|
Questions
- What is a Debit Card?
- What name will be printed on the card?
- Does your debit card expire?
- Who can apply for a debit card?
- How secure is my money with debit card?
- How is debit card better than cash?
- Is debit card better than using check?
- How is debit card better than using a bank card?
- Where can I get a card?
- Where can I use my card?
- Can I use my card to pay bills?
- Can I use my debit card like a credit card to buy things before I add money to the card?
- Do I need a good credit record to get a card?
- How do I add money to my card?
- Can I transfer money from my debit card to my bank account?
- Is my money protected if my card is lost or stolen?
- If I give a debit card as a gift, can the recipient replace the card if it is lost or stolen card or do I have to do that?
- Can I still get at my money if I forget my Personal Identification Number (PIN)?
- Will I still be able to return and get a refund for things I buy with my debit card?
- I want to use a debit card to transfer money to relatives in another Country. Can I have a 2nd account, send the card to my relatives and simply transfer from card to card?
- Is it less expensive to transfer money from card to card than using a traditional wire transfer service?
- Are there any transaction fees?
- Can I get foreign currency cards or put multiple currencies on one card?
- How is the currency exchange rate calculated when the card is used outside of my Country?
- Can I find out how much money is in my debit card account? Or do I have to keep track of that myself?
- I'm looking at this on a friend's computer and I don't have one of my own. Do I need a computer to use a debit card?
- How much does it cost to get a debit card?
- Are there any limits to how much money I can store on my card?
- Are there any limits to how much I can purchase with my card or withdraw from my card account in a single transaction?
- Is there someone who I can talk to if I am having a problem?
- Why should I trust debit card?
- I used a debit card to transfer money to relatives back home. When I want to send more money to them, can I add money to the same card or do I have to get a new card?
__________________________________________________________
Answers :
1.What is a debit card?
debit card offers what are known as "stored value" cards. Quite simply, that means that you store money and access it by using your card at a bank machine (ATM) or by using it like a bank debit card to make purchases.
2.What name will be printed on the card?
There is no individual name printed on it.
3.Does your debit card expire?
There is no expiration date of the card.
4.Who can apply for a debit card?
Anyone can apply regardless of his or her nationality, country of residence, credit history or status.
Back To Top
5.How secure is my money with debit card?
A debit card is more secure than a bank card. Like a bank card, nobody can get at your cash without your Personal Identification Number (PIN). What's more, unlike a bank card, the maximum risk that you face is the amount of money stored on the card. With a normal bank card, someone who steals both your card and PIN may be able to clean out your entire bank account.
When it comes to the question of security, the term "stored value" may be a little misleading. The money is not actually stored on the card. It is stored on our secure computers and can only be accessed if you provide your PIN when you use your card at an ATM, at a store or on our Web site.
Your PIN is not stored anywhere on your card, not even on the magnetic stripe. The information on the stripe merely identifies you so that our systems can compare the PIN that you enter to the one that is stored in our secure computers. That way, a thief who steals your card cannot learn your PIN even with a magnetic card reader.
Because your PIN is so critical to the security of your card, it is important that you protect it. Be sure that nobody is looking over your shoulder when you enter your PIN. Even if you aren't aware of anyone watching you, it is still a good idea to shield the keys of the ATM or store debit terminal with your other hand when you enter your PIN.
6.How is debit card better than cash?
There are lots of ways that debit card beats cash. To name just three:
- debit card is more secure than cash. If cash is lost or stolen it is likely gone forever. If your debit card is lost or stolen, it can be replaced. No one can get at your money unless they also have your PIN. (We recommend that you do not write down your PIN or, if you do write it down, never keep it in the same place as your card.)
- A debit card is a global money and debit card. When you use cash, you usually have to exchange your money for local currency when you travel out of the country, which can be a costly and time-consuming inconvenience. With debit card, you can use your card at any worldwide ATM or merchant debit terminal where you see the Interac, Cirrus or Maestro logo. All cash withdrawals and purchases are automatically in the local currency.
- You can safely send a debit card in the mail. The post office and courier companies tell you not to use their services to send cash. In the past, if you wanted to send money to friends or relatives across the country or overseas the only alternative was expensive wire services. Now, you can easily send a debit card to them in the mail. It is secure because no one can access the cash on the card unless they also have the PIN. (Never send a card and its PIN at the same time).
7. Is debit card better than using check?
- Cash stored on a debit card is available immediately. If you send a check as a gift or to transfer money to relatives "back home", the recipient's bank usually puts the money on hold for at least a few days, and often a few weeks, until the check "clears". The wait can be particularly long when sending money out of the country. With a debit card, you can tell the recipient the PIN over the phone. Then, as soon as the card arrives, the recipient can use it immediately at an ATM or a store debit terminal.
- Cards can be refilled quickly and easily. When you use check to send gifts or transfer money, if you want to send another gift or transfer more cash to the same person, the recipient has to wait for the check to arrive and the bank to clear it. With a debit card you just add more cash to the same card. The recipient then has immediate access to the cash -- the second and subsequent times, they don't even have to wait for the card to arrive.
8. How is debit card better than using a bank card?
- debit cards can be used in more places. While you can use an ordinary bank card in many ATMs around the world, you often can't use them for merchant debit transactions outside of your home country. You can use a debit card anywhere that you see the Interac, Cirrus or Maestro symbol.
- debit card can be used to send gifts or transfer money. Since an ordinary bank card and PIN gives the holder access to your full bank account, they are not a good way to send a gift or transfer money to others. A debit card gives a recipient access to only as much money as you add to the card -- not your whole bank account.
