With so many different cards available, chances are most people do not consider just how many benefits could come from keeping a second debit card on hand.

Most everyday bank accounts now automatically come with a debit card, whether it is a basic bank-issued card or an option from MasterCard or Visa that offers even more accessibility to your money.

But there are also debit cards available for savings and other accounts, which can provide even more benefits for your financial situation.

To give you an idea of when a second debit card account would be useful, here is a look at three of the best reasons to have more than one card on hand.

Staying safe online

Having a second debit card can protect you from fraud and identity theft. If you have a separate debit card that you only use online, only those details will ever be compromised. If you transfer money in before you shop online, you’ll know how much money is in there. So in the case that someone does gets access to your online card details, they won’t be able to use it for anything as you’ll know that’s the only card that’s online. If you do notice dodgy transactions, you can lock the card straight away and notify the bank.

Avoiding Daily Withdrawal Limits

It is common for debit cards to have a daily withdrawal limit that can affect how much you are able to spend on the card both in person and online within 24 hours.

These limits could be anywhere from $500 up to $2000, but can be restrictive for people who want to pay for larger purchases, like whitegoods or furniture, on debit.

Having two debit card accounts would mean you could pay for these kinds of things across two cards so that you would not need use credit cards as an alternative or worry about daily debit card limits.

Maximising Budgeting Options

With two different debit cards on hand there is more opportunity to keep your funds organised.

Someone who has an everyday account and a savings account, for example, might want to pay for most purchases on their everyday debit card but use the savings account debit card for more specific charges.

Budgets for each account could then be worked out according to income and spending needs so that they are as efficient as possible for your money management needs.

Emergency Funds

It is not uncommon for people to keep a secondary credit card for emergency funding, but there is a lot more risk of expenses with these kinds of cards.

A debit card account set up for emergencies, on the other hand, could provide instant access to cash without the extra costs of interest rates and repayments.

Some people may even want to set up a separate account for emergency funds and regularly transfer nominal amounts into it so that they are covered no matter what happens down the track. This option offers a lot more financial security than a credit card because it would still be your own money spent if things did go wrong.

Whatever your financial situation, it is a good idea to make use of all the resources available so that you can get the most out of your accounts and your cards.