The growing popularity of the international debit card has been further boosted by the challenges brought about by the relentless rampage of the global financial crisis. In this now harsh environment, anyone can make mistakes, which could prove fatal to their bank account as financial institutions are stricter than ever in freezing accounts. Having a debit card that is untouched by estate laws provides a secure way to ensure one always has enough accessible money. An international debit card is recognized and usable almost anywhere in the world. It can be used to access cash through any ATM or debit card terminal in nearly any country. As proof of international recognition, an international debit card typically has either a Visa or MasterCard logo imprinted on its face. One should not rush when trying to obtain an international debit card. Time should be taken to learn as much as possible about debit card basics in order to fully exploit its potential and avoid misuse. A frequently overlooked fact by someone applying for an international debit card is that they are expected to adhere to the rules set forth by the issuing bank. An international debit card is linked to a private bank account known as the primary bank account. The amount of cash in the primary account determines the limit of how much the holder can use their international debit card, as all cash withdrawals, deductions after purchases, annual fees, charges, etc., are deducted from the primary account whenever the card is used. Generally, the primary account cannot have a negative balance.
There are two crucial things an international debit card holder should be aware of. First, after an international debit card has been issued, the holder must activate it at an ATM before starting to use it. Second, the PIN issued along with the international debit card should be kept secret and known only by the holder. No retailer, merchant, or bank staff should know the holder's international debit card PIN.
International Debit Card General Features:
ATM Usage:
1. The cardholder can withdraw money only a limited number of times each day as assigned by the bank.
2. Balance Inquiry - retrieving information about the primary account balance.
3. Generating statements - generating statements containing details of transactions made using the international debit card.
4. PIN changing - the holder should change the international debit card PIN after the initial activation of the card.
Bank Tie-ups:
The international debit card issuing bank has the freedom to partner with other financial institutions or agencies to provide better services to its cardholders. However, in the case of any disputes such as services not being up to standard, usefulness, and/or efficiency problems, the cardholder is required to resolve matters directly with the retailer or merchant they had issues with.
Foreign Exchange:
An international debit card holder is subject to certain limitations regarding the use of their card involving foreign exchange. The most important limitation is on how much of the primary account currency can be converted into foreign currency per day. The international debit card is also considered valid provided the cardholder has cleared all dues related to the card. The charges deducted for using the international debit card in a foreign country will be debited from the primary account in the home currency.
Get the 2-GetCash international debit card now and enjoy its numerous benefits without worrying about annual fees, cash conversion fees, and cash transaction charges.