9 is the year you want to take control of your finances! Figures show that people around the world are for the first time in decades trying to cut back on debt. One of the easiest ways to get into debt has been through bad use of credit cards. If your looking for an option that still has all the ease of use and wide acceptance of credit cards but without the monthly bills then a Visa debit card could be the answer your looking for. Most of the features of a credit card but using your own money instead of borrowing.

While a Visa Debit can be a great compliment to your credit cards, many people are choosing these debit cards as their primary card for purchases and avoiding interest fees and bills. The Visa Debit card works in much the same way as a normal Visa Card but has some advantages that the credit card does not. Although many credit cards offer rewards and incentive programs, the Visa Debit card provides direct access to the funds you have set aside just for purchasing purposes.

As well as keeping your spending in control by limiting you to what you can afford, Visa Debit can also be used for retail transactions over the phone and across the world. The card is much more secure than carrying a thick wallet full of cash around with you and offers protection against fraud and theft. Typically you will use a PIN to authorise all purchases but signature can be used as backup when selecting the ‘credit’ mode. In terms of functions and security then it is similar to a credit card but has the ease of use of a debit card.

Many banks promote the added purchase protection and security of Visa when using the CR option on the payment terminal instead of SAV or CHQ. These cards offer a specified number of free transactions per month. However, exceeding this limit could cost you in transaction fees. With the Visa Debit card becoming so widely used, this system result in changes following recent reforms introduced by the Reserve Bank of Australia.

Although EFTPOS is widely accepted in Australia, it is not accepted throughout the world. This makes the Visa Debit card superior to EFTPOS because it is accepted at millions of locations throughout the world. EFTPOS has failed to keep up with consumer demands and does not allow merchants to accept EFTPOS cards online.

One of the best features of the Visa Debit card is it’s wide acceptance anywhere you see the Visa symbol including overseas, over the phone and online. It is used with the Credit selection instead of cheque or savings. This is because it is processed by the Visa network rather than a local debit card network.

Visa not only offers a Debit card that is pre-paid, but you can also get a Visa Debit that is attached to your bank account and comes directly out of that account. This gives you more versatility when paying for purchases but can leave you spending more than you would with a pre-paid Visa Debit card. The choice is yours, pre-paid Visa Debit or one that is attached to your bank account. Either way, Visa Debit is quickly becoming the premiere debit card to use.