Almost every single person out there has a debit card they use these days, but not everyone realizes the benefits that come with having one.
Although swiping a debit card has become second hand to most, it's important to understand when it’s best to use one over cash, checks, or credit cards, and why.
Most debit cards function on a fundamental level. They’re issued by banks so that cardholders can easily and quickly move money from one bank account to another electronically. When making a purchase, money is withdrawn directly from the cardholder's bank account, and is deducted. Debit cards function as an ATM card (so that you can take out cash instantly) or as a check so that when a purchase is made, money is deducted from the cardholder's account immediately. Seacoast Bank’s Visa® Debit Card, provides additional benefits that come from the association with Visa®, such as compatibility with Visa Checkout and Apple Pay™. Here’s five more reasons why using a debit card is your next best life decision.
Several individuals believe you need a credit card to make certain purchases, like shopping online, renting a car, or having an emergency fund. With debit, you can spend the money you already have. When renting a car, for instance, the car rental company will put a small hold on your card that will be released once the car is returned without damages.
It's also safer to use debit cards, rather than carry around cash, which can easily get stolen or lost. There’s an extra layer of security with debit cards like the chip, pin, and online banking access that allow you to track transactions right from your phone. When you use your Seacoast Visa® Debit Card, you're protected against fraud with Visa's Zero Liability*, and the bank will continuously monitor your account for suspicious activity.
Additionally, you don't need a credit card to build your credit. By simply paying your bills on time, like rent and utilities, you'll build enough credit over the years to quality for big life expenses like a home loan.
While most credit cards require you to have a monthly or annual fee to keep the card, there’s typically no fee attached or minimum balance required with debit.
With a Seacoast checking account attached to your debit card, there’s a $0 monthly maintenance fee when you meet any of the following criteria.
This criteria drops even lower for customers who are 55 and older—like having at least one direct deposit of $250 or more per month. A Senior Classic Checking Account can help you earn interest, get free checks, and gives you access to 1,100+ free Publix ATMs.
Many debit cards nowadays also offer special points and bonuses. Spending on everyday purchases you know you’ll make anyway, like groceries and gas, is a great way to maintain your debit card and get special offers.
If you love to shop and eat out, there are plenty of relationship-type rewards you can get for simply using your debit card. For instance, you might get a discount at Community Restaurant after you grab a bite to eat at Family Diner. Saving money is possible when paying close attention to the various promotions that become available as you make purchases. Seacoast offers different deals and exclusive coupons from your favorite retailers. When using a Seacoast debit card, you get great deals like this:
Those who don't quality for a credit card, or can't afford how expensive the fees can be, can sign up for a debit card like this and reap the benefits. Plus, with Opportunity Checking from Seacoast, there are specific options designed and available for customers who have previously been unable to open a checking account or get a debit card due to prior credit or banking history.
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