Debit cards have eliminated the need for carrying huge wads of cash. Today, they are accepted as a digital payment mode almost everywhere. Whether you're picking up groceries or paying after a meal in a fancy restaurant, you can whip out your debit card and pay instantly.

What's more, debit cards are easy to get. When you open a savings account online, you can opt for a debit card linked to your account. Or, you can apply for a debit card online any time you like and choose from several variants. No need to visit the bank or fill out cumbersome paperwork!

If you don't have a debit card yet, you are missing out. Here are five reasons why they are a must-have payment tool.

#1 They Are More Convenient Than Credit Cards

When you pay through your mastercard or visa debit card, the money is deducted instantly from your bank account. This process is much quicker than waiting for a credit transaction to go through. Nor do you have to worry about paying your bills later.

At the same time, many banks offer you perks, rewards, discounts, and cashback offers on your debit cards. So, you can enjoy all the benefits of credit cards without worrying about going into debt.

#2 They Come in Handy During an Emergency

Most visa and master debit cards double up as ATM cards. So, in case of an emergency, you can use them to withdraw cash from any nearby ATM.

If you are setting up a savings account to use as an emergency fund, make sure you link it to your active debit card.

#3 They Are Secure

When you activate your debit card, you have to set a four-digit PIN. This PIN is mandatory when making purchases with your debit card, providing you with an added layer of safety against theft.

You can also set up two-factor authentication with your debit card for online transactions. After entering your PIN, you will receive a one-time password (OTP) on your registered mobile number. So, even if your PIN is compromised, the transaction will not go through without the OTP.

Additionally, your bank will notify you after every transaction. If your card is stolen and you receive a transaction notification, you can block your card instantly.

#4 They Are Easy to Obtain

While applying for a credit card requires you to have a good credit score, a debit card doesn't have any such requirement. The only thing you need is a bank account. You can open one online in minutes with the minimum deposit amount. Then, you can get a debit card online linked to your account.

#5 They Help You Stay Within Your Budget

To make any debit transaction, you must have sufficient funds in your bank account. You cannot spend more money than you have. This means you cannot go into debt, as you can with overspending through credit cards. Thus, they help you keep stay within your budget.

You may lose track of your cash purchases. But, you can always check your debit card transaction history through your mobile banking app or internet banking portal. This feature helps you track your spending, analyse your spending patterns, and plan your budget.

To Sum Up

Debit cards are quick, convenient, secure, and come in handy when you need instant cash. Moreover, your debit card transactions are always available to you as a digital record. So, you can track your spending easily.

Don't miss out on these debit card benefits. Visit your bank's website and learn about their debit card offerings today.

Author's Bio: 

Hey! all, I personally write all posts which vary in Finance as forex card,stock market topics as an interesting means of noting, chronicling and expressing my ideas, projects, inspirations and daydreams. It has constantly evolved ever since and become more Finance to travel oriented.