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How to choose a debit card: 5 Secrets that will help you

debit card

The main difference between a debit card and a credit card is that with its help you can manage the money that is already in your account. You can transfer money, pay for goods and services, withdraw cash from ATMs – but only within the amount of the account.

You will receive the card after you open an account in the bank, and not vice versa. Therefore, you need to carefully choose both a bank and a card, because, in fact, you will entrust your money to the bank. And it is very important to carefully read all the terms of the contract and not sign it without looking. Since you conclude a bank account agreement with the bank, your money on the debit card will be insured – according to the law on deposit insurance.

How to choose a bank?


  1. Rate the reliability of the bank

    Before choosing a card, check if the bank is included in the deposit insurance system (CER). This can be done by calling the Deposit Insurance Agency hotline. And try to evaluate the financial condition of the bank and the so-called reliability rating (ranking): find out what assets and capital it has, whether there is a profit.

  2. Enjoy the convenience of the bank

    The convenience of the bank is a subjective criterion, the main thing is that its services meet your needs. What to look for?

    • Internet banking and mobile banking. Most likely, these services will be useful to you. It is better to collect information in advance on how they work, how conveniently they are implemented in the bank of your choice.
    • The number and location of ATMs and bank branches. Look at the map, ATMs and branches of which banks are near your home or office, check the schedule of the branches. It is logical that the more ATMs and branches, the more convenient the bank’s client.
    • Prospects for cooperation. Often, regular and reliable bank customers receive benefits. Perhaps in the future you will use other products and services of the bank: take a loan, make a deposit. Therefore, it is better to study in advance whether the bank has offers that will suit you in the future.
  3. Read bank reviews

    Do not be afraid to ask bank experts questions about cards and their servicing. Ask friends and acquaintances in which bank they opened an account and received a card, whether they are satisfied with the conditions – so you get real experience. Look at the reviews about the bank on the Internet, pay attention to how quickly and correctly this or that bank solves the problems of users. This is also important: some banks are famous for their caring and high-quality customer support, while others are known for skillfully ignoring customer complaints.

How to choose a debit card?

  1. Decide what the card is for.

    Do you need a card urgently or are you ready to wait for its release? Are you going to pay it on the Internet? Do you want to use it abroad? Answering these questions, you will understand what type of card (instant or classic, registered or unnamed) is suitable for you, which payment system (international or local) will be convenient for you, whether you need the opportunity to open a foreign currency account.

  2. Compare loyalty programs of different banks

    • CashbackCashback works like this: you spend money with your card on purchases and services, and a small percentage of these purchases will be returned to you. Check for what services and purchases money will be returned to you – in many loyalty programs there are restrictions and additional bonuses for places and types of purchases.
    • BonusesTravelers can accumulate miles for a new flight; shoppers can get discounts on purchases at selected stores. In addition to the loyalty program from the bank, you can additionally participate in the loyalty program from the payment system to which your card belongs.
  3. Compare card service charges

    • Annual maintenance feeTypically, the more features and capabilities a card has, the higher the service charge. When choosing a card, you should not focus only on promotional offers – they focus on the advantages of the card and are silent about the restrictions. Compare offers of banks, ask questions, choose the best rate for yourself.If you choose a card with annual payment, while among the services there is a cashback and interest on the account balance, perhaps the card will be free for you if the interest or cashback compensates for the service charge. Specify such moments in the bank, ask for the right offer for you.
    • Transfer feeMost often, transfers are free within one bank, but you will have to pay when transferring to another bank. Think in advance who you will most often transfer money to (or from whom to receive). Most likely, it will be more profitable for you to open an account with the same bank that with most of your “financial contacts”, most banks do not charge a fee for transfers between their customers. Pay attention to this nuance: some banks charge a transfer fee between accounts opened at different branches. That is, if you and your grandmother have an account in the same bank, but she has an account with her in the Perm branch, and you have one in Moscow, then you may have to pay a commission by sending her money. At the same time, there are banks that allow you to transfer without interest to other banks. Specify in advance the conditions of transfers both within the bank and to other banks.
    • ATM cash withdrawal feeIf you withdraw cash from the ATM of your bank (that is, the bank in which you opened an account and which issued you a card), then, as a rule, you do not pay a commission for this. If you withdraw cash from ATMs of another bank, you will have to pay. The size of the commission is determined by the bank. However, it happens that several banks enter into a partnership agreement under which their customers can withdraw money for free. Then you can withdraw cash from the ATM of your bank’s partner and not pay extra money for this. In advance, study the conditions for withdrawing cash: are there any partner banks in your bank, how much is the commission for withdrawing from other banks. But if possible, withdraw cash from ATMs of your bank.

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