VIVEK COLLEGE OF COMMERCE

CHAPTER 1:
INTRODUCTION
DEFINITION:An electronic card issued by a bank which allows bank clients access to their
account to withdraw cash or pay for goods and services. This removes the
need for bank clients to go to the bank to remove cash from their account as
they can now just go to an ATM or pay electronically at merchant locations.
This type of card, as a form of payment, also removes the need for checks as
the Debit card immediately transfers money from the client's account to the
business account.
In many countries, the use of Debit cards has become so widespread
that their volume has overtaken or entirely replaced cheques and, in
some instances, cash transactions. The development of debit cards,
unlike credit cards and charge cards, has generally been country
specific resulting in a number of different systems around the world,
which were often incompatible. Since the mid-2000s, a number of
initiatives have allowed debit cards issued in one country to be used in
other countries and allowed their use for internet and phone purchases.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

FUNCTIONS:A Debit card links directly to a person's bank account. Instead of

writing a check or using cash, you can hand your card to a cashier or
swipe it yourself to deduct the total amount of a transaction from your
account. Sometimes, you'll sign after the transaction as you would when
using a credit card. Other times, you'll need to enter a personal
identification number or PIN. Since most Debit card are branded by the
major credit card companies, you can use your card anywhere you'd
ordinarily use a credit card. You can also use a Debit card at an ATM to
access cash. You'll need to input your PIN to get money from an ATM.
You can also use the card to get cash during an in-store transaction in
many cases. If you wish to get cash back at the store, choose debit and put
in your PIN instead of credit.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

BENEFITS AND ITS LIMITATION:The major benefits to this type of card are convenience and security.
Debit card have some advantages over checks or credit cards. Using
Debit card in a store is a lot quicker than writing out a check. The store
also does not have to worry about your check bouncing and doesn't need
to obtain as much information as they would if you used a check. Many
stores don't take checks any longer due to the high risk. If you use a Debit
card

wisely, you can avoid getting over your head with debt, which is a

possibility if you charge everything to a credit card.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

LIMITATION:
On the flip side, here are the limitation of using a debit card over other payment
methods:

1. Disputed charges can be more difficult to resolve. Since money

was spent out of your account at the moment of purchase, you have more risk
with a debit card than with a credit card if the item is defective, misrepresented,
or never gets delivered to you.

2. Some banks may charge you extra fees. There could be monthly
service charges, over-limit fees, per transaction costs, or penalties for dropping
below a minimum required balance that result from using a debit card.

3. You don't improve your credit score. Building up your credit score is
an important consideration for your financial future. Paying bills, such as credit
card payments, on time is the most effective way to increase your rating or to
maintain a high credit score.

4. You can't take advantage of reward points. One of my favourite

reasons for using a credit card when making any large purchase is the
opportunity to get travel reward points. There are many different types of cards
that offer a variety of great incentives, and I have an entire episode devoted to
rewards credit cards to prove it.

5. It gives you lower levels of fraud protection. If a thief gets your Personal
Identification Number, they could easily empty your bank account. Fraud
certainly happens with credit card use as well. However, most credit card
companies put a hold an any account that shows unusual activity.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

6. And lastly, your potential liability for misuse is unlimited. This

contrasts the low risk that comes from misuse or theft of a credit card.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

CHAPTER 2:
PROCEDURE TO OBTAIN A DEBIT CARD
In today's society, cash is becoming more obsolete, often being replaced by
debit cards. A debit card allows access to a source of funding that is linked to the
card. This funding source is typically a checking account, savings account or a
pre-paid balance. Users may utilize debit cards to make purchases in stores, over
the telephone and online, which provides more convenience than simply using
cash or checks. Use these tips to learn how to get a debit card.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

STEPS:1:- Ask your bank for a debit card that can be linked to your
checking or savings account. If you have an existing account with your
bank, it is usually only a matter of completing paperwork to acquire your own
debit card. Since you have already established your identity with the bank, the
only paperwork that may be required is an official application for a card. The
bank will review your application and, depending on your history with the bank,
approve your account for a debit card. The bank will mail you a card with
information about your pin number. Your pin number may be temporary or
permanent, depending on your bank. After receiving your card, activate it by
following the instructions mailed with the card.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

2:- Open a new checking account and apply for a debit card. If you
don't already have an existing checking or savings account, visit a local bank
and open one. Many banks provide an opportunity to apply for accounts online.
Fill out all applications and paperwork, and request a debit card with your new
account. After researching your credit history, the bank will either approve or
deny your request.

