Your Debit Card does more than give you cash

A Debit Card has become a basic necessity in the new normal. Not only is it more convenient to carry around, but it can also be used for contactless payments. But did you know there are several other benefits that your debit card offers? 

Debit cards work the same way no matter which bank you choose. Nevertheless, not all cards are created equal. Depending on your account type and your bank's commercial partners, costs and features may vary.  

Here are 10 things you probably didn't know about your debit card, especially if you have an IDFC FIRST Bank Debit Card.

1. Setting Limits on Transactions:

With the IDFC FIRST Bank mobile app or through net banking, you can manage your transactions and set limits as you like. This is especially helpful if you are trying to set budgets and want to stop yourself from overspending. 

Simply: Login->Have-> Cards->Click on your Debit Card-> Manage Usage & Limits->Use slider to on/off Transactions 

2. Limit on Contactless Payments:

A contactless transaction is carried out by tapping the card on a POS machine and doesn't require you to enter your PIN to complete the transaction. Following the Reserve Bank of India (RBI) guidelines, the limit for contactless transactions is Rs 5,000 per transaction, and no PIN is required for transactions up to Rs 5,000. However, you can set a lower limit or disable the contactless feature via the mobile banking application or net banking. 

3. Block Your Card Temporarily:

A temporary block means that the card can be unblocked later. You can temporarily block your debit card by using net banking, mobile app, IVR, or SMS.

4. Eligible for First Transaction Cashback:

Your IDFC FIRST Bank debit card is eligible for a cashback amount that will be directly credited to the account linked to the card by the 15 of the next month. If the 15 of the month is a holiday, the same shall be credited by the next working day.

5. You Have a Lost Card Liability Cover:

A lost card liability cover is a protection provided to cardholders in case of card loss or any fraudulent activity conducted on your card without your knowledge. Please refer to the "Know your debit card" section for cover limits on your card. 

6. You Can Perform International Transactions:

When Debit Cards are dispatched to customers, they are disabled for international usage by default. You can enable this feature on your VISA debit card through IDFC FIRST Bank mobile banking and net banking. However, remember that international transactions are subject to 2% mark-up fees plus applicable taxes. 

7. Complimentary Access to Airport Lounges Globally:

IDFC FIRST Bank provides free airport lounge access at partnering airports, and under the scheme, lounge benefits can be availed without any additional charge.  

8. Purchase Protection on Debit Card:

When you have a purchase protection cover, it secures your purchases from fire/theft/burglary within 90 days of purchase done using your debit card. Refer to the "Know your debit card" section for cover limits on your card.

9. Insurance Benefits on Debit Cards:

The claim will be extended on your top debit card variant so that you can get the highest benefit. 

10. A host of Offers Available on Debit Cards:

Learn more about the various offers you can avail through your debit card from the website. You can view them here https://www.idfcfirstbank.com/offers/debit-offers

IDFC FIRST Bank believes in offering secure and convenient payment instruments to its customers. The bank offers debit cards associated with VISA, RuPay, and MasterCard.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.