Benefits, and Types of Debit Cards

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A debit card is a way to pay for goods and services and has become a popular means to undertake monetary transactions without the need for cash. A debit card works like a credit card, only when you use it to pay for things, the money is debited from your bank account instantly. So, your debit card is linked to your bank account directly. 

Today, with the surge of digital payments, you can avail of different types of debit cards to suit your individual payment styles and requirements. A widely used form of plastic money, debit cards prove to be a secure way to make digital payments without the hassle of credit piling up. It is worth digging deeper into the world of debit cards in case you want to get one. 


  • Understanding Debit Cards and Types
  • The Benefits of Debit Cards
  • The Types of Debit Cards Available

Understanding Debit Cards and Different Types of Debit Cards

When you open a bank account, say, with any bank or financial institution, you may be offered the use of a debit card linked to your bank account. Say, if you open a savings bank account with a bank, you will be given the bank’s debit card to use with your account. This debit card gives you digital access to your bank account at any time through an ATM of your specific bank or any other bank’s ATM. Through the ATM, you may use your debit card to withdraw cash or check your balance, among other banking activities like depositing cash in some machines. 

Debit cards are also used to pay for goods and services. However, for a debit card to work for payment purposes, the required funds (to be debited from your bank account) must be in your bank account. A debit card can be swiped, much like a credit card, at any merchant outlet to pay for goods and services. For example, if you want to pay your grocery bill, you have to simply swipe your debit card, key in your ATM PIN, and the transaction is done. There are different types of debit cards available nowadays, depending on your spending patterns and preferences. Additionally, most modern debit cards come with Wi-Fi-enabled usage so there is no need to key in your PIN. Furthermore, different debit cards are linked to specific types of use in that they may offer cashback facilities and discounts related to where you spend with them. 

The Benefits of Debit Cards

Globally, there exist four debit card and credit card issuers. These are Discover Card, Visa, Master Card, and American Express. In India, Ru Pay is also a debit card issuer, a country-specific issuer linked to Indian debit cards only. While different types of debit cards offer various benefits, debit cards, in general, give you several advantages, mentioned below: 

  • Cash Access

You get instant and immediate access to the cash in your bank account via debit card use. Debit cards are universally accepted forms of payment within India and abroad. 

  • Security

Debit cards offer you a secure way to pay for goods and services, eliminating the need to carry cash around which may get misplaced or stolen. Digital transactions with debit cards are transparent and safe from fraud. You also get SMS and email alerts when you have used your debit card, providing you with information and tracking your debit card use, as well as safety in use. 

  • Incentives

Banks offer a variety of incentives and advantages with different types of debit cards. These incentives include cash-back offers and deals on specific merchant outlets and portals, discounts on particular goods, free movie tickets, bonus points, and more. 

  • Frugal Spending

The use of debit cards (unlike credit cards) does not give you credit facilities. Consequently, you tend to be frugal in your spending habits as you can use a debit card only if you have sufficient funds in your bank account. This lets you spend your money, but less impulsively and irrationally. 

Types of Debit Cards in India

Debit cards in India are issued by banks and financial institutions. As mentioned before, banks are authorised to issue debit cards from any one of the primary cards issuers like Visa, Master Card, or Ru Pay. In terms of types of debit cards, you also get debit cards that give you contactless payment facilities and come with Wi-Fi-enabled services. These cards let you tap your card on the merchant’s machine and make payments without any swiping or keying in PIN mechanisms. Additionally, when speaking about the types of debit cards, you may have a range to choose from, like shopping cards and fuel cards, which give you benefits when they are used for related purchases. 

Best Debit Cards in India

You can get some of the best debit cards in India through some of the most well-known banking institutions in the country. Here are some of the best ones available today.

Versatile Payments

Different types of debit cards allow you to spend without any hassle and assure you of secure payment methods. There are many types you can opt for, and these may match your spending patterns and unique spending preferences. With some debit cards, you may also earn rewards and gain other advantages. The main benefit you get is that your money is debited directly from your bank account and you avoid the stress of outstanding payments and potential debt.




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