What exactly are debit cards?

Question

are they pre-paid?

Can I get one, I'm 14?

do you have to pay a monthly fee?

I live in Australia btw.

Answer 1

Debit cards pretty much act like credit cards. You can use them just like you would with a credit card. Only the amount is deducted immediately from your bank account when it is used (unlike the credit card where it is credited and then you pay the bills later with interest).

It is basically like issuing a check, but much easier and usually have features where in you can keep track of your transactions online.

Debit cards also have less requirements to obtain. I just got my debit card a couple days ago and I need to pay an annual fee for it.

Answer 2

Unfortunately you pay fees on all cards

A prepaid - allows you to use the "credit" facilities however as it says you prepaid the amount like $100"

The debit card is where you use fund that are already in your account.   Speak to your parents for advice i think they have to sign for your account because of your age.  

Answer 3

In order to get a debit card, you need to have money in the bank. debit means you are good for the money, as opposed to credit.

Answer 4

It is a card from a bank that you have money in It so you can get money from other places and you dont need to go all the way to your bank. then they charge a fee for using there atm machine. you dont need one

Answer 5

You need a bank account.  They are like checks, but alot easier. Also like credit cards.

Answer 6

http://www.direct.gov.uk/en/MoneyTaxAndB...

Debit cards are linked directly to your bank account. You can use them to buy goods or withdraw cash and the amount is taken from your account right away.

Yes you can get one although you may have to have your parents permission, and obviously have money in your bank account, i have one and i like the idea of the money coming directly from my account rather than having a bill sent to me once a month.

I'm an Aussie to.

Oh and to answer your question on fees, well it depends on who you are with, i am with a Building Society and i can have up to 5 transactions a month free.

And one last thing, just be very careful using it over the internet, make sure they are reputable people to deal with.

Seeing you already have an account with money in it all you have to do now is apply for it.

I think you can get a Visa debit Card through the Commonwealth bank. anyway just ring up and ask,

I just saw an answer that someone gave to a similar question regarding the Commonwealth bank and a guy said no they don't have it yet, so just ring up to find out for sure, if not just transfer your money to a bank that does, i did. and glad i did.

I'm with Heritage Building Society and couldn't be happier, i was with Commonwealth to but got out of them because their fees were too high.

Answer 7

Debit cards are card which you can use an ATM machine to obtain cash. It is an alternative to cash when making purchases. Ask your local banks about its process, it merely depends on the types of debit cards in a particular area.  

Answer 8

debit cards work the same way that credit cards do except they are prepaid.you wont be able to get one but your parents can.some banks may charge a monthly fee.i have an anz one and they dont charge a monthly fee.

Answer 9

You can get one as long as you have a bank account. They are just like your atm card (they take the money directly out of your account) but they have a long number and expiry date the same as a credit card. You can use them like a credit crd or a regular atm card...they are brillint I swear by mine!

Talk to your bank about getting one and see what they can offer you. If you're too young ask your parents to sort it out for you.

Depends what bank you are with as to whether there is a monthly fee. It varies. My bank charges $5 per month for unlimited transactions.