Choosing a Debit Card: What You Need to Know
Posted: Wed Feb 19, 2025 5:45 am
A bank card is a tool that allows you to access the money in your account. It is used to withdraw cash and top up your account at ATMs, pay for purchases at the checkout, and perform many other transactions.
Cards are either credit or debit. The former provide access to borrowed funds, i.e. money belonging to a banking organization; the latter - to your personal savings. In this article, we will tell you what criteria you need to use to choose a debit card in order to get as many benefits and advantages as possible.
Criteria for choosing a debit card
Key parameters of the map:
release format (plastic or digital),
payment system,
appointment,
terms of service,
cashback and bonuses,
technologies (chip for contactless payment, linking iceland mobile database to electronic wallets, data protection).
When deciding which card to choose, consider how you plan to use it. To do this, answer the following questions:
What is the main source of account replenishment - salary, pension, social payments, transfers from other accounts and wallets, cash deposits through an ATM?
Do you need online payments only or full functionality?
Are you planning a trip abroad? If so, to which countries?
Approximately how much money will be stored in the account?
Also analyze your purchasing behavior:
Which stores do you shop at most?
For what amounts?
Do you always have a balance on your accounts or are there days when the balance is zero?
Do you use bonus systems: accumulate points, participate in loyalty programs, buy where they offer the biggest cashback?
The answers will help you choose the right card that suits your goals and financial habits.
Cards are either credit or debit. The former provide access to borrowed funds, i.e. money belonging to a banking organization; the latter - to your personal savings. In this article, we will tell you what criteria you need to use to choose a debit card in order to get as many benefits and advantages as possible.
Criteria for choosing a debit card
Key parameters of the map:
release format (plastic or digital),
payment system,
appointment,
terms of service,
cashback and bonuses,
technologies (chip for contactless payment, linking iceland mobile database to electronic wallets, data protection).
When deciding which card to choose, consider how you plan to use it. To do this, answer the following questions:
What is the main source of account replenishment - salary, pension, social payments, transfers from other accounts and wallets, cash deposits through an ATM?
Do you need online payments only or full functionality?
Are you planning a trip abroad? If so, to which countries?
Approximately how much money will be stored in the account?
Also analyze your purchasing behavior:
Which stores do you shop at most?
For what amounts?
Do you always have a balance on your accounts or are there days when the balance is zero?
Do you use bonus systems: accumulate points, participate in loyalty programs, buy where they offer the biggest cashback?
The answers will help you choose the right card that suits your goals and financial habits.