card is ordered unnamed (instant), then it can be obtained in one visit to the bank with a passport. The client can use such a card immediately upon receipt.
- On some cards, interest is calculated on the account balance. I have not used classic deposits for a long time, because debit cards with an interest on the balance are much more profitable, I will tell you more about this later.
- The funds on the debit card account are protected by the Deposit Insurance Agency in the amount of up to 1,400,000 rubles. If the bank closes, the money will be returned to you up to this limit.
- You can get a discount in the form of cashback. For example, recently I had a card that gave 12% cashback for purchases from bank partners. Among the partners was the Perekrestok network where we bought food and household goods with a 12% discount. Then the conditions changed, I closed this card and opened another, where the cashback on products was 5%, which is also quite good. On cashbacks, my family and I additionally receive about 50 tr. we save a year. This is like the 13th salary for us. Read more about it here: How to make money on credit and debit bank cards.
- Many banks allow making free interbank transfers from the card.
- You can set up auto payment in order not to forget to make mandatory payments, for example, for mobile communications, home Internet, utilities or car fines.
- It is convenient to pay various payments without leaving your home: rent, taxes, fines. This saves a lot of time on the road and in queues.
- Many offers with free release and annual maintenance.
- It is convenient to control the receipt and consumption. The cardholder can spend exactly as much money as there is on the balance, and it will go into a hard minus like with a credit card.
- Analytics allows you to find out what you are spending your money on. It is convenient to manage a family or personal budget.
- With a debit card, you can replenish electronic wallets, both your own and someone else's, without leaving your home. Convenient for freelancers and remote workers.
- You can exchange currency without leaving your home at a favorable rate. This is relevant in times of financial crises and new sanctions. In this way, you can make money on the movements of exchange rates.
- You can receive income for any activity. For example, you sold something on Avito, and a person threw money on your card.
- Safety. It is better to lose a card with money on it than a wallet with cash. In the first case, it is enough to block the card by phone and reissue a new one, the balance on the card will be the same. In the second case, it will be problematic to return the money.
- Replacing a thick wallet. If you put in a wallet, for example, one hundred thousand rubles in thousandth bills, then carrying such a wallet will be inconvenient, especially for men in their pockets. It's a different matter a small plastic card with a similar amount on the account.
- Some debit cards allow free entry to airport lounges and free travel insurance.
- You can get additional income if you attract new customers to the bank.
Cons of debit cards:
- Some banks' rates imply expensive debit card service.
- If security conditions are not met, funds may become available to fraudsters.
- Often on the bank's advertising pages, not all important conditions for products are indicated (for receiving cashback, interest rate, and others). You need to carefully study the conditions and tariffs, which are written in small print and hidden deep on the bank's website.
- Some cards have good cashback offers, discounts on purchases, a high percentage on the balance, but in order to get them, you need to fulfill the confusing conditions of use, for example, make at least 5 purchases for a total of 10,000 rubles. It's not that it's difficult, but when there are several cards to keep track of all these wisdom for each it becomes impossible.
- There are small outlets that do not have card payment terminals. You will need to withdraw cash first, and then make a purchase.
- Restrictions on receiving cash.
Debit card classification
Debit plastic cards are classified according to the following criteria:ONEPayment system. In Russia, the cards of the following systems prevail: MasterCard, Visa, MIR (Russia). There are also American Express, JCB (Japan), UnionPay (China), but they are less popular.
The maps of the first two systems are international and the most common. MIR is a national payment system that was created as a response to the US sanctions, when they planned to disconnect Russia from the international payment systems MasterCard and Visa, which, in turn, stopped serving cards of a number of Russian banks. The difference between these cards is one - the MIR card is not accepted for payment abroad and it is not possible to withdraw cash from it abroad.
2Kudos and volume of additional service. There are standard, classic, electronic, gold, platinum cards. Please note - gold and platinum names are only. They are made similar to the rest of the cards, only they have a similar color.
