Using Debit and Credit Cards for the first time? These FAQs will help

Opening a Bank Account today is easy. If you provide all the required details, your account will be accessible in minutes. This is the result of the technological revolution. Another boon of such advancement is a Credit and Debit Card. The plastic payment option linked to your Bank Account lets you access your funds without visiting the bank directly. It also resolves the issue of carrying cash.

Swiping or entering the card credentials funds all your purchases, payments, and shopping. Knowing its diverse usage, convenience, and advantages helps you enjoy your banking experience optimally. Hence, if you plan to apply for a Debit or Credit Card, check out these FAQs to solve your queries.

What are the costs associated with the card?

Like other banking services, you incur charges for the usage of Banking Cards. The standard costs are associated with overdrawing and using the card in another bank's ATM. You receive a disclosure regarding this along with the enclosed personal identification number. Go through the same for more clarity on the charges.

What to do if the card gets lost?

If you lose your Credit or Debit Card, immediately contact the customer care number. The representative will ask some questions regarding the issue and promptly block the card. This disables its usage if it falls into the wrong hands. Also, in severe cases, you must report the same to the police and submit the information copy to the bank.

How to get Debit or Credit Cards?

Debit Cards typically come as part of the welcome kit, but you need to apply for Credit Card separately. If you fail to receive it through the welcome kit, you have two options: contact customer care or apply for them online. In both cases, the bank reviews your request and issues a new card.

What is a Personal Identification Number?

A PIN is a four-digit number that the bank assigns to each Banking Cards. This enables the authorisation of the account holder. Therefore, you need to enter your PIN to access banking services like balance enquiry, withdrawals, request mini-statement, etc.  As it establishes your identity, you must keep it safe and confidential.

Can you use Debit or Credit Cards safely?

Yes, Credit or Debit Cards come with advanced encryption. Banks protect them with anti-fraud policies. Therefore, if you lose or face safety issues, the bank accepts requests to cancel or block. Also, you get alerts and one-time passwords for every transaction to assure safety.

Can I withdraw or stop payments after it gets processed?

Once you initiate the transfer, the funds get debited from your account immediately. This leaves no scope to withdraw or stop payment. However, if the transaction fails, you should contact the payee or merchant to resolve the issue and get a refund.