How to get a debit card so you can withdraw cash from an ATM


how to get a debit card

A debit card withdraws money directly from your checking account, either to make a payment or to convert into cash.
Once you have a checking account, getting a debit card is as simple as asking for one.
To use a debit card, you’ll need a checking account and a PIN number.
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A debit card withdraws money directly from your checking account, either to make a payment or to convert into cash.

Because a debit card is connected to your checking account, the money is immediately deducted as you spend, and you don’t build balances that incur interest charges like you would on a credit card.

However, you also don’t earn rewards like you would with a credit card, you don’t get the time to pay off your balance like you would with a credit card, and you don’t build credit like you would with a credit card. Using a debit card to make a payment is almost exactly like using cash, just with an electronic transaction and record of your purchase.

Most checking accounts automatically come with debit cards, so you can withdraw cash from an ATM. Here’s how to get one:

How to get a debit card
1. Open a checking account

Checking accounts can be easily opened at a bank or credit union, although some may have a minimum open balance requirement — the amount of money you must store there in order to keep the account open without paying fees to the bank. Be prepared to put money in the account immediately.

Some checking accounts might also have activity requirements, which dictate how often you must be depositing money or using the account in order to avoid paying fees. Also, you’ll probably want to choose a bank or credit union with a wide network of ATMs in …read more

Source:: Business Insider

      

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