Gold and platinum cards are more privileged. With them, you can get additional bonuses and benefits. For example, the Aeroflot Sberbank card gives bonus miles (special points of the bank and airlines for clients for using the services) and welcome miles (given to the client when the card is opened). When paying by card for air tickets, miles will be credited, which can then be exchanged for new tickets or for an increase in the class of service: check-in for flights out of turn, free use of VIP lounges at airports, etc.
What is an MCC code, why is it needed and how to find it before buying.
However, the monthly service for them is also higher: on the Aeroflot gold card from Sberbank - 3500 rubles, on the classic one for 1 year - 900, from the second year the amount of 600 rubles is paid. For comparison, the unnamed classic Momentum card is free.
3. Card protection - with chips, magnetic strips, combined.
4. Personalization - unnamed, named. The name and surname of the holder is printed on the personal cards. This inscription is often convex, but sometimes it is applied with paint. It can take up to 45 days to make them.
Most often, banks set a fee for the issuance and maintenance of registered cards, in contrast to unnamed cards. For example, the annual service for a personalized Sberbank card "With Big Bonuses" costs 4900 rubles, for a Molodezhnaya card - 150 rubles, and an unnamed "Instant Card" has a free annual service. But there are exceptions. After all, each organization sets its own tariffs for different products.
There are no special differences in terms of the use of these cards. If you will issue an unnamed card, then make sure that it has a CVV / CVC code on the back. Without it, it will not be possible to pay for goods on the Internet, since entry-level unnamed cards (for example, VISA Electron, MasterCard Electronic) often do not have such a parameter. Also, look at the conditions, sometimes there are additional benefits for named cards that are not on non-named cards.
Protection level
All bank cards are protected against counterfeiting and their use by third parties. During the production of cards, special protective elements are installed on them:1. Embossed lettering. This is when text is squeezed out with a special device. On the front side, three-dimensional letters and numbers are obtained. They are usually coated with silver or gold paint. Such an element is resistant to abrasion and makes it difficult to counterfeit.
2. Magnetic stripe - became the first protection for bank cards. It is the source of information storage about the cardholder (image in Figure 3).
The magnetic stripe on the card can be quickly erased or damaged. Such cards become unusable. They must be replaced.
3. Microchip is a modern means of protection. It is more reliable than magnetic stripe. Such a microprocessor stores information about the holder. Does not undergo demagnetization and wear.
It is easy to distinguish a chip card: a metal chip (microprocessor) is soldered to it on the left side. Outwardly, it looks like a mobile phone SIM (shown in Figure 2). Such cards are more reliable than magnetic cards. They are considered safer. They are harder to fake. The terminals read information from them faster.
Combined cards are used in Russia. They have a magnetic stripe and a chip. This is convenient, since not all terminals (outdated equipment) can read information from the chips yet.
4. 3D Secure - ensures the security of card transactions on the Internet. This technology allows banks and online stores to make sure that it is the cardholder who pays with the card. At the time of the transaction, the bank automatically sends a one-time code to the cardholder's phone, which must be entered to make the payment.
Also on the plastic card there are:
- system logo: Mastercard, Visa, MIR;
- hologram;
- Name of the bank;
- card number, validity period;
- security code CVV or CVC (three digits on the back of the card; entered for transactions on the Internet);
- owner's name (on name cards).
Using a debit card
Receiving wages
Organizations, institutions, companies and enterprises conclude agreements with banks for servicing within the framework of salary projects, which are an agreement between a banking institution and an enterprise on the cashless transfer of employees' salaries to plastic cards. This makes the payroll process easier. After connection, each employee is issued a personalized debit card on which the employer receives the amount of remuneration due to him for the work done.It is convenient to receive a salary in this way. There is no need to leave the house, stand in line at the cash register of the enterprise, as it was before. Personal time is saved. And it is also beneficial for enterprises: they do not need to store large amounts of cash, they do not need to provide them with security, maintain additional staff in the form of security guards, cashiers, etc.
