A bank is one of the best places to safely keep and manage your funds. Transferring money from a debit card to bank account can help you better manage your funds.
One of the many payment cards that let you purchase goods and services both offline and online is a debit card.
When you open a checking account and request one, you can obtain one. Some savings accounts also have debit cards, however they are only sometimes used.
Keep in mind that the fundamental purpose of a savings account is to store cash for later use while accruing interest.
Debit cards are among the best tools you can keep in your wallet because they may be used for a variety of purposes.
You can effectively use your card to make purchases without having to wait in line at a bank or utilizing the internet to access your bank online.
The card's only drawback is that it can only be used in urban regions since most rural areas lack access to banking services.
Debit cards and credit cards are frequently confused by people.
Despite being payment cards, the two are very different.
When using a debit card, the available balance in your checking account must be present; otherwise, the card is useless.
When you need money, you can borrow it from the company that issued your credit card and at the end of the month, you make a partial interest payment on your loan.
A bank account is where you safely keep money. In fact, keeping money in your bank account comes with lots of benefits.
Knowing how to transfer money from a debit card to bank account will help you better manage your funds.
What are the steps involved? How do you go about sending money from debit card to bank account?
Don't worry, we got you covered.
That said, this article focuses on showing you the different ways to transfer money from debit card to bank account.
Table of Contents
How to Get a Debit Card?
As long as you have a checking account, getting a debit card is simple.
Therefore, opening a checking account with your preferred bank or credit union is the first factor in getting a debit card.
To open an account with the majority of financial services providers, you typically need to have a certain opening balance.
Once more, you must the following items to open a checking account.
- Social Security Number
- Identification documents such as National Identity Card, Driver’s License, or passport.
- Phone number
- Email address, and
- Physical address
In addition to the aforementioned, your bank could ask for more items, which you must deliver right away.
When your card is prepared, you typically receive it there or pick it up from the closest branch.
Who Can Use a Debit Card?
Anyone who is capable of making a quick decision can use a debit card.
Therefore, both adults and students can use debit cards.
However, in order to obtain the cards, students under the age of 18 must have their parents or legal guardians sign as guarantors.
The majority of debit card issuers have tools you can use to control card usage by capping the amount of money your child can spend in a specific period of time.
How to Use a Debit Card
As you will soon discover, using a debit card is not difficult. Here are some ways to use a debit card.
1. Buy Goods and Services
You can use a debit card both online and offline to buy goods and services.
You need the card number, expiration date, and CVV/validation code to make an online purchase.
You can swipe or tap at the register when purchasing goods and services in a real store.
Debit cards are available that offer bonuses like cash backs, miles, and points.
If you obtain such a card, you will come to understand the worth of your money as you make use of it.
2. Send Money
You can transfer money from your card account online or at an ATM.
You only need to log into your account, see your balance, and navigate the money transfer menu if your card issuer lets you manage your card online.
You may send money to another person’s debit card or even transfer money to someone else’s credit card with a few touches on your phone or tablet.
Even money transfer applications like PayPal, Payoneer, Venmo, Cash App, and the others let you add your card and utilize it to fund transfers.
By the way, there is no fee associated with using your card on those applications.
3. Withdraw Money at an ATM
You can use a debit card to make an ATM withdrawal from your checking account.
You can use debit, credit, or prepaid debit cards to withdraw money from your account utilizing ATMs (Automatic Teller Machines).
In order to withdraw money from an ATM, you must first enter your card into the reader located directly below the screen, followed by your PIN.
The next step is to navigate to the "withdraw money" section, tap it, input the desired withdrawal amount, and then complete the withdrawal.
Alternately, you can make cash withdrawals in person at banks and credit unions that accept your card.
To show that you are the card owner, all you need to have with you is an identification document.
4. Pay Bills
You can use your card to pay electricity, water, internet, and other bills online or at a branch.
You can simply set up automatic payments so that your issuer takes the money each month and deposits it in the service provider's account, eliminating the need for manual payments.
That is possible if you pay a specific sum of money every month.
How to Transfer Money from a Debit Card to a Bank Account
You can just use your debit card to make the transfer rather than using your checking account and routing numbers to transfer money to another bank.
You can transfer funds from your debit card to a bank account in a number of ways.
Here are some of them:
1. Use Zelle
Zelle is an online money transfer service that lets you to transfer funds from one bank to another.
To fund your transfers, you can also use Visa® or Mastercard® debit cards on the platform.
If there are no technical issues, when you use Zelle to transfer money to your account, the money arrives instantly or in a matter of minutes.
2. Use a Mobile Wallet
You can add your card to your wallet account with a number of mobile wallets, including PayPal, Payoneer, Facebook Pay, Venmo, and others.
The card issuer will then provide you with the amount of money you need to transfer to a bank, and you will then actually make the transfer.
You can send money instantly or within three business days using PayPal and Venmo. Credit cards are also accepted via mobile wallets.
3. Use a Money Transfer Agent
Western Union, MoneyGram, Wise, and Remitly are just a few of the money transfer services that are active there.
Both domestically and internationally, they make money transfers easier.
You can fund a transfer to a local or foreign bank using your debit card since they allow them.
4. Use the Debit Card's Bank Account
Debit cards are usually linked to checking accounts at banks.
As a result, you can simply transfer money from a bank account using your checking account.
You can do this by logging into your bank account online, entering the account and routing numbers of the selected bank account, and making appropriate transfer.
Depending on your choices, you can use either a wire transfer or an ACH transfer. Although they take longer than wire transfers to complete, ACH transfers are secure.
Additionally, you can transfer funds via Zelle from one bank to another.
To send money with Zelle, you need the recipient's phone number or email address.
International money transfers are not supported by Zelle, though.
Are Debit Cards Secure to Use?
Because the issuers have implemented various security measures to protect your money, debit cards are safe to use.
To begin, the cards have a PIN that you can use to stop someone from taking money out of your account.
Once more, some organizations have created a two-way authentication mechanism that allows your issuer to contact you via a registered phone number when the card is inserted in an ATM slot.
If it's you, all you have to do is accept it and keep withdrawing.
Using data encryption is another method for protecting your cards.
By using this method, you can be guaranteed that no external party will be able to access your data as you interact with the issuer's servers.
Hackers won't be able to access your key info, such your PIN or passphrase, in this method.
Banks also permit you to access your account using biometric information like Touch ID and Face Unlock when using your card with an app.
Your account is more secure because no one else has biodata that is similar to yours.
Debit card issuers also make alerts and notification capabilities available so that cardholders can stay updated on account activity.
You can receive notification and take necessary measures if someone attempts to do any transaction illegally.
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A debit card lets you access funds on your checking account.
When you open a checking account, you'll get a debit card linked to it.
Banks and credit unions are the finance institutions that issue debit cards.
You can use a debit card to purchase items both online and offline.
Transferring money from a debit card to bank account is easy as there are many ways to help you do it.