- debit cards are more secure. Because a debit card is not tied to your bank account, in the very worst case, if someone steals both your card and PIN, the most that the thief can get is the money that remains on your card. With a bank card, they may be able to drain your entire account.
Back To Top
9. Where can I get a card?
You can purchase a card online by clicking here.
10. Where can I use my card?
You can use your card anywhere that you see the Cirrus or Maestro logos, which includes most ATMs and merchant debit terminals worldwide.
11. Can I use my card to pay bills?
Usually, but it depends on the issuer of the bill. If you can pay your bill electronically from a bank account or pay it with a debit or credit card then you can usually use your debit card to pay the bill, as long as there is enough money stored on the card.
12. Can I use my debit card like a credit card to buy things before I add money to the card?
No. A debit card is what is known as a "stored value" card. This means that you must first add money to the card and then spend or withdraw that money from it. You cannot use the card to spend or withdraw more than the amount of money that is stored on it.
13. Do I need a good credit record to get a card?
No. Since you cannot spend or withdraw more money than you have added to the card, the card issuer does not assume any risk and, therefore, is not concerned with your credit rating.
There is one exception. Companies that make small loans may use a debit card as a more secure and convenient way to provide you with cash. In this case, a credit check may be required, but it is a credit check for the loan, not the card.
Back To Top
14. How do I add money to my card?
You can transfer money to your card over the Internet or at your bank. Please see the methods below:
- EFT (Electronic Funds Transfer) Available within Canada only
- ACH (Automatic Clearing House) Available within USA only
- International Bank Transfer (Wire, Swift, etc.)
- Moneybookers (via Credit Card, Debit Card)
- debit card to debit card (card-to-card transfer)
Merchants that accept debit cards also have the ability to transfer money into your card, but it is the merchant's choice whether to offer this service.
15. Can I transfer money from my debit card to my bank account?
Yes.
16. Is my money protected if my card is lost or stolen?
Yes. Nobody can get at your money without your PIN. If your card is lost or stolen, it can be replaced once we verify that you are the authorized cardholder.
17. If I give a debit card as a gift, can the recipient replace the card if it is lost or stolen card or do I have to do that?
Yes. The cardholder is a known account holder because the card is in their name. Cardholders can simply contact debit card directly and we'll replace the card as soon as possible.
18. Can I still get at my money if I forget my Personal Identification Number (PIN)?
Not right away. To ensure that your money is safe, you need both your card and your PIN to get at your money. However, if you forget your PIN, contact us.
Back To Top
We will ask some pre-arranged security questions that only you should be able to answer. Once you prove that you are the authorized cardholder, you will be able to assign a new PIN to your card.
19. Will I still be able to return and get a refund for things I buy with my debit card?
Using a debit card to pay for your purchase does not alter the store's refund policy. If the store normally allows refunds on returned merchandise then they will provide a refund on something purchased with your card. If you return merchandise, it is up to the merchant whether to issue a cash refund or to transfer the money back onto your card.
20. I want to use a debit card to transfer money to relatives in another Country. Can I have a 2nd account, send the card to my relatives and simply transfer from card to card?
Yes. Simply order two individual cards. One card for each person. Then simply execute card to card transfers.
21. Is it less expensive to transfer money from card to card than using a traditional wire transfer service?
Quite simply. Yes. Check with the list of transaction fees.
22. Are there any transaction fees?
Yes. Check with the list of transaction fees.
23. Can I get foreign currency cards or put multiple currencies on one card?
Yes. Your debit card account can hold funds in any of the following four currencies:
- Euro (EUR)
- United States of America Dollars (USD)
- United Kingdom Pounds (GBP)
- Canada Dollars (CAD)
Choose the currency that best suits your needs to minimize currency exchange fees.
Whichever currency you choose for your account, your card can be used anywhere in the world to buy goods and withdraw cash from ATMs in the local currency. A competitive exchange rate will be used to convert the funds to your card's currency.
24. How is the currency exchange rate calculated when the card is used outside of my Country?
Foreign banks and merchants usually send us withdrawals and purchase debits in their local currency. If that is different than the currency which you have chosen for your account we will apply a competitive exchange rate to convert it to your card's currency.
25. Can I find out how much money is in my debit card account? Or do I have to keep track of that myself?
You can see your card's balance, along with any transactions applied to your card, on the secure debit card Web site.
Back To Top
26. I'm looking at this on a friend's computer and I don't have one of my own. Do I need a computer to use a debit card?
No. You don't need your own computer to have a debit card. You can use the card just like any other bank debit card. You can use any computer equipped with a current web browser and internet connectivity to monitor your card activity.
27. How much does it cost to get a debit card?
Usually. There is a fee associated with the card, but, depending on the purpose of the card, the issuer may decide to absorb that cost as part of its service. For example, an employer that uses debit card to pay its employees may cover the cost of the cards rather than passing the cost along to its employees.
28. Are there any limits to how much money I can store on my card?
There are no limits to how much money you can keep in your debit card account. But you are limited to how much you can withdraw. These limits are set by each Bank or ATM you use, not by debit card.
29. Are there any limits to how much I can purchase with my card or withdraw from my card account in a single transaction?
There are no limits to how much you may purchase at POS. As long as the funds are in the account you can spend the money at any time.
30. Is there someone who I can talk to if I am having a problem?
Yes. Please visit the section "Contact Us"
31. Why should I trust debit card?
The security of your money is of utmost importance at debit card. We take great care to protect it, such as using the highest publicly available level of security on our Web site.
32. I used a debit card to transfer money to relatives back home. When I want to send more money to them, can I add money to the same card or do I have to get a new card?
Yes. You can simply add more money to the same card. They will then have instant access to the cash.
Back To Top
|
