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Sam

A debit card is an ISO 7810 card which is used like a credit card as an alternative to cash while making the purchases. A debit card requires the funds to be withdrawn directly from the purchaser's current or savings account at a bank. Debit cards are of the Visa or MasterCard brand, but there are other kinds of debit cards which are accepted within a particular country or region.

Debit card transactions are carried out in two ways: Online and Offline debit cards. Online debit cards are automatic teller machine (ATM) cards, as they use the same personal identification number (PIN) authentication system. Moreover, the debits are reflected in the user's account immediately. The PIN authentication is more secure than the alternative signature used in offline debit cards.

The online debit cards are regarded to be more effective than offline debit cards as they offer a secured authentication system. Then there is the live status, which helps to get rid off problems with processing lag on transactions unauthorized by the card owner.

Offline debit cards have the logos of major credit cards (for example, Visa or MasterCard) or major debit cards. These cards are used almost like a credit card. The debit cards have a daily limit. But they may also have a maximum limit equal to the current deposit in the current or checking account from which it draws funds. Transactions conducted with offline debit cards require 2 to 3 days to be reflected on the account balances of users. This type of debit card is same as a secured credit card.

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Debit Card: An alternative to cash during purchase