As it happens, Australia is still scrambling onto the debit card bandwagon, but overseas they're expected to become the number one method of payment.
If you one to indulge in a spot of credit card abuse from time to time, debit cards are a great alternative, allowing you to spend only the cash you have with the convenience of a Visa or Mastercard. It's a simple way to monitor your spending habits and never slip out of credit control.
Debit accounts typically enjoy all the facilities of a credit card, including:
Plus some debit card accounts offer:
Yes! Some debit cards offer rewards, same as a credit card. You'll need to select the 'credit' payment option on EFTPOS to access this.
Prepaid debit cards can also save you on fees.
Well, it's pretty much the credit giants, at this stage, and you're looking at:
Visa and Mastercard offer faintly different small print, but the big differences between debit cards arrive at the provider level (ie, banks).
Most financial institutions have a debit card facility attached to their transaction accounts, and it's typically easiest to set up a debit card account with your current provider. Search Australia's largest customer review database - ours! - to read debit cards reviews.