Some of the advantages of debit cards include convenience, being able to save time, the ability to get cash back, and staying within a budget. Examples of disadvantages include having a harder time fighting charges, extra fees, not being able to improve credit, and minor fraud protection.
An individual who has a debit card doesn't have to worry about carrying around cash or a checkbook and pen to make purchases. There's also less hassle involved with using debit cards since they aren't viewed with as much scrutiny as credit cards or checks. A consumer who is on a budget can also benefit from using a debit card since he's only able to use the amount on the card. There's no need to worry about interest charges or late fees with debit cards.
One of the biggest drawbacks of debit cards is that the money is taken out of the individual's account as soon as a purchase is made, which makes it challenging to dispute faulty charges. An individual trying to improve his credit is unable to do so with a debit card since debit card use isn't reported to credit bureaus. Debit cards also aren't known to have the same level of protection as credit cards.Learn More
If your debit card has an issue number, it is probably on the front of the debit card to the right of the card number. If a debit card has an issue number, it will be clearly marked as such.Full Answer >
To use a debit card, open a checking account with a bank or credit union. Upon receiving the card, activate the card, and create a unique four-digit PIN number. Swipe the card anywhere that accepts your card provider, such as Visa. When prompted, enter your PIN to complete the transaction.Full Answer >
Cashier's checks can be cashed at the issuing bank, at the recipient's personal bank or through a check cashing service, according to Sophisticated Edge. According to the Uniform Commercial Code, the issuing bank of a cashier's check is obligated to honor it unless a stop payment has been issued.Full Answer >
One source of quick cash is to borrow money. Start by talking with a bank or credit union about a loan. Other possible ways of getting cash quickly are to consider asking one's employer for an advance of his pay, or to sell or pawn something that is not strictly necessary.Full Answer >