The decision on the choice of the bank serving the salary project is made by the head of the organization. Salary cards most often come with limited functionality. The company cannot decide for the employee what services he needs. Only after receiving a salary card, a person can personally choose the necessary options for the card, including paid services, but this is not always and not everywhere available. The client will pay for them with personal funds. However, it may happen that the servicing bank will not have the services a person needs, or their quality will be unsatisfactory. In this case, you can choose another bank and write an application to the accounting department to transfer wages using new details.
Storage of funds
My parents used to always keep their salaries at home. There were no bank cards then. And many people still do this, receive a salary on the card, withdraw money from it and keep it at home "under the mattress", believing that it is safer this way.The family from Tyumen also thought so, which instead of rubbish threw out a package with several million rubles received from the sale of an apartment to an elderly mother. Fortunately, they managed to find the money, but for this they had to dig through 12 tons of garbage. But the resident of Bryansk was less fortunate. He burned one and a half million rubles, which he was saving up to buy a new apartment. The money was in the old sofa, which he burned while cleaning.
A debit card is a safer place to store money. Even if something happens to the bank, the Deposit Insurance Agency will reimburse you up to $ 1.4 million.
It is also important that many debit cards come with the function of calculating interest on the balance (such cards are also called profitable) and are an alternative to a bank deposit (deposit). Personally, I have not used classic deposits for a long time, but instead use profit cards and here's why:
- At any time, you can withdraw the required amount without losing the accrued interest, while the classic deposit will recalculate at the “On Demand” rate, the size of which, for example, in the same Sberbank is only 0.01% in rubles, or nothing.
- The income card can be regularly replenished, while many deposits have limitations, or this opportunity is completely absent.
- The money stored on a profitable card is always at hand and can be used at your own discretion: pay for purchases, transfer them to other people, cash out, etc., and do this directly from your mobile phone through an online bank. You will not do any of the above on a deposit. You will have to go to the branch, write an application for early closure of the deposit, after which the money will be available for your purposes.
Cash withdrawals and deposits
If you need cash, you can withdraw it at the cash desk of a bank branch or at an ATM. If you go to the cashier, then be sure to have your passport with you - this is inconvenient. At the ATM you only need a card and a PIN.Most banking institutions support the idea of limiting cash withdrawals. This reduces the risk of fraud, reduces the risk of money laundering, and stimulates the transition to cashless payments. They set daily and some monthly limits. If a large amount is needed, the ATM will not issue it. But at the box office - you can take it off. But they will take a commission for this, even if withdrawal within the limit is free, so I recommend using ATMs.
When you plan to open a debit card, always consider how much cash you need on a monthly basis when examining rates, because each card has its own limitations.
Consider the conditions for receiving cash on debit products of bank:
| Product name | Method of obtaining | Daily limit (rub.) | Monthly limit | Commission | Exceeded limit commission |
| "Instant card" Annual maintenance 0 ₽ | At the register | 50.000 | 100.000 | 0 | 0.5% |
| At a Sberbank ATM | 50.000 | 100.000 | 0 | X | |
| At other ATMs | 50.000 | 100.000 | 1%, not less than 150 rubles | X | |
| "Classic card" Annual maintenance 750 ₽ in the first year, then 450 ₽ per year. | At the register | 150.000 | 1.500.000 | 0 | 0.5% |
| At a Sberbank ATM | 150.000 | 1.500.000 | 0 | X | |
| At other ATMs | 150.000 | 1.500.000 | 1%, not less than RUB 100 | X |
As you can see from the table, if you get a Momentum debit card, then the maximum amount you can withdraw per month is 100,000 rubles. Personally, I have such a card, since it is free in service, and I do not withdraw so much cash. But even if I needed such an amount or even more, then it can be circumvented by transferring money to another card. I have several debits from different banks, so this is not a problem for me.
Life hack: Interbank transfer from Sberbank provides for a commission. To avoid it, use the "pulling" function from the card. Read more about this in the article: How to transfer money from card to card without commission - 5 ways for all occasions.
