Debit Card Comparison

Debit cards now come with many different features.

A debit card provides a consumer with the convenience of a credit card without the worry of having to go into debt, come linked to a checking account and are accepted by merchants across the U.S.. Smart consumers will compare debit cards to find the best value for their money.

The Bank

A consumer is issued a debit card from the bank where she has a checking and or savings account. The bank sets the fees associated with debit cards. Logically, the first place to start a debit card comparison is by comparing the banks that issue them. The least amount of fees add up to the greatest amount of savings.

ATM Fees

One of the benefits associated with having a debit card is the ability to withdraw funds from a checking or savings account from an ATM at any time. Some banks will charge fees for using ATMs belonging to them and additional fees for ATMs belonging to other banks. Comparing fees can save money when comparing debit cards.

Reward Programs

A feature becoming more commonplace with debit cards since 2009 has been the introduction of cash-back rewards programs for their use. Well-informed consumers should read the fine print of cash-back reward programs carefully as some could come with hidden fees or annual charges. When comparing debit cards, to get the most for your money, consider a cash-back reward program with the least amount of fees---if any.

References

• New York Times: Credit and Debit Cards - What You Need to Know
• Money Supermarket: Guide to Prepaid Cards
• Credit Cards.com: Are cash back debit cards worth it?