Debit cards are such a convenient and secure way to access your money without carrying cash. You can pay for goods and services online, in-store, over the phone or the old-fashioned way by mail order. You can also use them to withdraw cash from ATMs, make deposits at branches or even transfer money to other accounts.

Unlike credit cards, debit cards use your own money. This means you don’t have to pay nasty interest or fees on your purchases. That is, unless you overdraw your account or use an ATM that charges a fee. You also have more control over your spending, as you can really only spend what you have in your account.

Debit cards are widely accepted in Australia and overseas. They will either have a Visa or Mastercard logo on them, which means you can use them wherever these cards are accepted. However, some merchants may charge a surcharge for using a debit card, especially for small transactions. You should always check the surcharge amount before you pay with your debit card as the Reserve Bank of Australia has brought in rules and regulations around surcharges.

Debit cards also offer some benefits and protections that cash just quite can’t. For example, if your debit card is lost or stolen, you can report it to your bank and get a replacement card or a refund for any unauthorised transactions. You may also be covered by Visa or Mastercard’s zero liability policy, which protects you from fraudulent charges on your card. Additionally, some debit cards may offer rewards programs, travel insurance or other perks that can save you money or enhance your experience.

Here’s a list of the articles we’ve written on the many features you can find on debit cards.