Stepwise guide on how to pay online with debit cards
The debit card is undoubtedly the best invention of the banking industry. It is akin to having your bank account in your wallet. With debit cards, you can make all sorts of payments and financial transactions, from shopping to investments and loading digital wallets. While you can use the debit card to pay for shopping at retail stores and withdrawing cash at ATMs, you can also make online payments. Learn how to pay online with debit cards in this article.
Banks provide debit cards when you open an account. This card, sometimes known as an ATM card, is a type of prepaid card that comprises the same amount of balance you have in your correspondent bank account. The way how debit card works is simple. When you pay for something using your debit card, funds are automatically debited from your bank account linked to the card, making it a real-time payment. Whether you use the debit card at ATMs for withdrawing money, swipe it at retail outlets, or make online payments, the bank immediately debits that amount from your account. The bank sends you an SMS alert confirming the transaction along and your account balance post the transaction.
You can make all sorts of payments using your debit card online. Follow these simple steps mentioned below.
Your online payment will be completed once you authenticate the payment, and you will receive an SMS alert confirming your revised account balance.
Now that you know how to pay online with debit card, you can make all sorts of payments. Financial institutions in India typically provide Visa, MasterCard, and RuPay debit cards. You can use your debit card to spend money from your bank account without having to carry cash.
Happy shopping with the DBS Bank debit card! Download the app to open your digital savings account instantly and get your debit card!
*Disclaimer: This article is for information only. We recommend you get in touch with your income tax advisor or CA for expert advice.