wat is the diff between debit card and atm card??


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compro_1975

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Apr 24, 2005
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what is the difference? they both debit straight from the bank account rite?
 

kcuf2

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the most most most important advantage of a debit card is that the card has a visa, mastercard etc.. number on it. Meaning u can use this number to do online purchases, as if u have a credit card like that.

If u only have an atm card, u can forget abt online purchases..

sounds interesting? OF COURSE!!! but that will also make u spend more eg. buy on yahoo auctions, ebay, cinema tickets, sistic concerts etc.

You dun have to sign using a debit card, u can still use it as a atm card and press the numbers in the card machine. All in all, its a better card and do wat a normal atm card can do
 

hongsien

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#4
A debit card usually is linked to the VISA or Mastercard system, so you can use it almost anywhere as a VISA card (or Master) using that system. No need to go to an ATM machine......

For ATM cards, you can't pay in the shop/restaurant, you need to withdraw funds fist at an ATM machine.....

Both deduct immediately from your account.

There may be other differences in the interest rates, but I am not sure about that, you need to check with your bank.

Hong Sien
 

Del_CtrlnoAlt

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#5
the most most most important advantage of a debit card is that the card has a visa, mastercard etc.. number on it. Meaning u can use this number to do online purchases, as if u have a credit card like that.

If u only have an atm card, u can forget abt online purchases..

sounds interesting? OF COURSE!!! but that will also make u spend more eg. buy on yahoo auctions, ebay, cinema tickets, sistic concerts etc.
try buying pizza from pizza hut with a debit card? :devil:
 

kcuf2

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try buying pizza from pizza hut with a debit card? :devil:
mmm..i never try that before, but for ALL of my mcdonald's deliveries, i used my debit card :) because i dun have spare notes and coins arnd at home to pay the delivery man. And ya, thats another form of convenience

BTW, i would recommend u place lesser amount in the account linked to the debit card. eg. < $200 or < $500 or watever amount u can afford to lose.

Because for example the Mac delivery, u have to give the debit card number over the phone, so its a bit dangerous. For my case, i m quite "safe" because my debit card account regulary contains no more than $50 hhahaahha
 

compro_1975

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Apr 24, 2005
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For ATM cards, you can't pay in the shop....
Hong Sien
can not pay in shops??? then why i see ppl using in NTUC? i guess that is ATM card cos it is by a very young student ard 13++ nia :confused:
 

compro_1975

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Because for example the Mac delivery, u have to give the debit card number over the phone, so its a bit dangerous. For my case, i m quite "safe" because my debit card account regulary contains no more than $50 hhahaahha
means u have to keep top-up the debit card account every it uses up the $50?
 

kcuf2

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means u have to keep top-up the debit card account every it uses up the $50?
ya...because u must remember one fundamental thing. The debit card is linked to ur savings account. So if ur savings account got $50 and u used it up, u got to "top up" rite?

just think of it as a normal savings account with online transaction features
 

compro_1975

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ya...because u must remember one fundamental thing. The debit card is linked to ur savings account. So if ur savings account got $50 and u used it up, u got to "top up" rite?

just think of it as a normal savings account with online transaction features
ooo auto one la, i thought have to do it personally then it would be rather ma fan
 

LENS

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Apr 8, 2005
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you can treat debit card as credit cards with limit, and the limit is what is in your bank account.

credit card is useful when u pay thing online, to use oversea, to pay for hotel.. but not everyone will be eligible to get credit card if he/she doesn't earn much salary or stable income.. so here is debit card, you can use as visa/mastercard, but it is controllable..
 

kcuf2

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ooo auto one la, i thought have to do it personally then it would be rather ma fan
nono...its not automatic.. alamak

wat i mean is, after i used up the money in that debit card account, i go and deposit cash back into the account. Yes its ma fan..
[or u can do a internet funds transfer and transfer fund from other accounts into ur debit card account]

And in case i blur u just now, debit account dont need to put just $50, u can put 1 million or 1 billion also can..
 

Big Kahuna

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Dec 15, 2004
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#13
Someone was right on the above, debit card uses the same credit card infrastructure....so the coverage is almost worldwide with main player like Amex, Visa or Master......as for ATM, it depends on the bank network and we are lucky in Sg we have Nets linkage.....if not you need to physically withdraw money from the the cash dispenser or we call it ATM machine :lovegrin:
 

LENS

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aiya..if you need to use credit card like visa/mastercard, yet you are a student..too young, or didn't have an income, or housewives, or want to control your usage.. then debit card is for you lor..
 

compro_1975

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Apr 24, 2005
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nono...its not automatic.. alamak

wat i mean is, after i used up the money in that debit card account, i go and deposit cash back into the account. Yes its ma fan..
[or u can do a internet funds transfer and transfer fund from other accounts into ur debit card account]