DEBIT CARD

VIVEK COLLEGE OF COMMERCE

3:- Purchase a pre-paid, loadable debit card at a convenience

store, discount store or pharmacy. Many locations sell Visa or
MasterCard debit cards. These cards work much like the debit cards attached to
other accounts, except that you load them with a balance that is only accessible
with the card. One caveat to these pre-paid debit cards is that they typically
require an activation fee when you put money into the account the first time.
However, the activation charge is a one-time fee and will not occur again while
you are using the card.

DEBIT CARD

10

VIVEK COLLEGE OF COMMERCE

CHAPTER 3:
HOW TO USE A DEBIT CARD
Nowadays, more and more people are using debit cards as a mode of payment.
A reason for this is the convenience and speed of payment that it offers. Similar
in look to a credit card, a debit card differs in that it is linked directly to a fund
source such as a savings or a checking account. When the debit card is used, the
payment is automatically deducted from the fund, alleviating possible major
debts, as can be the case with a credit card. However, caution and discipline
should still be maintained in ensuring that all debit card purchases are tracked,
and that any purchases made fall within the limits of the amount of cash in the
fund source.

STEPS:1:- Activate the debit card with the bank where you obtained it
from. Upon receipt of the debit card from your bank, make sure to activate it
to make it ready for use. This can normally be done by contacting the number of
the banks assistance center listed on the back of the debit card.

DEBIT CARD

11

VIVEK COLLEGE OF COMMERCE

2:- Make sure that you have enough cash in the account linked to
the debit card to fund for your purchases. Whereas you can use a
credit card to make purchases even if you do not have enough funds in your
account at the moment, for a debit card, you can typically only make as much
purchases as the amount of funds you have in your account. In some cases, you
can make purchases higher than the amount left in your account, but these
would result in overdraw fees. Check that the funds in your account is not below
the amount that you intend to spend, in order to maximize the use of the debit
card.

3:-Know the PIN number of your debit card. A debit card would
usually come with a four-digit PIN (personal identification number), which you
can change to another number that you can easily remember. Make sure that you
have memorized your PIN, and that you do not disclose it to anyone. As much
as possible, avoid writing down your PIN. If you must write it, keep the written
PIN in a separate place from your debit card. Try to choose a number
combination as well which will not be very easy to guess, should other people
come in possession of your debit card.

DEBIT CARD

12

VIVEK COLLEGE OF COMMERCE

4:- Hand your debit card to the cashier of the store where you are
making a purchase. The cashier will swipe the debit card through the card
reading machine. The card reader will then present an option whether to pay
through debit or credit. Even if you are using a debit card, you can still opt to
pay through a credit method.
Debit: Verify that the amount of purchase entered in the card reader is
correct. The card reader will then prompt you to enter your PIN. If you
choose the debit option, you can normally opt for cash back as well.
Instead of having to go to the ATM to get extra cash, cash back allows
you to obtain the cash along with your purchase. The cash will be
deducted from your account as well.
Credit: Verify that the amount of purchase entered in the card reader is
correct. Instead of having to input a PIN, you will be asked to sign the
receipt, but the purchase amount will still be automatically deducted from
your account.

DEBIT CARD

13

VIVEK COLLEGE OF COMMERCE

5:-Check that your transaction has been approved. A notice will be

sent in the card reader indicating if your transaction has been approved. If it has
not been approved, it is likely that you do not have sufficient funds in your
account to make the purchase.

6:- Keep track of the purchases that you make with your debit
card. It is always a good idea to log the expenses you pay with your debit card,
to keep your spending patterns in check. Even if you would not incur debts as
you might have with a credit card, forgetting to keep track of your debit card
purchases might lead you to spend more than what you intended to, and leave
you with less funds than you expected in your account.

