An In-Depth Comparison Between Types of Debit Cards

A debit card is a form of plastic money that allows users to withdraw money from the ATM or make payment for a product or service online or offline. But do you know that the debit card you are using for online/offline transactions or for ATMs might be different from the debit card someone else is using?

Depending upon their specific use and transaction value, there are various types of debit cards available for a user. Now, before you decide to buy yourself a debit card, it is important for you to understand the difference between types of debit cards so that you can pick the most appropriate one as per your financial needs.

What are the Different Types of Debit Cards?

Debit cards can be differentiated into 5 types-

Visa Debit cards

Visa Debit Cards are accepted across the globe, making the users financially flexible for transactions within the country or outside. Banks or financial institutions that have collaborated with the International Visa Payment System Network can issue Visa Debit Cards. These cards offer quick, secure and convenient access to a user’s money in person, overseas, online and over the phone.

Here is the range of Visa Debit Cards offered to the users-

  • Visa Classic Debit Card
  • Visa Gold Debit Card
  • Visa Platinum Debit Card
  • Visa Infinite Debit Card
  • Visa Signature Debit Card

RuPay Debit Cards

RuPay is an Indian-multinational payment service launched by the National Payments Corporation of India. RuPay Debit cards are issued under the domestic debit card scheme and can only be used for domestic transactions. These cards can be used at ATMs for cash withdrawals or to make online payments within the domestic boundary only. Other than that, these cards carry less processing cost and time as compared to Visa and MasterCard.

The various types of RuPay debit cards are listed below-

  • RuPay Platinum Debit Card
  • RuPay PMJDY Debit Card
  • RuPay PunGrain Debit Card
  • RuPay Mudra Debit Card
  • RuPay Kisan Card
  • RuPay Classic Debit Card

MasterCard Debit

MasterCard Debit Cards are acceptable across the world. A user can use these cards at ATMs and/or for online transactions. Any transaction made through a Mastercard debit card is deducted from the user’s bank account. Furthermore, these cards enable one to have a detailed record of all transactions made in a particular month.

Below is the list of MasterCard Debit cards available-

  • Standard Debit MasterCard
  • Platinum Debit MasterCard
  • World Debit MasterCard
  • World Delite Elite MasterCard

Contactless Debit Cards

Contactless debit cards are quite an in trend as one does not necessarily need to enter the PIN up to a certain amount (Rs. 5000, particularly). As these cards work on RFID (Radio Frequency Identification) or NFC (Near Field Communication) principle, the payments made with contactless debit cards can be done just by waving or tapping at the POS terminal (equipped with contactless payment technology).

Maestro Debit Cards

Maestro Debit cards are somewhat similar to MasterCard Debit Cards and are accepted globally. Users with a Maestro Debit card can make online transactions easily within or outside the country. Apart from that, he/she is also given the flexibility to withdraw cash from ATMs across the globe.

Since there is a wide variety in the types of debit cards, it is good to do a comprehensive comparison between each one of them before applying for one. This comparison can be made on the basis of benefits, reward programs, security, processing fee and other additional features.

To conclude, you should not get lured only by the rewards or additional offers provided by various types of debit cards. Instead, you should pick only the debit card that suits the best to your requirements and transaction needs.

Can I get a personalized debit card?
Yes, several banks offer the option to personalize debit cards. To get a personalized debit card, you can either choose the image or design directly from your phone’s gallery or from the images provided by the bank.
How to prevent debit card frauds?
To prevent debit card frauds, you must ensure that you-
  • Do not share your debit card PIN with anyone
  • Do not disclose any account-related information such as your account number, PIN and others over the phone or internet unless you yourself have initiated the communication
  • If you are using a Debit card online, take extra precautions with your personal gadgets, update them timely against viruses or spyware
  • Check your bank account statements as soon as they arrive thoroughly. In case you detect any malicious activity, report it to the bank immediately
  • Be extremely cautious with your debit card
  • Register for instant alerts to stay updated about your bank account transactions
  • Dispose of your debit card if it is no longer in use by cutting it into multiple pieces
Can I withdraw money without entering a PIN?
No, you can not withdraw money without entering a PIN. In fact, a debit card PIN is a protective shield that protects debit cards from getting exposed to any malicious activity or theft.
Is it safe to make a debit card transaction using my mobile phone?
Yes, you can use a debit card to make online transactions on your phone. Upon entering your account details such as the CVV number, expiry date of your card and other relevant information, the online portal sends a confirmation message to your registered number before completing the transaction. This way, the transaction remains safe, secure and confidential.
Are Debit Cards different from ATM cards?
A debit card is multifunctional, one can use it to withdraw money from an ATM, and for online/offline transactions. ATM cards, on the other hand, are only used to withdraw money from ATMs.
What type of debit card should I apply for?
The type of debit card you choose entirely depends on your requirements, preferences and the service you want from the bank.

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