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International Debit Card Facts

The growing popularity of debit cards as a means to parry the possibility of inaccessibility to one’s own cash because of a frozen bank account has took the world by storm. More and more people are aiming to get their won international debit cards. With the different international debit card providers who suddenly popped out people are in confusion on from which to get their debit card. Below are some facts to help in making decisions about DC acquisitions.

1. What is an international debit card?

An international debit card is a card duly recognized on almost all countries of the world which makes shopping for goods and services much easier by providing the holder an online electronic payment facility from his offshore bank account, for the purchases at foreign merchant establishments. It also allows cash withdrawals and enquiries via Automated Teller Machines or ATMs.

2. What are the benefits of an international debit card?

The international debit card allows you to access your money securely deposited in an offshore bank account anywhere there is an ATM. With almost 30 million merchant points of sale all over the world who recognize debit cards as valid payment mechanisms in place of cash and checks you have all you need to do your shopping.

3. How does an international debit card work?

The international debit card functions like a regular ATM card allowing you to withdraw cash from ATMs, while on merchant establishments it works in the same way as a regular credit card, except that the transaction amount is deducted from your own offshore bank account.

4. How to use an international debit card at merchant establishments?

A. Look for a VISA / VISA Electron or MasterCard sign at the point-of-sale merchant establishment.

B. The merchant must have an electronic point-of-sale card-swiping terminal.

C. Present your international debit card after making your purchase.

D.  Present your debit card after making your purchase.

E. After successful authorization, the merchant will place on your offshore bank account a hold for the transacted amount. Subsequently and immediately the amount will be deducted from your account balance.

F. Check and sign the charge slip. Your signature must match with that on the reverse of the card.

G. Make sure your card is returned to you.

The international debit card holder should be physically present during any purchase made through the debit card as signature verification is vital for debit card transactions.

5. How do I activate my international debit card?

For security reasons, international debit cards are sent inactive to the soon to be holders. Don’t forget to make sure that you receive the PIN before trying your debit card. To activate your card, you would need to either use the card at an ATM by inputting its PIN or make a Phone Banking PIN verified call to your debit card provider to confirm your receipt of the card. They will then activate your card. Be sure to change your PIN after card activation.

Knowledge is power so be sure to know all the basics to be able to exploit the full potential of your debit card and reap its maximum benefits. Try the 2-GetCash international debit card you can get for a one time payment only, with no hidden, extra, annual, cash conversion and cash transaction charges.

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Article Source:http://www.articlesbase.com/personal-finance-articles/international-debit-card-facts-907197.html

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May 9th, 2009 | Category: Personal Finance | Comments Off
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