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Debit Cards
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20 Products Found
4.7
80 Reviews
Speed of Approval
Customer Service
"Convenient All-In-One Card — Now With The Best Rewards Club Ever. Download..." 1mth ago
4.4
102 Reviews
Speed of Approval
Customer Service
"The DBS Visa Debit Card gives you up to 3% cashback when..." 1w ago
4.8
26 Reviews
Speed of Approval
Customer Service
"You have the flexibility to access your funds anytime AND earn competitive..." 1mth ago
4.8
25 Reviews
Speed of Approval
Customer Service
"Enjoy Membership Privileges — Exclusive SAFRA Privileges and Access to Club Facilities...." 1w ago
4.4
24 Reviews
"Tri-brand HomeTeamNS-PAssion-POSB Debit Card to be discontinued from 30 Apr 2024. HTNS$..." 1mth ago
4.0
22 Reviews
Speed of Approval
Customer Service
"card was prone to scammers/hackers previously and ocbc changed the card subsequently...." 16mth ago
4.5
11 Reviews
"The design was simple and nice. I loved it alot. Used it..." 29mth ago
4.3
7 Reviews
"The UOB Direct Visa Debit Card is a debit card issued by..." 18mth ago
4.4
5 Reviews
"Does anyone know how to use this card in Chinese yen other..." 14mth ago
4.4
5 Reviews
"[Card Hacks] Good to always check the OCBC paynow app. They do have random..." 20mth ago
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When you make a transaction with a credit card, what you are essentially doing is using the banks' funds to pay for your transaction - which ends up in you owing the bank money of which the balance you have to pay at a later time. For debit card transactions, you are using the funds available in your savings or checking account to pay for that transaction.
When you make make a transaction or a purchase with a debit card, the funds required to complete the transaction comes from your savings or checking account. For credit cards however, the amount is charged to your credit issuer (in most cases, a bank) and it becomes your balance of which payment will have to be made at a later time - including interests.
A debit card works by directly drawing funds straight from the checking or savings account it is directly tied to every time a transaction is made.
The minimum age for a debit card application in Singapore is 16 years old.
To apply for a debit card you first need to apply for a savings or checking account with the card issuer. After which, you will then be able to request for a debit card that will be directly tied to the account you've applied for. All it takes after that is to activate your account so you can start utilizing your debit card.
Most card issuers provide debit cards for free upon opening a checking or savings account. Fees that can be incurred with the use of a debit card are annual fees, transaction fees for spends in foreign currencies and card replacement fees.
Since the debit card is tied to a checking or savings account, users need to take note of the minimum account balance required for some accounts to be maintained which is around $500 to $3000.
The best way to choose a debit card is to pick a savings or checking accounts that best suits you. Things that will affect how suitable a card is for you are the initial deposits, interest rates and the annual percentage yield (APY), minimum balance requirements, perks and benefits, and also accessibility in terms of ATM availability.
You will need a bank account to get a conventional debit card as that is where the funds are being drawn from. For a person without a bank account, they can consider getting a prepaid debit card which functions similar to a debit card but as its name suggest, requires a top-up of funds before hand before it can be used.