Knowing Your Bank Cards
Knowing Your Bank Cards
Since the beginning of history, human beings have used various instruments as means of payment (grains, minerals and gold), which have allowed them to acquire goods and services throughout time.
Today, with the implementation of technology, the means of payment have been evolving, which has led to the emergence of other elements that increasingly simplify the exchange.
An example of this is the bank cards - issued by multiple banks and other financial intermediaries - which provide users with greater availability, convenience and security in carrying out their economic transactions.
There are currently several types of cards, of which we will present some of the main ones and their characteristics below:
This is a card that allows the user to use the money he/she has deposited and that is available in his/her bank account.
It is used to make purchases of goods and services in various commercial establishments, without the need to carry cash. However, in case of need, it is also possible to withdraw money through ATMs, as well as to check the account balance.
Also, debit cards can be used to make any type of online purchase.
When the cardholder makes a transaction using his or her debit card, the operation is immediately recorded in his or her account, reducing the funds held in the account.
This is a type of card through which a financial entity grants a line of credit to the user. With credit cards, as with debit cards, it is also possible to make purchases at points of sale or online, make payments and withdraw money as cash advances, through ATMs and according to the credit limit set by the banking institution for its client.
These cards are very useful when facing liquidity needs, always bearing in mind that responsible consumption must be maintained according to the payment capacity, since the money spent must be returned.
Also known as a purse card, it is an instrument in which the user loads an amount of money to subsequently make purchases of goods or pay for services in person or online.
This means that it has a consumption limit according to the amount of money that the cardholder has used on it. Once exhausted, the user can recharge again another amount.
The prepaid card does not need to be linked to a bank account, which is one of its main differences with the debit card.
It is useful when traveling, since it avoids having to carry cash. It is also favorable for adults to give, through it, an amount of money to minors and control their expenses.
Regardless of their type and thanks to their multiple advantages, bank cards stand out among the products granted by financial intermediaries, since they facilitate the consumption activities of their customers.