Where to use Visa Debit Cards by Richard Greenwood

Visa debit offers the same cash free convenience and worldwide acceptance as a Visa credit card but is linked directly to the money in your bank account. Unlike a credit card where you can mount up debts and get a shock when your monthly bill arrives Visa debit only allows you to spend the money you actually have.

Purchases or cash withdrawals

A visa debit card has two utilities. The first is the ability to purchase goods as per choice from select retail outlets. Usually you will find a signage in the store that says that they accept Visa debit cards. The other utility is to be able to withdraw cash. There are designated ATMs or Automated Teller Machines in which you can use the card and get to withdraw cash instantly from your own savings account. However when you use your Visa debit to withdraw cash or purchase goods you are required to verify your identity by typing in your PIN (personal identification number) into the ATM or card terminal in the store.

Visa debit

This is the first type of the product suite of a visa debit card. These Visa debit cards are usually embossed and bear the acceptance mark which enables the user to use the card in millions of locations worldwide wherever the Visa logo is displayed. The hallmark of such a card is the Visa signage or the flag symbol which appears on the front right side of the card and can be below or above the hologram.

Unembossed Visa

In such a visa debit card the appearance is just like a regular Visa card. However the difference lies in several aspects. The account number of 16 digits is printed instead of being embossed on the card. The same goes for expiration date and card holder's name. The 'electronic use only' legend is located on the front of the card. There is no 'V' symbol embossed on the card. Since this is an unembossed card it cannot be used in a zip zap machine and can only be swiped at the terminal in the store.

Authorization Preferred

In such a visa debit card authorization from the user is mandatory at the terminal. Therefore usually in such a card inside the magnetic strip there is a code located which prompts the terminal to ask for authorization.

Visa Electron

The typical signage of the Visa electron represented by a flying comet provides a wide degree of utility across over 13 million locations across the globe! You can use this visa debit card at more than a million ATMs across the world. The signage is always printed on the front part of the card. The account number can be present in part or in full. If present in part the last 4 digits only will be displayed on the card. The card will also mention the expiration date of the visa debit card. In addition the 'for electronic use only' legend is present on the front. THE BIN can be found directly beneath the account number of the front side. The CVV2 number is located on the back of the card only in cases where the full account number has been used.

Article by Richard Greenwood, Director of www.click4credit.com.au which compares Visa debit cards and other financial products. Richard writes on a large variety of financial issues including debt reduction and budgeting.

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