And do you have to pay interest when buying things with a debit card. Is it just like paying with cash but its with your card and only the cost of the purchase is taken from your account?
2007-02-16 08:28:38 · 15 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
still depends on your credit history.
2007-02-16 08:33:52 · answer #1 · answered by Anonymous · 0⤊ 1⤋
You can ask your Bank for a debit Card.
If you meet the criteria which usually consists of a minimum income mandated to the bank and a good credit history then they will order a card for you.
Transactions using the card will be debited straight from your bank account so you will not be charged interest unless the transaction takes your account overdrawn.
Whilst debit card transaction usually come out of your account within a couple of days it is worth remembering that they can take a lot longer and like cheques are valid for a period ofsix months.
It is your responsibility to keep track of what you are spending so that you do not exceed any pre agreeed overdraft facility with your bank.
Hope this helps.
2007-02-17 07:31:16 · answer #2 · answered by angie 5 · 0⤊ 0⤋
hey when you open a bank account they will want id and proof of your employment income. More then likely you will get a credit check done.
There is 4 types of debit cards depending on which bank you join.
Visa Debit (Visa Delta)
Maestro (Switch)
These two are the most popular ones. They are also used as a cheque gurantee card.
Visa Electron
Solo
These two are just debit cards and you can use them in most shops but not everyone takes them. They are kind of a basic card but you can get cash out with all four cards.
When you use the card the terminal in the shop checks your account for the funds and then it will say yes or no. They money then gets frozen in your account to the shop prouduces a sales voucher.
2007-02-16 08:37:06 · answer #3 · answered by Robert G 2 · 0⤊ 0⤋
Hi, it is just like paying cash, no interest to be paid. I used to work in a bank, and to get a debit card you had to have an eligible account (i.e not just a basic one), and you had to have a good record on your account (i.e not been overdrawn all the time, and putting funds in regularily), and it was also up to the account managers discretion so long as you met the above criteria.
Hope that helps1 Steph x
2007-02-16 11:20:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There is no interest charge like a credit card, and it does depend on your age and credit history, if any. Be aware though that not all transactions in shops are checked, if under a certain amount the transaction may just go through and if you don't have money in your account, you will get a bank charge, and this might be more than the amount you spent in the first place!! Worth asking though, they're really handy.
2007-02-16 08:52:59 · answer #5 · answered by loosy111 1 · 0⤊ 0⤋
Well, as long as you have a CHECKING ACCOUNT, they will give you a debit card if you ask (although Im surprised if you werent given one when you opened the accct...)
No, no interest, only the cost of the purchase taken from the acct.
2007-02-16 08:36:34 · answer #6 · answered by YDoncha_Blowme 6 · 0⤊ 0⤋
If you have a checking account the bank Will give you a card and there is no interest. it is like paying cash and yes only the purchase is charged to you acct.
2007-02-16 13:31:08 · answer #7 · answered by ? 6 · 0⤊ 0⤋
Your bank automatically gives you a debit card because it comes with all sorts of checking accounts. Do you think that your bank is open at 8 a.m. ? No they won't be open, so how are you going to wtihdraw money from the ATM? With the ATm card which is a debit card. If you don't have an ATm card, call your bank.
2007-02-16 11:53:15 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Right. no interest and no credit check for debit cards. They will give u one just for asking, long as u have an account.
2007-02-16 08:34:51 · answer #9 · answered by Neo 2 · 0⤊ 0⤋
You can spend money you don't have because the bank takes so long about updating your balance.
There are huge fees so keep an eye on it yourself.
You should be able to get one unless you have such a bad credit history you cant get an acc with an overdraft, but most banks will have alternatives e.g. halifax has a cardcash acc with no overdraft & lloyds can take the overdraft facility of their standard acc.
2007-02-20 03:28:34 · answer #10 · answered by Anonymous · 0⤊ 0⤋
They will five you a card if you pass the credit check when opening the account ..............my 16 year old son has a visa electron card
No it does not cost anything and only the amount you spend is taken out of the account...........you cant spend what you don't have basically
2007-02-16 08:35:35 · answer #11 · answered by xXx Orange Breezer xXx 5 · 1⤊ 1⤋