Banks also set such limits:
- For 1 transaction (operation) at an ATM. It is always less than the daily limit. To receive it, you need to perform a cash withdrawal operation several times. For example, you need to withdraw 75,000 rubles from an ATM. The daily limit is set by the bank at 150,000, and the limit for 1 operation is 50,000. You can withdraw the required amount for 2 transactions: the first - 50,000, and the second - 25,000 rubles.
- To withdraw funds from debit cards issued by other institutions. For example, there is no ATM near the bank that issued the card. You want to receive money from someone else's ATM. If a third-party bank is not a partner of yours, then it may have a restriction on withdrawing from other people's cards. For example, if this limit is 10,000 rubles, then the ATM will not give you the requested amount more than the limit. If you request 20,000, you will be denied the operation.
- Technical restrictions on the number of banknotes dispensed by the ATM in one operation. The maximum number of notes that the device can dispense is 40. The maximum amount of 1 transaction will depend on the denomination of the banknotes that are in the ATM. For example, you need to withdraw 55,000 rubles. The daily withdrawal limit is 100,000. The device has the largest banknote of 1000 rubles. For one operation you can withdraw a maximum of 40,000 rubles (40 bills), and for the second - 15,000 rubles.
Payment for purchases
With a debit card, you can easily pay for goods in stores, pay for online purchases, and make payments for services.Pay at a regular store
If you pay with a card in a store, then you need to swipe the card through the magnetic stripe reader or insert it into the terminal. If necessary, enter a pin code. Confirm payment. Sometimes a check is required to be signed. But such terminals are already a rarity. Now almost all cards and terminals support contactless payment (equipped with PayPass). This means that the card just needs to be attached to the terminal. The presence of the PayPass function on your card is confirmed by the following icon.
Life hack: You can pay for purchases in stores without a card if you link it to a phone that supports the NFC function. For example, I have not carried a card with me for a long time. Almost all cards are tied to my phone and, depending on the place, I use different cards for payment. The NFC function is available on iPhones starting from the 6th series. On Android devices, this function is not available on all models, check the following icon in the menu.
Now even some watch models support this standard. That is, you can pay for purchases even with them.
Payment in the online store
In order to make a purchase on the Internet, you have to go through the following steps:
Step # 1: Add the product to the cart and go to the checkout page.
Step # 2: Enter information from your card to make a payment:
Step # 3: Next, a window will open in which you need to specify the code from the SMS message to confirm the payment:
The code should not be shown to third parties. You need to enter it to the person to whom it came to the phone. The code is valid for about 5 minutes. If for some reason you do not have time to enter it or enter it with an error, and delete the SMS, you can request the code again.
After the code is entered correctly, you will be redirected to the successful payment page, where there will be further instructions for the online store. Usually they indicate the order number, delivery details, etc.
Transfer from a card
You can make transfers from a debit card. This service greatly simplifies our life. It is easy to transfer funds from one card to another, to the cards of friends and relatives, to provide all possible assistance to people in need.With a debit card, the transfer is easy:
- via internet banking;
- using a mobile bank: by card number and phone number;
- using the self-service terminal;
- at an ATM;
- with the help of a bank branch operator.
Financial institutions set limits on the amount transferred. For example, Tinkoff allows up to 5 transfers per day for a total amount of up to 100 thousand rubles. Each bank sets its own tariffs. Transactions between your cards and accounts are most often carried out without commission.
Choosing a debit card
Decide for what purposes the card is needed:- Make free transfers.
- Pay for online purchases and pay at retail outlets.
- Withdraw cash.
- Use for savings, cashback and more.
Professional users of banking services always monitor the banking market and try to find options with free issue and service, with a large percentage of the balance, withdrawal and replenishment of funds without commission, large cashback, and so on. There is no perfect map. Therefore, think over all the possible ways of using and choose a convenient card for each of them. Moreover, it can be either a debit or a credit card.
In this note, as examples, the names of some banks and cards are present. But this does not mean that we recommend or recommend them. Terms and conditions for cards change regularly. It is not a fact that a card with favorable conditions today will be as interesting tomorrow. Therefore, the article provides general recommendations that must be taken into account for your needs.
