The functions of debit cards:

Debit cards are divided into debit cards, special cards and stored-value cards according to different functions. Debit cards cannot be overdrawn. Debit cards have the functions of transferring money, depositing and withdrawing cash, and spending money. A special card is a debit card used in a specific area and for special purposes.

Functions:

1. Deposit and withdraw cash. Debt cards mainly have local and foreign currency, fixed and current savings functions. Debt cards can be used nationwide and even globally in issuing cards, bank branches, self-service bank deposits and withdrawals, and ATM machines (cash machines).

2. Transfer and remittance. Cardholders can transfer or remit money to other accounts through bank branches, online banking, self-service banking and other channels.

3. Credit card consumption. Cardholders can use their debit cards to make purchases.

4. Collection and payment. Debit cards can be used to pay wages and various expenses (such as communication fees, water bills, electricity bills, gas bills, etc.).

5. Asset management. Financial products, open-end funds, insurance, personal foreign exchange transactions, precious metal transactions, etc. can be signed, traded and settled through debit cards.

Extended information:

There are two ways to use debit cards:

1. Password type

When shopping, you A personal password is required. PIN-based debit cards are only applicable to merchants that have installed online POS machines. This terminal equipment provides a device for entering personal passwords.

2. Signature type

Just like using a credit card, you need to sign the receipt when shopping. Signature debit cards are available at merchants with online or offline POS machines installed.

(1) Some debit cards are only suitable for password operations, while others are used for both password and signature.

(2) Signature debit cards are more flexible and can be used even at merchants that do not have password POS machines installed.

(3) Please consult your financial institution for the type of debit card issued.

(4) Regardless of the type of debit card, the amount will be automatically deducted from your account when you make a purchase.

(5) Both debit cards require a personal password to withdraw money at an ATM (automated teller) machine. The bank will give you an initial password when issuing the card.

Baidu Encyclopedia-Debit Card