DEBIT CARD

14

VIVEK COLLEGE OF COMMERCE

CHAPTER 4:
TYPES OF DEBIT CARDS
1. PIN-only cards: PIN-only debit cards are linked to your bank account and
can be used for cash transactions and fund transfer, buy from retailers and pay
bills online or by phone. The card holder is required to enter a secure PIN for
every transaction to establish identity and maintain security.

2. Dual-use cards: Dual-use debit cards are both signature- and PIN-enabled,
and tied directly to your bank account. You can verify your identity either by
signing or entering your PIN.

3. EBT cards: Electronic Benefits Transfer (EBT) cards debit cards provided
by a state or federal government agency to users who qualify for food stamps,
cash payments, or other benefits. EBT cards can be used to make purchases at
participating retailers or to withdraw cash from an ATM, depending on the type
of program.

4. Prepaid cards: Prepaid cards are not linked to a specific account, but
provide access to funds deposited directly on the card by you or a third party. In
effect, they work as a store-credit or gift card.

DEBIT CARD

15

VIVEK COLLEGE OF COMMERCE

DEBIT CARD OF A NATIONALISED BANK

Debit cards are accepted globally and offer the convenience of anytime
banking to the customers. It has been decided to levy Annual
Maintenance Charges on the Debit Cards
Different charges are made to issue duplicate pins and new debit card
Maximum of 3 accounts held in the same name and same capacity can be
linked to a Debit card.

DEBIT CARD

16

VIVEK COLLEGE OF COMMERCE

DEBIT CARD OF A COMMERCIAL BANK

Debit Cards are linked to Savings and Current Accounts that are owned
by the customer. They ensure instant cash withdrawal and can be used in
any domestic ATM or any international ATM with a MasterCard or Cirrus
logo.
The Commercial Bank Master and Visa Shopping Debit Card is the
easiest most convenient way to purchase goods and services from any
outlet.
Debit Cards can be used for accessing current and savings accounts of
customers through the ATMs as well as for purchase of goods and
services
Transactions will be directly debited to the customer account, and
cardholders can regularly monitor the card balance at any ATM or online.

DEBIT CARD

17

VIVEK COLLEGE OF COMMERCE

DEBIT CARD OF A CO-OPERATIVE BANK

Your Co-operative Bank Visa debit card is the simple, safe and sensible way to
pay for your everyday goods and services at home and abroad, online or on
the high street. Its the only card you need, making your life easier when you
need to pay for essentials such as:

your weekly grocery shop

petrol, train or plane tickets
clothes or shopping trips
Meals out or cinema and concert tickets.

DEBIT CARD

18

VIVEK COLLEGE OF COMMERCE

CHAPTER 5:
THE PARTS OF A DEBIT CARD
Learn the different areas on the front and back of a debit card.

The front of a debit card includes:

The debit card number
The issue date
The expiration date
A Visa or MasterCard logo

Debit card number

this 16-digit number is unique to your card. It is different from your
checking account number.

Issue date
this is the date your debit card was issued.
DEBIT CARD

19

VIVEK COLLEGE OF COMMERCE

Expiration date
your card can only be used until this date. A new card will be
automatically sent to your address prior to the expiration date.

Visa or MasterCard logo

This symbol means that you can use this card wherever Visa or
MasterCard debit cards are accepted, for example, department stores,
restaurants, and online.

DEBIT CARD

20

VIVEK COLLEGE OF COMMERCE

The back of a debit card includes:

The customer service number
The signature bar
The card verification value
The network logos

Customer service number

Call this toll-free number when you questions about your account.

Signature bar
For your protection against fraud, be sure to sign here as soon as you receive
your card.

Card Verification Value (CVV)

This number is unique to your card. When you use your card to make purchases
over the phone or Internet, some merchants may require you to supply this
number to confirm that you have the card with you.

DEBIT CARD

21

VIVEK COLLEGE OF COMMERCE

Network logos
the logos that appear on your card indicate where it can be used. You can:
Access any ATM that carries the same logos as your card.
Make PIN-based purchases at merchants that display the same Point-ofSale network.
Make signature-based purchases at merchants that accept Visa or
MasterCard debit cards.

