If you consider setting up a new bank account but are unsure which one is ideal for you or looking for Debit cards that give you a higher cash withdrawal amount with ATM access, you have landed on the right page. This post will address all of your questions about debit cards, their features, and how to use them. Debit Cards gained popularity in India due to their flexibility, reliability, and ease of use. Therefore, we may quickly obtain our debit cards after creating a bank account.
However, it is very difficult for teens to get a debit card from traditional banks.
What is a Debit card?
A debit card, often known as an ATM card or payment card, allows us to withdraw funds or make a digital payment when we require it. When we use a debit card, we may access our money immediately from our bank account, and the money is debited from our existing account balance. Other than cash withdrawals, individuals can use Debit Cards for various activities such as online purchases, paying for products or services at a merchant’s location, or initiating payments online for bills or purchases. It allows us to withdraw money immediately from our bank accounts without physically visiting the banks, and it spares us time because we no longer have to wait in lines.
Sadly, no major bank has ever launched an exclusive debit card for teens.
Features of Debit card
Debit Cards allow us to gain financial independence while avoiding the risk of being indebted. It would be more advantageous for your everyday spending if you were familiar with the many functions of your debit cards.
- Debit cards provide Financial flexibility: The finest benefit of debit cards is financial freedom while promoting improved financial management. If you travel regularly, you can choose a debit card that enables users to access your money everywhere in the world and includes features such as limitless checks and electronic activities to make it easier to manage your account.
- Debit Cards can be used for multiple activities: A debit card allows you to withdraw funds straight from your bank account. You may use your debit card to withdraw cash, make online payments, pay bills at merchant locations, exclusive deals and buys, and so on. Many banks allow you to use your debit card without restrictions when travelling abroad.
- Debit Cards have many advantages: Debit cards, like credit cards, give you lots the benefit of incentives and special offers. For example, different retailers provide cash back on debit card transactions.
- Debit cards are secure: Customers can choose from many degrees of security when using a debit card. Visible features such as the unique debit card number, PIN, OTP, and three-digit card protection key guarantee that only you have access to your account. Some banks provide a zero liability policy, which means that no costs will be levied for unlawful transactions.
- Debit cards keep you within limit: Unlike credit cards, it also helps you prevent splurging. The amount is instantly debited from your bank account, encouraging you to stay within your spending limitations.
Fyp: The Ultimate Debit card for Teens
Fyp is a Teen Neo Bank, Debit Card and Payments app. Using Fyp card, teens can avail all the benefits of having a debit card and securely do shopping both online and offline.
But that’s not all, using Fyp they can get up to 10% Cashback on all their expense and save up Rs 300 per month!
It gets even better! For a small fee, Teens can order their very own physical Fyp debit card for teens and get 3% Cashback on all offline spends!
Being the first debit card for teens to have a holographic design, the Fyp card stands as one of India’s coolest VISA and debit cards.
Being a numberless card, it is very safe for teens to carry and it can also be blocked from the app very easily.
These features have made the Fyp Card India’s coolest Debit Card for teens.