Visa Debit Card – Compare Visa Debit Cards
A VISA Debit Card allows you to spend your own money, not the banks, giving you the convenience of a credit card, with out the risk of getting in to debt.
What is a VISA Debit Card?
The VISA Debit Card is a type of card that gives you an alternate payment method to cash, when spending your own money. When you make a purchase using debit cards, the funds are withdrawn directly from your savings bank account or from the remaining balance that is on the card.
Check out some of the leading Visa Debit Cards in the Australian market.
VISA Debit Card Comparison
How the Visa Debit Card has evolved over the years
A Visa debit card is very similar to a Visa credit card because they both operate on the credit card system. This means that merchants accepting credit cards will also accept debit cards for payments. The debit card is directly linked to a transaction account that the cardholder has at a bank or financial institution. It looks just like a credit card, but it uses cash that the cardholder has in his bank account. There is no credit given on a debit card, which means that there is no credit history check. This makes the Visa debit card accessible to almost anybody.
The Visa history is very interesting. Visa has recently converted over from a co-operative of all the Visa card issuers to a profit-making company. It now has shares which are traded on the New York Stock Exchange.
VISA had its start in California. It was introduced by the Bank of America that had watched the ideas set forth by American Express and Diners Club become popular. They expanded on the Diners Club card and began to offer their own card to customers that wanted to shop using credit at shops, and have all this credit consolidated in one account.
The launch was held in Fresno California even though the Bank of America was based in San Francisco. The Bank of America had a large customer base in Fresno, and they decided to mass mail out their cards to this customer base. The mass mailing was based on a preset credit limit, so only the customers that met the standards were mailed a card. This was the first time that a mass mailing was done like this, and since then there have been many more.
The Bank of America also wanted to make sure that word would not spread if the launch was a failure. Fresno is more isolated from the rest of California than any other major city, so it was a good choice. Needless to say, this launch was far from being a failure.
The Visa debit card was introduced to the public in the 1980s. Since then it has become part of the Australian lifestyle. It is a good option if you don’t want, or can’t get, a Visa credit card.
This is a Visa history summary of the Visa debit card and its beginnings. This card has a strong history, and an even bigger future.
Where can you use a VISA Debit Card?
Visa does not operate its own transaction account, so any debit cards offered by Visa must be linked to a bank account or an account with another financial institution that offers a Visa debit card. Visa is a payment processor, and it works on behalf of these financial institutions on a worldwide basis. The Visa debit card is operated by the bank that is offering them.
A VISA Debit Card gives you the convenience of a credit card, allowing you to pay your bills over the phone, go shopping online when you’re on the internet, or make a purchase over the counter in an EFTPOS machine. The other major benefit of a VISA Debit Card is you are able to use your card overseas to make purchases, anywhere a VISA card is accepted (over 29 million locations worldwide!). You can also use your card in an ATM machine to make a cash withdrawal from one of over 1 million ATM machines world-wide that accept VISA cards.
Using your VISA Debit Card
You can use your VISA Debit Card everyday, like you would any credit card or EFTPOS card. When paying for a transaction, simply press the “credit” button on the EFTPOS machine, and the money comes straight from your own bank account. When you press “credit”, it doesn’t mean you’re paying by credit, but it does ensure you will be protect by VISA’s Zero Liability policy which protects you against unauthorised transactions. You have the choice of using either a PIN Number or signature when authorising the card purchase.
Benefits of VISA Debit Cards
- The primary benefit of a VISA Debit Card is being able to reduce the risk of getting in to credit card debt, by ensuring you’re spending your own money, and not over-extending yourself by getting a credit card balance you may not be able to repay.
- Any purchase that you make on your card is covered and protected by VISA’s Zero Liability policy
- It’s a lot more convenient, easier and safer than carrying cash or using your EFTPOS card.
- Access your transaction records for your card online instantly through internet banking.
- You don’t need a good credit history. When applying for a VISA Debit Card, the banks don’t do a credit check, making the application process fast (and painless!).
How to apply for a VISA Debit Card
To make it easier when choosing a VISA Debit Card, we have included a comparison of Australian VISA Debit Cards below. Compare each cards details, monthly account keeping fee, and annual fee. Once you’ve selected the card you would like to apply for, click the “Apply” button to begin the online application. It’s as easy as that!
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I need a Visa debit Card for use in Zimbabwe as soon as possible – who and how can I make this happen ? My wife who is visiting her ill father there at the moment has Mastercard which are not widely accepted.
Hi Greg. Sorry about the delay getting back to you. I’m not sure if this answer is still relevant; however, the quickest way to get a Visa debit card is to see a representative in branch. Jacob.
Can I make purchases of over A$1000 online with my Visa Debit Card?
Hi Margaret. Thanks for your question. A Visa Debt Card uses your own money for online transactions, the amount you can spend is limited by the amount of cash you have in your account. Cheers.
Can I use my visa debit card online where the site shows ‘ pay only by credit card ‘ ?
Hi Ansari
Thanks for your question
It is possible to use a Visa Debit Card wherever Visa is accepted online, even when it say “pay only by credit card’ so long as they accept Visa, which most online payment facilities do.
I hope this was helpful for you
Cheers,
Jeremy
Hi there,
I am interested in using a $200 Visa Debit Card as a giveaway in a competition. Are there any restrictions or information that I would need to include in my competition terms and conditions?
Hi Jenna. It depends on how you hose the competition. For instance, Facebook imposes restrictions on some give-aways etc. How did you plan to do this. Our understanding is that once you have purchased the card, you’re free to use it in whatever legal means you wish. Jacob.