DEBIT CARD

22

VIVEK COLLEGE OF COMMERCE

CHAPTER 6:
DEBIT CARD FRAUD
Debit card fraud occurs when a criminal gains access to your debit card
number and, in some cases, PIN, to make unauthorized purchases and/or
withdraw cash from your account. There are many different methods of
obtaining your information, from unscrupulous employees to hackers
gaining access your data from a retailer's unsecure computer.
When your debit card is used fraudulently, the money is missing from
your account instantly. Payments you've scheduled or checks you've
mailed may bounce; you may not be able to afford necessities, and it can
take a while for the fraud to be cleared up and the money restored to your
account.

How to Detect Debit Card Fraud

Fortunately, it doesn't take any special skills to detect debit card fraud.
The easiest way to spot problems early is to sign up for online banking, if
you haven't already. Check your balance and recent transactions daily.
The sooner you detect fraud, the easier it will be to limit its impact on
your finances and your life. If you see unfamiliar transactions, call the
bank right away. If you're the forgetful type, start hanging on to the
receipts from your debit card transactions so you can compare these
against your online transactions.
If you don't want to bank online, you can keep tabs on your recent
transactions via phone banking. In the very least, you should review your
monthly bank statement as soon as you receive them, and check your
account balance whenever you visit an ATM or bank teller. However, it
can take much longer to detect fraud using these methods.

DEBIT CARD

23

VIVEK COLLEGE OF COMMERCE

9 Easy Ways toProtect Yourself

While you may not have any control over hackers and other thieves, there are
many things you can control that will help you avoid becoming a victim.

Get banking alerts

In addition to checking your balance and recent transactions online daily, you
can sign up for banking alerts. Your bank will then contact you by email or text
message when certain activity occurs on your account, such as a withdrawal
exceeding an amount you specify or a change of address.

Go paperless
Signing up for paperless bank statements will eliminate the possibility of having
bank account information stolen from your mailbox. Shredding existing bank
statements and debit card receipts using a diamond-cut shredder when you're
done with them will greatly reduce the possibility of having bank account
information stolen from your trash.

Don't make purchases with your debit card

Use a credit card instead, because it offers greater protection against fraud.

Stick to bank ATMs

they tend to have better security (video cameras) than ATMs at convenience
stores, restaurants and other places.

Destroy old debit cards

some shredders will take care of this for you.

Don't keep all your money in one place

If your checking account is compromised, you want to be able to access cash
from another source to pay for necessities and meet you financial obligations.

DEBIT CARD

24

VIVEK COLLEGE OF COMMERCE

Beware of phishing scams

when checking your email or doing business online, make sure you know who
you're interacting with.

Protect your computer

Use firewall, anti-virus and anti-spyware software on your computer, and keep it
updated regularly.

Use a secured network

Don't do financial transactions online, when using your computer in a public
place and/or over an unsecured network

What to Do if it Happens to You

If you learn that your debit card information has been compromised, contact
your bank immediately to limit the damage the thief can do, and limit your
financial responsibility for the fraud. Make contact immediately by phone, and
follow up with a detailed letter stating the full name of the bank employee you
spoke with, details of the fraudulent transactions, and any ideas you have about
how your account may have been compromised. Ask your bank to waive any
NSF fees that may be incurred because of the fraud, and to restore the
fraudulently withdrawn funds to your account.
Hopefully, you won't have any trouble resolving the issue directly with your
bank, but if you do, you can contact a legitimate consumer advocacy group such
as Privacy Rights Clearinghouse. There are also government organizations to
contact if your bank isn't cooperating. The agency to contact depends on the
type of bank you use.
If you will have trouble making any of your monthly payments because of the
fraud, contact those creditors, explain the situation and ask if they can do

DEBIT CARD

25

VIVEK COLLEGE OF COMMERCE

anything for you. This step is extremely important, as failure to do so implies

your unwillingness to pay them. However, if they know about your hardship,
they may be willing to work with you to reschedule payments.

Conclusion
Anything you can do to make a thief's work more difficult, whether it's staying
on top of your balance, spreading your cash out across multiple accounts or
making purchases with credit cards instead of debit, will help safeguard your
checking account and decrease your chances of becoming a victim of debit
card fraud.

