How to save money by using debit cards

Debit cards are fast becoming the most popular way to pay. In 2016, there were more debit card payments than credit card payment transactions in the US. There were over 33.8 billion US dollar payment transactions using credit cards, while the number of debit card payment transactions was nearly double at 69.5 billion dollars.

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For online payments

Debit cards can be used for online payments, as most websites accept both credit cards and debit cards. Unlike credit cards, you can only spend the amount that is in the debit card when making an online payment. You cannot max out your credit and may only spend within your means. Debit cards help control spending and it is an excellent way to keep within a budget.

Avoid paying ATM fees

Using ATMs to withdraw cash and for other transactions might have specific fees attached. Though those fees might be small, like when using a bank ATM to withdraw from an affiliated bank, the amounts add up. There are also a few bank ATMs that have a corresponding fee for every payment transaction. Note that there are bank ATMs that can also be used as a debit card. When these are used to pay, like when it is swiped at a checkout counter, there are typically no fees added to the payment transaction.

Credit card interest

Credit card transactions seem to have no additional fees, however, there are associated expenses. If the loaned amount is not paid on the due date, a certain percentage will be charged as an interest that will be added to the total amount. Interest payments compound and after failing to pay off the total amount for a long period of time, what has to be paid might be crippling.

No annual fees

Credit cards have annual fees. Bank ATMs also do have renewal fees. There are some free virtual debit cards that can be used for a one-time transaction. There are debit cards that may be obtained with a one-time payment and these are loadable, can accept international transfers, and can be used for payment transactions.

A USD debit card

Debit cards can be used to save money as ATM transaction fees don’t have to be paid nor is there interest that will be charged. It also can help save money on the exchange. Many eCommerce and retail sites accept dollar payment. If the person is using their local currency to pay, the exchange rate might below the prevailing market rate. If the debit card used is in US dollars, that won’t happen. It is also a good idea to keep money in US currency as it is stable and does increase in value.

Apply for a USD debit card

If you have been looking for a USD debit card, it is easy to apply for one online. There is this online payment provider that has an easy online application for obtaining a USD debit card. These debit cards can be used for online payments and to accept international payments. These debit cards are not just virtual as a physical card can be sent to you. It is possible to get a debit card from this reliable payment provider.