Debit cards

Why you need a debit card for your own funds. A debit card is a tool for storing and everyday operations with your own money. It allows you to receive salary, pension or transfers from other people and to quickly pay for purchases in stores and online. A card also provides quick access to money via ATMs and mobile banking. At the same time, service conditions and available services differ between institutions, so you should check them in the bank’s current fee schedules. Fees for issuance and maintenance. The main costs related to a card are the issuance fee and a monthly or annual maintenance fee. Some banks do not charge a fee if certain conditions are met, for example maintaining a minimum balance or having regular incoming payments, but such rules vary. When comparing offers, pay attention to additional services included in the fee, for example insurance, cashback or loyalty programmes. Remember that terms differ between banks and may change — check them in the bank’s current fee schedules. What to consider when analysing. Evaluate not only the amount of the fee but also its frequency and the conditions for waiver. Some tariffs have a one-off charge while others are recurring; this affects the annual cost of use. Free withdrawal limits and ATM fees. Free withdrawal limits specify how much you can withdraw, either as a percentage or as an amount, without a fee. This is an important parameter if you often use cash or travel around the country where there are few ATMs of your bank. Pay attention to conditions for withdrawals in other banks’ networks and abroad. Some cards allow several free withdrawals per month and then charge a fixed or percentage fee. Fees for transfers to cards of other banks. Transfers to cards of other banks may have a fixed or percentage commission. It is important to read the tariffs to understand whether it is more economical to send money via the bank’s mobile app or to use other services. Also check limits on single and daily transfers — this will help you plan large payments and avoid extra costs. Terms differ between banks and may change — check them in the bank’s current fee schedules. Calculation example. Example terms are not a recommendation; this is an illustrative calculation. Imagine that the commission is 1 percent and a minimum of 10 units — when transferring 1000 units the commission will be 10 units; this is an example for comparison. Interest on balance and cashback. Some cards have a programme to pay interest on the balance or cashback for spending. Such bonuses can partially offset the maintenance fee, but their terms and interest rates depend on the specific tariff. Pay attention to minimum requirements to receive benefits, for example monthly incoming payments or maintaining a certain balance. Do not invent figures yourself — check the exact terms in the bank’s current fee schedules. Currency and multi-currency cards for receiving money from abroad. If you receive funds from abroad, consider a currency or multi-currency card. They reduce the need for exchanges and allow you to hold money in the payment currency, but conversion fees and internal charges may vary. When choosing, pay attention to fees for incoming transfers, limits on foreign currency operations and rules of automatic conversion. It is also worth considering the possibility of withdrawing foreign-currency cash at ATMs and the related costs. Check all terms in the bank’s current fee schedules. Compare the total annual cost of a card, not only individual items. Do not trust a single figure — compare examples with real amounts.