Types of Debit Cards | Best Debit Card 2023 - SBI, ICICI, Yes, HDFC (2024)

Debit cards have made all kinds of transactions possible, whether the value is as small as Rs 1 or in multiples of thousands. Almost every Bank in India offers a Debit Card and is tied up with a special payment system like Visa, Master, Rupay, etc, which makes transactions possible. To know more about debit cards, let’s take a look at types of debit cards along with Best debit cards 2023 - 2024.

Types of Debit Cards

There are various types of debit cards in India. Let’s have a look at each of these:

Visa Debit Card

It has a worldwide presence and is widely used in more than 200 countries across the globe. During the transaction, the money is debited from your Savings Account linked to this card in real-time. Visa card’s additional layers of security, such as Verified by Visa ensure your transaction is safe & secure. With this card, you can shop on both Indian and international shopping sites, pay your utility bills like telephone, water, electric, gas, etc.

MasterCard Debit Card

With this card, you can enjoy the benefit of accessing your cash across the world. MasterCard users can enjoy 24 hrs uninterrupted banking services, which can be used during emergencies like loss or theft of the card. Needless to say, you can make online transactions for shopping, travel, booking tickets and at the same time withdraw money from ATM centres.

Maestro Debit Cards

Maestro is recognized at over 1.5 crore POS (Point of Sale). This means you can make secure online transactions in India as well as international websites. You also get additional security with MasterCard SecureCode’s 2-Factor authentication feature on your Maestro debit.

EMV cards

EMV is an acronym for Europay, MasterCard, Visa, and are the latest chip-based technology global standard cards across the globe for making card payments. All banks are replacing ordinary debit cards with EMV chips as it provides enhanced security features. They help to stop malpractices like card cloning and card skimming. The old debit cards have a magnetic stripe that may store all your data. So fraudster can easily copy your data and create a Fake card. But in an EMV chip debit card, your data is stored only on the microprocessor chip found. This means that every time you swipe your card, the card generates a fresh user data, which makes it impossible for fraudsters to copy your previous data.

Platinum Debit Card

These cards have higher cash withdrawal limits and higher transaction limits. Platinum debit cards are generally meant for customers who are interested in having high cash withdrawals, although there is a limit to the transactions. Any platinum debit card will cost Rs 200+ST, whereas regular debit cards are charged Rs 100+ ST. But, they also have good loyalty points to offer. So if you are a frequent debit card user who wants to enjoy good rewards, this card can be a good option for you.

Best Debit Card Banks for 2023 - 2024

• ICICI Debit Card
• Axis Debit Card
• HDFC Debit Card
• SBI Debit Card
• Yes Bank Debit Card
• IndusInd Debit Card
• HSBC Debit Card
• Canara Bank Debit Card

1. ICICI Debit Card

ICICI offers a wide Range of debit cards that will suit your various needs. Whether it is for Personal Finance or business banking, you can explore different cards like -

• Gemstone Debit Card
• Expressions Debit Card
• Sapphiro Business Debit Card
• Expressions Coral Business Debit Card, etc.

ICICI cards are secured, easy to use, and it offers many reward points and privileges like access to airport lounges, enhanced security, higher withdrawal limits, insurance, etc.

2. Axis Debit Card

You have various options like Visa Classic Debit Card, Delight Debit Card, Rupay Platinum Debit Card etc., to pick from. Each card offers special privileges, for instance- Axis World Burgundy Debit Card allows you to withdraw up to 2 lakhs per day, and Axis Bank Prime Titanium Debit Card gives you free access to airport lounges. Some of the other benefits Axis offers are insurance, cashback on movie tickets, rewards programs, etc.

Some of the well-known Axis Debit Cards are listed below -

• E-Debit Card
• Liberty Debit Card
• Prestige Debit Card
• Delight Debit Card
• Rewards+ Debit Card
• MasterCard Classic Debit Card
• Youth Debit Card
• RuPay Platinum NRO Debit Card

3. HDFC Debit Card

With HDFC Debit Card you can avail great discounts on dining, shopping, entertainment, refuelling, etc. There are various debit cards that enables easy and smooth transactions such as -

• Times Points Debit Card
• Jetprivilege HDFC Bank Signature Debit Card
• Easy shop Platinum Debit Card
• Millennia Debit Card
• EasyShop Platinum Debit Card
• HDFC Bank Rewards Debit Card
• EasyShop NRO Debit Card

Online payments are secured by ‘MasterCard SecureCode’/‘Verified by Visa’. Most of the cards give special benefits like access to airport lounges, cashbacks on shopping, insurance, discount on fuel surcharge, and many rewards points.

4. SBI Debit Card

State Bank of India provides different types of debit cards like State Bank Classic Debit Card, State Bank Global International Debit Cards to its customers. Each debit card comes with a host of benefits, and varying withdrawal limits and transaction. SBI also offers a debit card loyalty program where you can get rewarded on your purchase.