Life hack: For about a year I used a debit card from Rosgosstrakhbank called Excellent. At the time of registration, it was the only card on the market that gave 5% cashback for purchases in grocery stores and supermarkets. This was her only plus. In terms of other parameters, it was inferior to other banks. She did not have the highest percentage on the balance, the limited functionality of the online bank, which only allowed viewing the history of transactions. There was also a limitation on the accrual of cashback. The card could receive no more than 1,000 rubles. cashback per month, that is, you could spend no more than 20,000 rubles. monthly. All spending over cashback was not encouraged. And since our family spends more on food, we issued a second card for my wife. Thus, we increased the limit to 40,000 rubles, which made it possible to receive 2,000 rubles. cashback monthly. But after a while the bank changed the conditions on this card and we had to close them. However, another, more profitable card from OTP Bank has already appeared on the market. She gave 7% cashback for groceries, as well as for pharmacies, medical centers, housing and communal services. But it wasn't a debit card, it was a credit card. Nevertheless, we issued it and used it for several months, until the conditions for it were changed.
Let's take a closer look at the main factors that are important for a debit card.
Service cost
An important point when choosing a card is the cost of its annual service. After all, if it is too high, then the accrued interest will not be a joy.There are cards that do not have annual service, but there is a monthly one. In fact, they are the same thing. Just from a psychological point of view, the figure is 99 rubles. per month seems to be less significant than 1188 rubles. per year (99 rubles * 12 months). Pay attention to the conditions under which this fee is charged.
Example: the Tinkoff bank website has a Black debit card, the service cost of which is 99 rubles. per month. But if you keep on the card from 30,000 rubles, then the service will be free. So that this money does not lie dead and 6% is charged on it, you need to spend at least 3000 rubles. for the billing period. For example, you put 35,000 rubles on the card, spent 3,000 rubles. for the restaurant, received cashback from this, and for the remaining 32,000 rubles. will be charged 6% per annum.
SMS notifications
SMS notifications are definitely helpful. They provide information on replenishing and debiting funds from the card, confirming payments, changing tariffs and the like. In some cases, a fee is charged for SMS service. I usually try to turn off paid sms notifications.On some cards, paid SMS notifications can be replaced with push notifications on your mobile phone. This is an analogue of SMS messages, only for the bank it is absolutely free. To do this, you need a modern smartphone on which you need to install the bank application and activate this function in the settings.
Interest on the balance
Interest on the balance of debit cards is usually accrued under certain conditions. As a rule, these are:- The minimum balance on the card means that a certain amount of funds must always be on the card, for example, at least 5,000 rubles. per month.
- Monthly turnover implies that every month you need to make purchases with a card for a certain amount, for example, at least 5,000 rubles.
How it looks in practice: you have issued a card and deposited 30,000 rubles on it. To get interest, you need to buy something in the amount of 5,000 rubles. This can be either a one-time purchase or several purchases for a total of 5,000 rubles.
Since usually such debit cards are also given cashback in certain categories, it is best to spend money in these categories to get an additional discount.
When choosing, take into account the size of the bet, and also pay attention to how the accrual takes place:
- During the billing period, monthly for the average balance;
- At the end of the month, for the minimum amount of the balance that was on the account during the accrued period;
- Daily for the amount of the card balance.
The last option is the most convenient and fair for the client. The accrual is carried out on the daily balance of money.
Cashback availability
Cashback is a return of part of the money spent. How it works? You pay for goods and services by card, and the bank returns a certain percentage of your expenses.Cashback interest rates range from 1% to 10%. There are even higher ones, but most often these are some one-time promotions with the bank's partners, or offers from some little-known stores that are not always interesting.
When choosing a product, pay attention to the requirements for calculating cashback. You may be offered a high percentage of return, but for this you need to make a card turnover of at least 50,000 rubles per month. And your monthly income is only 30,000 rubles. So this option is definitely not suitable. It is better to offer a smaller return, but the conditions will be feasible for you.
