The Benefits of Using a Debit Card

Your debit card may be the unsung hero of your wallet or purse. 

You may prefer to pay for everyday items with cash because doing so limits your expenditures to what you have on hand. Or perhaps you prefer to write checks because you can log your expenditures in your checkbook ledger and always know exactly how much you’ve spent. 

Using a debit card may seem riskier because you are not limited by the cash you are carrying in your wallet or purse, and you may therefore spend more than you planned. If you use it over and over, you reason, you might not realize the damage done until you take a peek at your bank account balance.

But what if we told you that using a debit card could actually help you track your expenditures and offer you additional financial advantages? 

The benefits of using a debit card include (but are certainly not limited to) the following:

1. Expenditure Tracking. While you cannot spend more cash than you have on hand, you can absolutely forget how much you spent and where you spent it unless you are diligent about retaining receipts and logging your expenditures.

When you pay for things with a debit card, on the other hand, your expenditures appear quickly in your online bank account with or without a receipt, and without manually entering them yourself. Sticking to a budget with a debit card is easy—all you need to do is log in and see how you’re doing!

While checks offer a similar online trail when they are processed, they take longer to process than debit card transactions, and this means there is a lag between the writing of a check and its appearance online. Failure to record a transaction in your ledger, coupled with that lag, may lead you to believe you have more money than you do—and that is all you need to write a rubber check!

2. Convenience. When you pay for things with cash, there is always the possibility that you may not have enough on hand to pay for something in a pinch. Your debit card, on the other hand, is a fuss-free way to pay with money from your bank account when you need it most. A cashier only needs to scan it to use it. “Easy peasy lemon squeezy,” as the catchphrase goes. 

If you need to pay in cash but you do not have enough, you can also use your debit card to withdraw money from your bank’s ATM too. So your debit card can be used as an alternative to cash or as a means to obtain additional cash. 

3. Speedier Transactions. Paying with a debit card means no more holding up the line at the store and feeling all eyes upon you as you fumble through your pockets or purse for coins or as you write a check. 

4. Security. When your cash is misplaced or stolen, it’s gone. When your debit card is misplaced or stolen, on the other hand, you can cancel it to prevent anyone else from accessing your money. Getting a new card is a snap too. Best of all though, many banks also offer fraud protection for debit card users to prevent bad actors from harming you financially.

5. Online Shopping. When a local store is out of a favorite item, you can still get what you want with the help of your debit card. Simply hop online and place your order. With a debit card in your wallet or purse, a whole world of shopping options is at your disposal! 

At First National Bank of Sycamore, we are proud to offer our customers all the benefits that come with debit card usage. If you do not already have an FNBS MasterCard debit card, you can apply for one today. After your application is approved, you should receive your card in seven to ten days!

If you already have a debit card, but it has been lost or stolen, report it to us as soon as possible here. We understand how upsetting it can be to lose your card, and we are ready to help you take the steps necessary to protect your bank account and secure a new card. 

If you have any questions about debit cards, feel free to stop by any of our locations and talk with us. We are happy to help, and look forward to getting to know you better. As always, it is an honor to be your bank!