Everyday life at every step is tempting, which of which is more tempting and more commercial. Very often small (and big) things in our lives require some money to provide them. A lack of funds could lead to a situation of personal disappointment or suffering if we can not secure a certain thing or service.
In practice, even going out of the home and normal lifestyle are committed to using money. This can be considered a modern law of the society in which we live. Therefore, having a certain amount in our pocket is absolutely essential.
For this, we often use a variety of financial services and bank products to make it easier for us to pay in shops, outlets, and administration. As modern people, hardly any of us are familiar with debit and credit cards. And the probability that we have not owned and used them practically borders zero.
But to use this kind of product we need to know the principle of work and their specifics. If it appears that you have just planned to own such a method of payment, you should be aware of all the details of the creation, use and obligations that you have to cover when using them.
What is the most important thing to know and what are the benefits
- You facilitate your payment for different goods and services;
- Save valuable time, which in other cases is spent in exchange of banknotes, return of rest, etc;
- You do not need to have cash in yourself;
Through the debit account everyone has the opportunity to have permanent access to their money and thus facilitates any payment procedure at a commercial site. In combination with a handy and near ATM, your funds are a few minutes away from you, thus making it difficult to pay for anything at any time of the day.
This is an ideal way for anyone who wants to handle money that is available in their bank account without taking into account the time of the transaction. That’s what makes these sculptures so comfortable, as we all know that every standard bank has working time, and in practice it imposes certain constraints on us.
One of the main things that distinguishes both types of financial “instruments” is that you only have the money available in your bank account and nothing more.
The credit card situation is slightly different. Generally speaking, we can make various payments without limitation, depending on the contract we have set and the limits set by the bank with which we have contracted. In this way, everyone has a lot more freedom in shopping, but it is important to be reasonable in different situations, of course.
When can we make use of the services of these payment methods?
Whenever a particular commercial object has a device to “read” information from the respective “tools” it is quite possible. The other option is to withdraw money from the nearest ATM. In the modern world, more and more commercial establishments and state institutions have devices to handle this type of business relationship.
What are the charges and interest rates?
In most cases, debit accounts have a certain minimum charge, which is withdrawn automatically over a period of time in relation to the contract with the bank. A fee is sometimes paid automatically when withdrawing from a different ATM than the bank that has issued your sculpture. It can be between 10 and 60 stotinki or get to leu when you withdraw money from an ATM to another bank you are not a client of.
On the other hand, it is generally accepted that the fees are considerably higher when withdrawing money with a credit card. In practice, this depends largely on your contract with the bank and the terms it offers.
When you withdraw money from an ATM while you are abroad, in most cases the fees are higher and are again determined by the personal agreement and conditions of the respective bank.