- Know if it is a credit or a debit card. Ask the card issuer
about your options. Understand whether they are providing
you with just a debit card only for local ATM cash withdrawal, or
one which may also be used for making purchases at local
merchants, or a debit card that can even be used internationally
when you are traveling. Choose one that matches your lifestyle
and habits best.
Also, decide whether you want a debit card that works only with a personal
identification number (PIN) or one that can be used with a signature. In
different countries, they may give you different merchant coverage.
- Know
if there are fees applied to using the card. Some financial institutions
charge a monthly fee or a per-transaction fee, others do not. These fees
are set by the card issuer and will be disclosed to consumers.
- Know
about your liability for the unauthorized use, theft or loss of your debit
card. Ask if the issuer has any special liability policies and how they
work.
- Know
how problems with non-delivery, defective merchandise or misrepresentation
will be handled. This is especially important when you use a debit card
to purchase goods or services for future delivery, rather than on a "cash
and carry" basis. Ask the issuer about its policies for these types
of disputes.
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