Debit Cards

Be it making online or offline payments or withdrawing funds from ATMs, life has never been easier than it is with a Debit Card. But while Debit Cards are now an indispensable part of our financial life, do you know when they came into existence?

Let's go through a brief history of Debit Cards:

The Bank of Delaware in the US was the first to launch a pilot project involving Debit Cards in 1966. By the 1970s, many other banks started working on similar ideas. And by the 1980s-1990s, with the rising popularity of ATMs, Debit Card users grew exponentially.

In India, the first ATM was introduced in 1987. While it took some time for Indians to switch from cash to card-based payments, Debit Cards have now become an essential part of our everyday life. According to recent reports, there are now more than 1 billion Debit Cards in India. A decade ago, the number was below 100 million.

A Debit Card is a rectangular piece of plastic that provides easy access to cash. So, every time you open a Savings Account with any bank, you are allotted a Debit Card or an ATM Card through which you can easily withdraw money from an ATM, transact online or offline for all your shopping needs.

For instance, if you open AU Savings Account with AU Small Finance Bank, you automatically become eligible for a Debit Card. Your card will depend on the type of bank account you choose. Each Debit Card has a unique 16-digit number and a 3-digit CVV (Card Verification Value) number. Withdrawals and transactions are approved once you enter a Debit Card PIN.

Read More: - What is a Debit Card? 

Now that you know the basics of a Debit Card, let's look at how Debit Cards work. Every Debit Card is linked to a bank account. Through the Debit Card, you can use the balance available in the account for payments and cash withdrawals. Anytime you make a payment or withdraw money through your Debit Card, the funds are deducted from the linked account.

So, how to use a Debit Card?

• For offline payments, customers generally insert their Debit Card at a POS (Point-of-Sale) Terminal and enter their PIN to complete the transaction. 
• If you make an online payment with your Debit Card, you must enter your card details. An OTP is generated and sent to your registered mobile number to confirm the online transaction. 
• To withdraw cash, you can visit an ATM and insert your Debit Card into the ATM. Then, follow the instructions on the screen and enter your Debit Card PIN to withdraw funds.  
• For transactions below INR 5,000, customers have an option to carry out contactless transactions (Tap & Pay) on their Debit Card.

Now that you know the basics of Debit Cards let's check out some of the most common types of Debit Cards available in India-

• Visa Debit Cards
• MasterCard Debit Cards
• Rupay Debit Cards

At AU Small Finance Bank, we offer different types of Debit Cards, such as –

• Royale Debit Card (VISA Signature)
• Royale Business Debit Card (VISA Signature Business)
• VISA Platinum Debit Card
• VISA Platinum Business Debit Card
• VISA Gold Debit Card
• VISA Gold Business Debit Card
• Rupay Platinum Debit Card
• Rupay Classic Debit Card

• You can easily obtain a Debit Card by opening a bank account
• Ability to avail cash anytime from an ATM
• Enjoy contactless transactions up to INR 5,000 for a seamless transaction experience
• Transfer funds anytime, anywhere
• No interest or service charges, unlike Credit Cards
• Better control over spending, which means you cannot get into debt
• Transactions are fast, easy, and convenient
• Cards are secured with a unique card number, CVV, and PIN

Do you already have a bank account with us & looking to apply for a Debit Card? You can avail the same from your nearest AU Small Finance Bank Branch, website or contact our customer care number at 1800 1200 1200.