Debit Cards: A Quick Insight

Over the years, many plastic cards have been introduced to cater to the unique and diverse needs of consumers. At the moment, there’s credit cards, debit cards, prepaid cards, and reloadable debit cards, to name a few.

However, of the many plastic cards available, there is one that’s deemed as the best alternative to the credit card—the reloadable debit card. So you’re probably wondering,  “What makes the reloadable debit card the perfect alternative to the credit card?”

For starters, while it comes equipped with many exciting features, reloadable debit cards don’t have any of the exorbitant charges and fees most credit cards are known for.

debit card


In 1978, The First National Bank of Seattle introduced and issued the first ever debit card. However, back then, debit cards were offered exclusively to business executives with a huge savings account balance. Initially, the debit card worked like a check signature or a guarantee card.

Understandably, since transactions will be covered by the issuing bank, only business executives with a long history with the bank and an impeccable standing are provided with the cards.

In 1984, the first nationwide debiting system was introduced officially. ATM networks were also already set in place back then. The debiting system back then was also built on the same infrastructure that’s already used by credit cards. By 1998, check usage the world over has been outnumbered significantly by debit card usage.


While sharing several surface qualities with credit cards, debit and credit cards have distinct differences in terms of function. Bear in mind that debit card users won’t be borrowing money from the bank unlike credit card users.

The thing is debit card users will draw money from the available balance on their checking accounts. That means when no money is available on the checking account, no transactions can be carried out.

Also, unlike checks, money won’t float and the user won’t need for the bank to be able to do a complete transfer. In other words, when it comes to debit cards, fund transfers are done in real time.


debit card

Undeniably, one of the most enticing and exciting benefits of debit card usage is being spared from all the headaches, hassles, stress, and inconvenience of carrying check books and issuing checks.

No wonder debit cards have become an instant favorite among those who frequently travel since it allows them to perform quick transactions even when they are abroad. Also, debit card users won’t need to carry traveller’s checks or foreign currency to do purchase transactions when outside the country.

Taking into consideration all the peerless benefits debit cards offer, it’s easy to see why it’s been embraced fully and has earned quite a following. What’s even more amazing is debit cards have now become easy to obtain compared to when it was first introduced.

The fact that it has become easy to obtain makes it possible for a lot of people to enjoy all the amazing benefits and features it offers.

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