Some of the most well-known cards are -

• sbiINTOUCH Tap & Go Debit Card
• SBI My Card International Debit Card
• SBI Mumbai Metro Combo Card
• SBI IOCL Co-Branded RuPay Debit Card
• State Bank Classic Debit Card
• SBI Platinum International Debit Card

5. Yes Bank Debit Card

Yes Bank Debit Cards come with an enhanced spending limit and many other value-added services. The bank offers various debit card options like -

• Yes Premia World Debit Card
• Yes Prosperity Platinum Debit Card
• Yes Prosperity Titanium Plus Debit Card
• Yes Bank RuPay Kisan Card
• Yes Bank PMJDY RuPay Chip Debit Card

You can pick the one that suits your requirements. These cards offer secure transactions, rewards and privileges as per your usage.

6. IndusInd Debit Card

IndusInd bank offers one of the widest range of debit cards to the customers. You can personalize your debit card by putting a picture of your choice. With Induslnd, you can enjoy benefits such as free movie tickets, fuel surcharge waiver, air accident cover, and complimentary lounge access. Additionally, you can avail great deals & discounts at select outlets & websites.

Some of the debit cards offered by Induslnd are -

• Pioneer World Debit Card
• Titanium Debit Card
• Signature Debit Card
• Duo Card
• World Exclusive Debit Card
• Gold Debit Card
• Titanium Metro Debit Card

7. HSBC Debit Card

The HSBC Debit Card offers you a wide range of debit cards like -

• HSBC Visa Debit Card
• HSBC Advance Platinum Debit Card
• HSBC Premier Debit Card

The bank provides one of the best customer services to its users. In case the debit card gets stolen or lost, HSBC ensures you are protected against fraudulent transactions from the moment you report in India or the in the overseas (VISA Global Assistance Helplines)

8. Canara Bank Debit Card

Canara RuPay Platinum Debit Card, Canara MasterCard Platinum Debit Card are some of the types of debit cards offered by Canara Bank. One of the important features of these debit cards is they give you special offers on shopping, travelling, dining, etc. You can pay your utility bills easily and keep a track of your spendings. The EMV chip and PIN on Canara debit cards enhances security. and access your money in India and Internationally.

Conclusion

Debit cards have become an important part of our life. Since there are many options available in the Market, ensure you go through the above mentioned best debit cards and pick the ones that suits you the needs.

FAQs

1. Are debit cards given only by banks?

A: Yes, debit cards are given to account holders by their respective banks. Moreover, the type of debit card you can apply for will depend on the bank’s facilities.

2. Do facilities on debit cards differ from bank to bank?

A: The basic facilities of debit cards, including making withdrawals from ATMs and making purchases from POS, are offered by all debit cards. However, if you are looking for loyalty points, then calculating points and rewards will differ from bank to bank. Additionally, if you are looking for a contactless debit card, then you will have to get in touch with your bank.

3. What are chip-based debit cards?

A: EMV is the latest chip-based debit card that has been designed to prevent malpractices like card cloning. There will be a microchip embedded in the card along with the magnetic strip in a chip-based card. The chip encrypts all the information and adds an extra layer of security. Chip-based debit cards are becoming the global standard for all debit cards.

4. I am an ICICI bank account holder. What are the debit cards I can apply for?

A: ICICI is one of the few banks that offer a wide range of personal debit cards. You can choose to apply for a VISA debit card, MasterCard Debit Card, and even Woman's debit card. You can also apply for a Titanium or Gold Family debit card, which is ideal if you are looking discount coupons and rewards.

You can also apply for the Smart Shopper Silver Debit Card, which gives discounts on shopping, watching movies, etc.

5. Is there any contactless debit card available?

A: Contactless Debit Cards use RFID technology and near field communication to complete the transaction. Many banks such as ICICI Bank and SBI are Offering contactless debit cards. With these cards, you do not need to swipe the card. All you need to do is wave it near the POS terminal to make the transaction.

6. Do I have to pay any money to maintain a debit card?

A: Yes, usually, banks charge a maintenance charge for the debit cards. Usually, for higher value debit cards such as Platinum and Titanium debit cards, the maintenance cost is higher.

7. What are the benefits of RuPay debit cards?

A: The RuPay debit cards are more affordable and offer the same facilities as other debit cards. Moreover, the RuPay debit cards are provided free of charge to Jan Dhan Account holders under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) Scheme.

8. Do POS terminals accept the RuPay debit cards?

A: Yes, the RuPay debit cards are accepted by most POS terminals and even for most online transactions.

9. Which is the best bank or debit card for students for online shopping or cash deposit and cash withdrawal with an ATM debit card?

A: The types of debit cards for students are Visa, Maestro, and MasterCard. And, these are offered by all major banks in India.

With Visa cards, you make withdrawals, online purchases from international shopping sites, etc. Although Maestro has less coverage than a Visa Debit Card, you can make online purchases. Domestic and international eCommerce platforms recognize the card. However, the loyalty points you will earn with a Maestro Debit Card will be less than a Visa Card. The loyalty points often prove helpful for students as they can redeem these to make purchases or get discount coupons. The Maestro Debit Card is also given by most of the premier banks in India, but you will have to apply for it separately.

The MasterCard Debit Card too can be used to make withdrawals from ATM counters and make online transactions. But, they are mostly used by individuals who want to enjoy a 24x7 banking service. Additionally, a MasterCard holder can enjoy facilities like discounts on first-class travel and an extended warranty. However, students would not usually require these services. Keeping all of these in mind, the ideal card for a student would be either a Visa Debit Card or a Maestro Debit Card. Depending on your requirements and how often you make online transactions, you can apply for one.