Debit cards are commonplace today, but they’re a relatively new tool in the banking industry. Although the very first debit card was used in the 1970s, the cards did not have widespread acceptance until the 1990s. It wasn’t until 1998 that the number of debit card transactions outnumbered the number of checks used for purchases. Their use has continued to grow over the years, which is not really a surprise when you consider the benefits they offer cardholders.
6 Benefits of Using Your Debit Card
Some of the benefits of Visa-branded debit cards, like those issued to Mercer Savings Bank checking account holders, include:
- Speed of transactions. When making purchases with a debit card, swiping is faster than paying with cash as there is no need for a cashier to figure out how much change to give you. And using a debit card is much faster than writing a check!
- Accepted worldwide. You can use a Visa debit card to make purchases at millions of locations worldwide, including gas stations, restaurants and bars, movie theaters, retail stores, coffee shops, grocery stores, and even taxicabs, parking meters and parking ramps, just to name a few. Anywhere Visa is accepted, your Mercer Savings Bank Visa debit card will also be accepted.
- Eliminates the need to carry cash. When you have your debit card with you, there is no need to carry cash since you can simply swipe your card to pay for your purchase. Of course, if you want cash, another benefit is that your debit card doubles as an ATM card, giving you access to fast cash from your checking account at millions of ATMs around the world.
- Safer than cash. If your debit card is lost or stolen, one call will cancel the card, so it cannot be used by anyone else. In the event someone fraudulently uses your debit card or debit card number without your authorization, your liability is limited.
- Pay for purchases online. With your Visa debit card, you are not limited to making purchases in brick and mortar stores; you can use your card online just like a credit card to pay for purchases. You can also use a debit card to pay things like your monthly telephone or electric bill, and can set up recurring payments using your card (just don’t forget to deduct those payments from your check register!)
Debit cards have completely changed the way we pay for things today, and for the better. To learn more about Mercer Savings Bank’s Visa debit card, free with any of our checking accounts, contact us today in Celina, Ft. Recovery or Greenville.