CHAPTER 7:
DEBIT CARD

26

VIVEK COLLEGE OF COMMERCE

Article from The Indian Express highlighting the rise in

debit/credit card scams(January14, 2014)
Chandigarh Police cyber-crime cell received many complaints about credit and
debit cards of the city residents being cloned and used by miscreants for
shopping at malls in Delhi, Gurgaon and other states in the year 2013.
The cyber cell received 1,166 complaints in 2013 and 170 in 2012. Of all, 351
complaints were pertaining to credit and debit card frauds.
Most of these complaints pertained to card cloning and many complainants
claimed that they had made their last transaction at a fuel station. Cybercrime
cell officers claim that after the arrest of MukulGarg and RamandeepKaur, who
were allegedly involved in cloning of credit and debit cards, there was a sudden
spurt in complaints of card cloning. But, after that, police did not receive any
such complaint. Deputy Superintendent of Police cybercrime cell Rajesh Kalia
said, Till about two months after the arrest of the duo, we received complaints
on card cloning. The complaints were mostly of incidents which had taken place
a few months back. We have not received any complaint of cloning after the
arrest of the two accused.
Of the 351 complaints which were received by the cybercrime cell, three
hundred complaints were disposed of. According to the data provided by the
cybercrime cell, a First Information Report (FIR) was registered only in five
cases. When asked the reason behind the same, DSP Kalia said, On verification
of complaints, sometimes the complainant was not ready to pursue the case, the
concerned bank is not cooperative or the addresses provided in the complaints
are fake.
The DSP said, most of the complaints which the cyber cell is receiving these
days involves credit or debit card fraud where the complainant had disclosed
DEBIT CARD

27

VIVEK COLLEGE OF COMMERCE

their account details on internet. Lately, most of the complaints which we

receive are from those who had shopped online due to which their account
details got hacked, he said.
Moreover, the cyber cell has also received 131 complaints of online cheating.
Out of these 116 complaints were disposed off and 15 complaints are still under
investigation. Online cheating involves complaints of those who responded to a
pop-up ad and revealed their card details. These also involves the mails which
claim that you e-mail address was chosen as the winner of some cash prize.
Also, 10 complaints of job and lottery scam each were reported. While all the
complaints of lottery scam were disposed off , four complaints of job scam are
pending investigation.

Article from HT Mint (October 02, 2013)

DEBIT CARD

28

VIVEK COLLEGE OF COMMERCE

Banks can be penalized for credit or debit card fraud

On 27 September, the Reserve Bank of India (RBI) issued a notification stating
that it will not give any further extension to comply with the task to secure the
technology infrastructure for any debit or credit card transaction. Lets
understand what it means for the bank and you.

No more extension
In order to contain frauds in payment systems, RBI had said that there is a need
to secure card-based transactions to protect the interest of card holders. RBI
constituted a working group in March 2011 to examine and recommend an
action plan which will fool proof the ecosystem. The group recommended
measures to secure the technology infrastructure, improve fraud risk
management practices and strengthen merchant sourcing process. RBI had set a
deadline for this purpose. However, various banks approached the banking
regulator seeking extension of the 30September deadline. But RBI decided not
to give any further extension.

What does it mean for banks?

DEBIT CARD

29

VIVEK COLLEGE OF COMMERCE

Banks that do not comply with the security requirements will have to
compensate losses incurred by any card holder using debit or credit card at any
point of sale (PoS) terminal. So for instance, if you swipe your card at a shop
and any fraudulent activity takes place, then your bank will have to pay for it.
RBI has also set a timeline for banks to pay for any fraudulent activity. RBI has
mandated banks to find out within three working days from the date of
complaint whether the PoS terminal where the transaction was done is
compliant with the prescribed security mandate. If it is found that the PoS
terminal is non-compliant, the issuing bank will have to pay the disputed
amount to the customer within seven working days. If the bank fails to pay the
money that was compromised within seven working days, it will have to pay
Rs.100 per day to the customer from the eighth working day. RBI further says
that the issuing bank shall claim the amount paid by it to the customer from the
respective bank which has acquired the PoS transaction in question. The
acquiring bank has to pay the amount paid by the issuing bank without demur
within three working days of the issuing bank raising the claim.

What does it mean for you?

