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Frequently asked questions
What is the procedure when applying for a debit card?
If you want to get this card type, you first have to apply for an everyday transaction account. The bank card you are applying for gets directly connected to your bank account, and it utilizes the funds available in it. Bank clients today can automatically get the plastic card when they open a bank account. If you already have an everyday transaction account but do not possess the bank card yet, we recommend you to call your bank or visit their local branch to apply for one. You typically have to be at least 16 years old or older and possess a residential address in Australia because these are among the requirements.
Does this kind of bank card feature limits?
Some debit cards feature the following limitations:
A) When you shop at online stores based abroad, not all of them accept payments using the bank card.
B) Some retailers will charge you with a percentage surcharge for Mastercard and Visa debit purchases. These fees could be as high as 10 per cent of the transaction amount.
C) We recommend that you bring a credit card when you travel abroad because some hotels and other establishments will not accept the plastic cards for transactions like room security deposits.
D) You may need to make advance plans when making expensive purchases costing more than $1,000 because these bank cards feature daily limits for money withdrawals.
Do these bank cards come with charges?
Debit cards do not similarly incur interest or charges as credit cards do. However, we recommend you to learn about these fees:
A) When you utilize more cash than what is available in your bank account when buying items, you get charged with overdraft fees. These charges place your account balance into negative territory. Hence, you may need to pay a sum to your lender to make up the difference.
B) You can avoid withdrawal fees generally. But there are scenarios in which you will get charged $2 to $5 for getting cash out of an independent ATM. We suggest that you use a travel debit card if you are going abroad to avoid withdrawal charges.
C) When you pay using your plastic card instead of cash, you may get EFTPOS surcharges. These fees are typically low, and you will most frequently encounter them in restaurants and cafes.