And in case i blur u just now, debit account dont need to put just $50, u can put 1 million or 1 billion also can..
oooo, ic. msg noted;)
 

blazer_workz

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May 8, 2006
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#16
ATM card:
- Use for withdrawal of cash from bank account at ATMs using a pin no.
- NETS, a system for making purchases without needing to withdraw cash, but not widely supported by online purchases (eNETS)
- Amount u can spend is limited by amount u have in ur account, and the daily withdrawal limit
- Amount use is directly deducted from bank account

Credit card:
- Usually known as VISA, MASTER, AMEX, etc.
- Does not support NETS
- Needs only signature for purchases over store front, needs card number and verification code for online purchases
- Withdrawal of cash is allowed through means of a pin no., and only at designated machines that support CIRRUS
- Amount u can spend is limited by bank, usually 2 times ur monthly income, no daily limit as long monthly limit is not hit
- Amount used, have to be pay up monthly, by means of SAMS, AXS, linked to bank account, etc.

Debit card:
- Is just like ATM card, with VISA or MASTER cards features, and supports NETS (Just like a Credit card that works like an ATM card)
- Needs only signature for purchases over store front, needs card number and verification code for online purchases, needs pin no. for cash withdrawl at ATMs
- (When in overseas)Withdrawal of cash is allowed through means of a pin no., and only at designated machines that support CIRRUS
- (When in Singapore)Withdrawal of cash like an ATM card
- Spending limited by amount in bank account and daily limit
- Amount use is directly deducted from bank account

Above information is base on what i know, if any mistakes spotted pls advise..

Debit card is the way to go man..hassle free..spend what u have only, dun get urself in debts..:bsmilie:
 

compro_1975

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Apr 24, 2005
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#17
ATM card:
- Use for withdrawal of cash from bank account at ATMs using a pin no.
- NETS, a system for making purchases without needing to withdraw cash, but not widely supported by online purchases (eNETS)
- Amount u can spend is limited by amount u have in ur account, and the daily withdrawal limit
- Amount use is directly deducted from bank account

Credit card:
- Usually known as VISA, MASTER, AMEX, etc.
- Does not support NETS
- Needs only signature for purchases over store front, needs card number and verification code for online purchases
- Withdrawal of cash is allowed through means of a pin no., and only at designated machines that support CIRRUS
- Amount u can spend is limited by bank, usually 2 times ur monthly income, no daily limit as long monthly limit is not hit
- Amount used, have to be pay up monthly, by means of SAMS, AXS, linked to bank account, etc.

Debit card:
- Is just like ATM card, with VISA or MASTER cards features, and supports NETS (Just like a Credit card that works like an ATM card)
- Needs only signature for purchases over store front, needs card number and verification code for online purchases, needs pin no. for cash withdrawl at ATMs
- (When in overseas)Withdrawal of cash is allowed through means of a pin no., and only at designated machines that support CIRRUS
- (When in Singapore)Withdrawal of cash like an ATM card
- Spending limited by amount in bank account and daily limit
- Amount use is directly deducted from bank account

Above information is base on what i know, if any mistakes spotted pls advise..

Debit card is the way to go man..hassle free..spend what u have only, dun get urself in debts..:bsmilie:
wow, a big tks from a newbie
 

niki

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Dec 3, 2005
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#18
credit card = u spend as if u really got the money, then later pay like mad..
debit card = u spend the money u really have.. btw, debit card can sign also.. from the last time i remembered..

but seriously, dun apply for too many credit cards.. juz get 1 visa, 1 mastercard.. that will suffice..
 

compro_1975

Senior Member
Apr 24, 2005
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#19
credit card = u spend as if u really got the money, then later pay like mad..
debit card = u spend the money u really have.. btw, debit card can sign also.. from the last time i remembered..

but seriously, dun apply for too many credit cards.. juz get 1 visa, 1 mastercard.. that will suffice..
why dun apply too much? dun use also have to pay? sorry ar, i young, wanna noe more so that can plan
 

blazer_workz

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May 8, 2006
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#20
why dun apply too much? dun use also have to pay? sorry ar, i young, wanna noe more so that can plan
Apply onli those with free gifts..then when card comes, cut it into halves to avoid using them..cash is still the best!:thumbsup:

I have always been wondering why we have to pay more at shops when making purchase with credit cards? I ever heard of the bank commission and stuff..but i just find it nonsense..shouldn't we get more discount when paying by credit cards? because in the end the banks are benefiting from it if we uses their system..imagine 1 day, no one wants to use credit card anymore, and ppl only spend with cash..:think:
 

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