Thursday 22 March 2018

Bank cards What are the different types and features

In today’s world where rapid urbanization has become the catchphrase of the day, we all need top-notch modern facilities to carry out our day to day activities. Every day new technologies are being introduced to benefit us in every way possible. Same goes for all the financial institutions in the world.

To serve you in a better way, financial institutions have come up with modern technologies to help you carry out the banking facilities in a faster, smarter and better way. Everyone out there is familiar with bank cards. These bank cards help you to withdraw cash 24*7 and anywhere in the world. These smart electronic cards do not only help us to withdraw cash, but they also help us in various payment facilities. These bank cards help to make online payments too, at your own convenience.

These bank cards are powered by many autonomous companies which provide a sense of reliability to its customers.

Types of bank cards:

• DEBIT CARDS
These are electronic cards which are issued by financial institutions against your deposits in the bank. With this electronic card, you can withdraw, pay funds anytime with your money that is deposited in the bank without having to go to the bank. They have a secure PIN code which you should not disclose to anyone in order to prevent theft.

• CREDIT CARDS
This type of bank card doesn’t require a bank account for you to pay for expenses incurred. The amount you use through the card is given on credit, so you need to pay it back at specific intervals. When the amount is withdrawn, paid back in full and on time, there is no interest charged against it.

FEATURES OF BANK CARDS

 Prompt cash
ATM cards or bank cards help you to withdraw cash at any place or any time, hassle-free. All you need is an ATM (Automatic Teller Machine) outlet.

 Easy mode of payment
Not just cash withdrawals, you can pay your bills, book tickets and whatnot with these bank cards. You do not have to go to various offices for payments now. You can pay anytime and anywhere you want.

 Universal acceptance
The bank cards have universal acceptance with respect to ATM outlets. International cards can be used in any country which minimizes the need for you to carry cash in person.

 Convenience
With the help of the various bank cards, you can withdraw cash and pay your bills whenever you want, and anywhere you want. Their customer support is also available at all times, and during an emergency or theft, the financial institutions will secure you no matter what.

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