A Comparison of Different Visa Cards
In an attempt to minimize unnecessary interest costs on their credit, more people are now literally tearing up their credit cards and switching to Visa debit cards. The good side of using debit a debit card is the absence of carrying wads of cash in the wallet. Furthermore, the actual temptation to spend is different when using a credit card when compared to a debit card because it has a definite limit as to how much can be spent. This means that subconsciously, borrowers do not consider the funds on their debit card as “free money”.
Acquiring a debit card is relatively simple because prospective users do not need to approach a credit card provider to make an application. Debit accounts are attached to the owner’s bank account, so every time the card is used, the consumer avoids any interest costs that credit card users might incur.
Visa is the largest processor of debit cards in Australia, also having the greatest responsibility in the country because of the zero liability policy offered to card holders. The zero liability policy works by relieving the card holder of any responsibility if any fraudulent transactions occur as a result of a lost or stolen debit card.
The convenience and flexibility of debit cards also makes them very popular in Australia. Because of this, there are many companies who have offered debit cards of different types.
The ANZ Access Advantage debit card has a monthly fee of $5. No other fees are applied unless the account is overdrawn or if an overseas transaction is made. The owner has unlimited access to internet and phone banking as well as EFTPOS and cheque facilities with all ANZ ATMS’s.
The NAB Gold Banking card carries a monthly fee of $10 but the owner has premium extras attached to this account, such as international complimentary travel insurance, 90 days Purchase Protection insurance and unlimited use of non-banks ATM while overseas at no extra cost. Branch withdrawals and deposits are available in addition to NAB internet banking access and full unlimited electronic and cheque book facilities.
The Saint George Complete Freedom Account offers a debit card with unlimited branch, electronic and cheque transactions. These facilities come with a monthly fee of $5. Full access to internet and phone banking is an added benefit to the card holder.
In Australia, Visa debit cards have proven themselves to be cards which can be used widely both within Australia and further afield.