There has been an increase in the number of fraudulent activities on debit and
credit card transactions. And there have been instances where banks have
refused to even register a complaint in case of any credit and debit card fraud.
This circular should put to rest the confusion on who will take the blame in case
of a dispute. You also need to be prudent to register complaint as soon as you
realize that a fraudulent activity has happened.

ATRICLE FROM :- BUSINESS LINE (SEPTEMBER 8,2014)

DEBIT CARD

30

VIVEK COLLEGE OF COMMERCE

SBI launches multi-currency international card

Mumbai:
State Bank of India (SBI) in tie-up with MasterCard on Monday launched its
first multi-currency international card to allow consumers to use a single card to
pay in multiple currencies.
To begin with, the prepaid card will enable customers to load four currencies
US dollar, euro, Great Britain pound and Singapore dollar. More currencies will
be added going forward as the card has the facility to be loaded up to 12
currencies, S K Mishra, Deputy Managing Director, SBI, said.
Mishra added that outbound travel from India is growing with 35 million people
travelling outside India. This is expected to grow to 50 million in 2020.
Consumers expect smart products to address their travel needs. The multicurrency foreign travel card gives an option to load currencies of choice at SBIs
branch network, he said.
At present, the card can be issued at an annual fee of Rs. 100 without any
interchange fee to customers. Customers will have to pay the traditional ATM
withdrawal charges of $1.75 in the US, 1.5 in Europe, 1.25 in Britain and S$2
in Singapore.
The card is aimed at corporates and professionals, tourists and students
travelling abroad and will be available at 100 SBI branches in four major cities.
The chip and pin security card also has additional features of a call centre and
complimentary emergency assistance and is backed by MasterCards network of
nearly 36 million merchant establishments and 1.9 million ATMs globally.

CHAPTER 8:

DEBIT CARD

31

VIVEK COLLEGE OF COMMERCE

SURVEY AND Its FINDINGS

METHOD OF DATA COLLECTION:-There are 4 methods For
collecting primary data.

Interview method

Questionnaire method **

Schedule method

For

carrying

out

this

study

I will

use

questionnaire

as a

method of data collection.

DEBIT CARD

32

VIVEK COLLEGE OF COMMERCE

ANNEXURE I

1
2
3
4

NAME:
AGE:
GENDER: a)Male b)Female
Do you have bank account?
A
Yes B) No
5 In which bank you have an account?
a)Nationalised b)private
c)foreign
d)co-operative
6. What type of debit card you hold?
a)Payment card
b)ATM card
7. What would you prefer to carry?
a) cash b)Debit card
8. Which card would you prefer?
a) credit card
b)debit card
9. Do you use your debit card for online purchase?
a) yes b)no
10. How frequently do you use your debit card?
A) daily b)weekly
c)monthly
11. Are you satisfied with the services provided by your bank?
a) yes
b)no
12. As you know there are many news of SWALLOW THE CARD are you
more careful?
a) yes
b)no

13. What kind of problems you face while using your debit card?
..
..
..
..
14. Would you like to give any suggestions or recommendation?
..
..
..

DEBIT CARD

33

VIVEK COLLEGE OF COMMERCE

Signature:

DEBIT CARD

34

VIVEK COLLEGE OF COMMERCE

ANALYISIS OF SURVEY
I have conducted the survey among 20 people on debit card among
which 14 were males and 6 females. I have segregated the people surveyed in to
4 groups

AGE

MALE

FEMALE

TOTAL

20-30

31-40

41-50
Above 50

1
2

0
1

1
3

7
6
5
4
MALE
3

FEMALE

2
1
0
20-30

31-40

41-50

Above 50

IN WHICH BANK YOU HAVE AN ACCOUNT?

DEBIT CARD

35

VIVEK COLLEGE OF COMMERCE

Type of

Male

Female

Total

Banks
Nationalized

10

Private

Foreign

Co-operative

7
6
5
4
Male

Female

2
1
0
banks

Nationalized

Private

Foreign

Co-operative

According to the survey, ten people have nationalized bank account among
them six are males and four are females. Eight people have their account in
private banks, among which six are males and two are females. And only two
of them have their bank account in a foreign bank both are females.

