Situations where using your Debit Card can be better than cash

In the post-pandemic era, digital transactions are growing rapidly with Debit Cards being preferred the most by consumers. Data released by the RBI shows that 69.6 million debit cards were issued between April 2020 and March 2021. While cash is indispensable in its own way, there are some instances where using a Debit Card is far better than relying on cash. Apart from the convenience that a Debit Card offers, there are deals and rewards.

Here are some noticeable benefits that a Debit Card offers you:

• Recovering from a loss
  Once cash is lost or stolen, it is almost impossible to recover. But in the case of debit cards, you can immediately contact the bank to block the card and get a new one in under a week. If there are any fraudulent transactions being made on your card, it is vital that you report them to the card issuer as early as possible. This can help limit further losses. In fact, the RBI has recommended that consumers set up transaction limits on their cards for this very reason. Although tracing a Debit Card is also much easier, it is better to just block it and get a new one.

• No restrictions
  In this modern age where almost everything is online, it is hard to avail of great deals and benefits solely with cash. This is when your shiny Debit Card comes in handy as it lets you shop online, make swift payments, book flights, and more. Online transactions can be achieved in a jiffy using your debit card.

• Keep track of your spending
  When you use a Debit Card, you get monthly statements about the details of your spends. This lets you keep track of your spending habits and create a proper plan to save money based on your statements. It is helpful to sign-up for email/SMS alerts so that you can easily track your expenses. Another good practice is to scan your purchase receipts and store them in an expense tracking app so that you can reconcile them later with your bank statement. With cash transactions, it is often very difficult to keep track of what you have spent on, when, and why.

• No need to carry cash
  In the case of cash transactions, it is often hard to estimate how much cash to carry on you. You could easily fall short. On the other hand, if you go to the other extreme, it is highly inconvenient (and unsafe) to carry around wads of currency notes. A Debit Card makes life much easier, and you won’t attract unwanted attention either.

• Be eligible for perks and offers
  With cash, you spend the amount you have and don’t get any added benefits. But in the case of Debit Cards, many banks offer some perks to customers. This could be in the form of CashBack offers, lower interest rates, shopping deals, restaurant deals, travel insurance, and more.

To sum up, using a Debit Card can be much more beneficial than spending cash in many situations. That is why having an HDFC Bank Debit Card will help you in many situations where cash may not be handy. You can make fast transactions, shop online with ease, keep track of your spending, and get good offers and deals.

Wondering when to use your Debit Card or Credit Card? Click here to read more!

Needless to say, the entire process is completely safe and secure. Invest in an HDFC Bank Debit Card today and see the difference for yourself!

To get started on your HDFC Bank Debit Card application, click here New customers can get a new Debit Card through opening a new Savings Account while experiencing hassle-free banking with HDFC Bank.  Existing HDFC Bank customers can get their Debit Card reissued within minutes here.

*Terms and conditions apply. Debit and Credit Card approvals at the sole discretion of HDFC Bank limited. Debit and Credit Card approvals is subject to documentation and verification as per Banks requirement.