Is it compulsory to have a debit card

[Good luck]

Debit card is a card used for making payment and also receiving payment anywhere in the country.

Debit card has really make a lot people not to have any savings at all.They keep using their card everytime buying things that are not even needed at that particular period of time.

I understand that the use of card really make business transaction fast and easy but it has really affect our savings culture,making people to spend extra ordinarily
We have different types of Debit card,they are Visa card,Verve and Master card.

My question is that Is it really compulsory for one to have a debit card.

I will appreciate your opinion on this subject.waiting to hear from you.

 

[Mika]

Between credit card and debit card, I prefer to use debit card because when you use debit card, you use your own money, therefore, you control your spending. However when you use credit card, you use bank's money and you interpret as free money, thus, you can hardly control your spending.

 

[Deleted member 28127]

For some cases it is compulsory, so for example for local debit card it could be essential to pay your bills without wait a long time to pay it at the office that issue this bill. For internet, sometimes we need international debit card for issue upgrades and benefit from some services or even pay for hosting and advertisements.

 

[Jasmine]

It is good to use a debit card instead of carrying stack of money. When you have a card, it will be easier to make purchase. However, a better option is to use banking app and use your banking account to send funds or make payment. You can easily handle your finances from your phone.

 

[Good-Guy]

In my country, it is not at all compulsory to have a debit card, but you must always have cash in hand in order to pay. Debit card machines do not work all the time in many places and you may get stranded at places if you solely rely on debit or credit cards.

 

[btaliat]

Cards whether debit or credit doesn't determine how you spend your money, you decide that yourself. I have almost 5 debit cards from different banks and I still make sure I spend prudently. I have a key for that.

Sometimes, I put all what I will need in each account and each account has its purpose. There is one that I use for foodstuff and the moment the money finishes, it means I don't need foodstuff again for that month. Another is for upkeep and some are for miscellaneous.

Most time, I don't keep card for the account I have much money in because I may be tempted to buy some irrelevant things. Rather I move my money to maybe my crypto wallet and even invest more if it and then save the remaining for some unexpected situations.

So we don't need to blame our reckless spending on our card but if truly we can't handle card, there is nothing stopping us from using it as it is not compulsory at all.

 

[moonchild]

It's not compulsory to have a debit card because debit card is a product of the bank and you are the only one that can make the choice whether to have one or not.

Debit card is necessary in my country because sometimes you might be pressed and you need money to sort yourself out, without a debit card you have to go all the way to the bank and use a withdrawal slip but with a card you will just have to go to a nearby POS shop and make your withdrawal stress free

 

[Caramelle]

Getting a debit card is not compulsory but most banks in my country no longer offer plain ATM cards for savings accounts and are issuing debit cards instead. Debit cards are supposed to be more flexible than regular ATM cards. They can be used for international transactions and purchases abroad. If your employer is paying your salary through electronic means, chances are you will be required to get a debit card from your company's bank to facilitate the payment of your salary. In this day and age, manual payroll processing is rare and inefficient. I don't think it will encourage overspending or unnecessary spending. It's all a matter of fund management. Some people simply withdraw their entire salary and allocate the funds based on their budget. Some keep multiple savings accounts and execute online transfers during paydays to those accounts.​

 

[eldavis]

Having a debit card is mainly by choice, I have an account I mainly use for savings, it's been months now and the account has been functioning without a debit card. I can still easily make various online transactions with ease. Not using a debit card has also saved me form most of the unnecessary charges attached with owning a debit card.