DEBIT CARD

36

VIVEK COLLEGE OF COMMERCE

What type of debit card you hold?

Types

Male

Female

Total

Payment card

Debit card

14

18

16
14
12
10
Payment card

Debit card
6
4
2
0
Male

Female

According to the survey, two people prefer payment card one male and female.
And eighteen people prefer debit card among which fourteen are males and
four are females.

DEBIT CARD

37

VIVEK COLLEGE OF COMMERCE

What would you prefer to carry?

Types

Male

Female

Total

Cash

Debit card

10

11

Both

12

10

Male

Female

0
Cash

Debit card

Both

According to the survey, 11 people have selected to carry a debit card among
them ten are males and one is a female. Seven people preferred to carry cash with
them among which four are males and three are females. One male and female
have selected to carry both cash as well as debit card with them.

DEBIT CARD

38

VIVEK COLLEGE OF COMMERCE

Which card would you prefer?

Types of card Male

Female

Total

Debit

10

13

Credit

None

12

10

Male

Female
4

0
Debit

Credit

None

According to the survey, thirteen people have selected debit card. Among them,
ten are males and three are females. Five of them selected credit card as their
option among which two are males and three are females. And two people have
selected both credit and debit cards.

DEBIT CARD

39

VIVEK COLLEGE OF COMMERCE

Do you use debit card for online purchase?

Types

Male

Female

Total

Yes

10

13

No

12

10

Yes

No
4

0
Male

Female

According to the survey, thirteen people use their debit card for online
purchases. They are ten males and three females. And seven people among
them do not use their debit card for online purchase among which three are
males and four are females.

DEBIT CARD

40

VIVEK COLLEGE OF COMMERCE

How frequently do you use your debit card?

Time

Male

Female

Total

Daily

Weekly

Monthly

8
7
6
5
Male

Female
3
2
1
0
Daily

Weekly

Monthly

According to the survey, seven people carry daily transaction with their debit
card among which four are males and three are females. Eight of them use their
debit card weekly - seven males and a female. And five of them do monthly
transaction - two males and three females.

DEBIT CARD

41

VIVEK COLLEGE OF COMMERCE

CHAPTER 9:
CONCLUSION
The benefits of using a debit card are numerous. If you are in debt or trying
to save money, then you need to strongly consider one. Even if you are not in
debt or struggling to save money, a debit card could be very helpful. A debit
card is basically an all-around safer version of a credit card.
According to the survey conducted, we have seen that number of people prefer
debit card over credit card as it is less risky. And most of them choose
nationalised banks to open their savings account as it helps them to be secure
from bankruptcy. It was found that people find it easy and safe to carry debit
card with them instead of cash which decreases the risk of theft.
Due to the increase in online shopping, people find it difficult to make
their payment through debit card for online purchases. For reasons like no
transparency of their account information and anyone can access their bank
account.

WEBLIOGRAPHY

WEBSITES:DEBIT CARD

42

VIVEK COLLEGE OF COMMERCE

www.google.com
www.wikipedia.com
www.investopedia.com
www.sbi.com
www.citibank.com
www.commercialbank.com

ANNEXURE I

1. NAME:
2. AGE:
3. GENDER: a)Male b)Female
DEBIT CARD

43

VIVEK COLLEGE OF COMMERCE

4. Do you have bank account?

A)
Yes B) No
5. In which bank you have an account?
a)Nationalised b)private
c)foreign
d)co-operative
6. What type of debit card you hold?
a)Payment card
b)ATM card
7. What would you prefer to carry?
a) cash b)Debit card
8. Which card would you prefer?
a) credit card
b)debit card
9. Do you use your debit card for online purchase?
a) yes b)no
10. How frequently do you use your debit card?
A) daily b)weekly
c)monthly
11. Are you satisfied with the services provided by your bank?
a) yes
b)no
12. As you know there are many news of SWALLOW THE CARD are you
more careful?
a) yes
b)no

13. What kind of problems you face while using your debit card?
..
..
..
..
14. Would you like to give any suggestions or recommendation?
..
..
..

Signature:

DEBIT CARD

44

VIVEK COLLEGE OF COMMERCE

DEBIT CARD

45