Cashback is not accrued for cash withdrawal operations, transfers, and each bank has an exception category in its tariffs for which cashback is not accrued.
Read more about cashback:
- What is cashback in simple words and how it works + the most profitable schemes of use.
- How to make money on credit and debit bank cards.
Online banking
When choosing a debit product, you should pay attention to Internet banking. You should be able to conveniently and completely manage the finances on the card and receive the necessary information. Convenient is, for example, Internet banking at Alfa Bank, Tinkoff Bank, Sberbank. In addition to standard functions, such as transfers to other people and legal entities, in your personal account you can:- open deposits and immediately replenish them from a debit card account;
- replenish the card from other cards, see the details;
- view the history of transactions, track the mcc-codes of outlets, which allows you to choose the most profitable card from those in your hands for the desired purchase;
- set limits and limits. It is relevant if the card is used by someone other than you, or large amounts of funds are received or stored on the card;
- connect overdraft;
- pay for cable TV, internet, communications, utilities, government services, etc .;
- replenish electronic wallets;
- exchange currency;
- receive offers with increased cashback, etc.
I am constantly issuing different cards and was able to compare the personal accounts of dozens of banks. Some of the seemingly large banks, such as Rosselkhozbank, Rosbank, Sovcombank, have extremely poorly functional personal accounts that only allow you to track the history of transactions and perform some minor functions, such as exchanging bonuses.
Multicurrency card
This is a debit card to which several accounts opened in different currencies are linked at once.Areas of application of such cards:
- Foreign travel. You can choose an account in the currency of the country that you have planned for travel. This will help save on conversion costs.
- Receiving / sending currency to other countries. For example, transfer to relatives or business partners.
- Payment for goods in foreign online stores.
Cards for kids and teens
Anyone can get a debit card. Some institutions issue full-fledged products with a separately opened account for clients from 14 years old. For registration, you will need a teenager's passport and permission from the parents.For children under 14 years old, you can issue an additional card linked to the account of one of the parents. On each card, you can set limits on operations. Let's say a child's card has a restriction on purchases of 5,000 rubles, then he will not be able to buy anything for an amount that exceeds this restriction. You can also put a restriction on cashing out.
Answers to frequently asked questions
What if my debit card is lost or stolen?
If you lose your card, immediately call the bank's hotline to block it. With a specialist, you can immediately clarify the balance in order to understand whether someone has used the card or not. Before calling, prepare a passport and a code word, these data will be required before a bank employee can voice your card details and make any changes. Blocking and verification can also be done through the online service, mobile bank and at a bank branch. You will be offered to issue a new card to replace the lost one. In most cases, this will be paid.How to distinguish a credit card from a debit card externally?
Outwardly, the cards do not differ in any way, therefore, it is impossible to determine the type of the card by some signs. However, some banks indicate on their cards what type of product the product belongs to. The photo below shows two cards from Alfa Bank. One of them is debit, and the second is credit, as evidenced by the inscription under the bank's logo.How do I find my debit card account number?
You can see it in the details. Bank details can be found at the bank branch, but it is much easier to view it in the application. Here's how to do it at Sberbank:- Open the application and select the Wallet
- In the window that opens, select Requisites and statements
- Click the card account details.
Remember
- A debit card is a bank card on which the client's personal funds are stored (salary, pension, savings, benefits, scholarships).
- With this card, you can pay for non-cash purchases, transfer money to other people, and receive interest on the balance.
- You can have an unlimited number of debit cards and use them for various needs (one for transfers, the second for receiving interest on the balance, the third for cashback, etc.). Several cards are issued in order to reduce service costs and receive the most favorable conditions.
- Always carefully study the rates and reviews on the Internet. Otherwise, you run the risk of running into high service or hidden fees that make using the card unprofitable.
- Check your transaction history (commission and service charges) and rates on a regular basis. Banks often lure customers with favorable conditions, which are then changed unilaterally for less profitable ones.
