Question about debit.

[Grandor]

I recently applied for a debit card at my local bank and was a little curious about something. I never had a debit card before nor a credit card and I had a few questions for a few of you financial experts out there:

How long does it take for a debit card to be made? Does it depend on the bank itself?

Does a debit card have a CSC like on a credit card?

Do all debit cards require the pin to function?

Do debit cards have expiration dates?

I've noticed most sites that have debit ask for the same information as credit cards. Is their a reason for this?

I would have asked the banker but all of these questions only came to me now when I tried to make a online payment.

 

[arcthemonkey]

I'm sure the time it takes to make them depends on the bank, and I don't know what "CSC" is.

For your next question, you should know that a debit card can be run as debit OR credit. It comes off your card the same way, although running it as credit can take longer, and sometimes costs the merchant some money. This is important because a card can't be run as debit without the PIN. If they don't ask you to enter your PIN, the card was, necessarily, run as credit.

Debit cards DO expire. It's supposedly a security feature.

And the reason that sites ask for the same information is because a debit card and a credit card are the same thing, short of where the money comes from. It would be silly to ask you to just put in your name and birthday or something, and it would be needlessly complex for the people making the sites to have to have seperate debit and credit entry methods.

So again, a debit card is a credit card without the credit.

 

[Marcus]

How long does it take for a debit card to be made? Does it depend on the bank itself?

1 to 2 weeks

Does a debit card have a CSC like on a credit card?
If you mean the 3-digit security code on the back, then yes they do.

Do all debit cards require the pin to function?
For online transactions, yes. But if you go to a store that accepts any major credit card it simply removes the pin from the strip on the back just like a credit card.

Do debit cards have expiration dates?
Like all cards. It usually expires 2 or 3 years after you apply.

I've noticed most sites that have debit ask for the same information as credit cards. Is their a reason for this?
The same information on a debit card is on a credit card. The only thing they ask is PIN, Expiration, Name, and (sometimes but not often) the 3-digit number on the back.

A debit card removes money from your bank directly. A credit card sends a bill to your provider who then sends you a bill at the end of the month which you have to pay off (with increasing interest). Honestly, credit cards worthless. A debit card almost always works in place of one (unless you're buying something massive like a car or house... in which case a loan is recommended) and you shouldn't ever, ever buy anything that's not important unless you have the money for it. I have a visa platinum and perfect credit and the only things I buy with it are plane tickets and rental cars.

Just a little monetary tip. I see so many young people with bad credit and financial problems all stemming from a hot piece of plastic. In most cases, you end up paying more for an item you purchased with a credit card than if you bought it directly due to interest. It is nice to get something now and be billed later, but if you do something stupid like paying off minimum costs you'll find yourself in massive debt soon.

 

[Mega Flare]

you get your card right away. they normaly send one with your name in a few weeks but some bansk dont anymore. debt cards DONT expire. or at least in canada

 

[Monk]

How long does it take for a debit card to be made? Does it depend on the bank itself?

1 to 2 weeks

Does a debit card have a CSC like on a credit card?
If you mean the 3-digit security code on the back, then yes they do.

Do all debit cards require the pin to function?
For online transactions, yes. But if you go to a store that accepts any major credit card it simply removes the pin from the strip on the back just like a credit card.

Do debit cards have expiration dates?
Like all cards. It usually expires 2 or 3 years after you apply.

I've noticed most sites that have debit ask for the same information as credit cards. Is their a reason for this?
The same information on a debit card is on a credit card. The only thing they ask is PIN, Expiration, Name, and (sometimes but not often) the 3-digit number on the back.

A debit card removes money from your bank directly. A credit card sends a bill to your provider who then sends you a bill at the end of the month which you have to pay off (with increasing interest). Honestly, credit cards worthless. A debit card almost always works in place of one (unless you're buying something massive like a car or house... in which case a loan is recommended) and you shouldn't ever, ever buy anything that's not important unless you have the money for it. I have a visa platinum and perfect credit and the only things I buy with it are plane tickets and rental cars.

Just a little monetary tip. I see so many young people with bad credit and financial problems all stemming from a hot piece of plastic. In most cases, you end up paying more for an item you purchased with a credit card than if you bought it directly due to interest. It is nice to get something now and be billed later, but if you do something stupid like paying off minimum costs you'll find yourself in massive debt soon.

Amen to that. Good credit is pretty much essential to success, in my experience at least.

 

[Mega Flare]

you cannot use Debit cards online.

 

[Shizu]

you cannot use Debit cards online.

A regular, no, but For example, a Visa Debit, certainly. And for the full convenience even applicable on PayPal. The joy. ^_^

 

[holloway]

Mega Flare, do you ever say anything that isn't pure shite? Nowadays almost ALL debit cards can be used online. The only ones that can't are Cashier's Cards (which under 16s are generally given) and dodgy cards from places like Turkmenistan.

 

[ccoa]

Almost all debit cards can be used online, the exception are those with the Star logo rather than a Visa or MasterCard logo. These are getting increasingly rare, but they do exist.

You do not need a pin number to use a debit card online, you can use it exactly like a credit card. You do not need a pin number to use it anywhere Visa or MasterCard is accepted, so long as it has the Visa or MasterCard logo. However, you do need the pin number to get cash back on transactions, for stores that do not take credit (there are stores that take debit but not credit), if your card has the Star logo and not a Visa/MasterCard logo, and at ATMs.

 

[Prexus]

America must be definitely different than Canada.

Canadian Debit Cards are usually printed on the spot, have no CSC, (I thought it was CVS, but I could be wrong.)

They don't expire, ALWAYS require a PIN, and can't be used like Credit Cards either online or offline.

But that is Canada. I recently got a brand new Debit Card (Within the last few weeks) because my old one was lost, and I assure you it can't be used online and has none of the things that ccoa and Arc are talking about.

 

[holloway]

In the UK, all non-internet purchases require a PIN now thanks to Chip and Pin.

 

[Grandor]

Thanks for all the valuable info!