Cheapest Debit Card

Debit cards are a great way to make credit card like transactions while using your own money. By using the free prepaid debit card you will not have to pay any of the high interest rates that are associated with credit cards. However, debit cards do come with fees that can dramatically increase the amount that you pay on the card. This article will explain what a debit card is and what fees you may have to pay when you use the card. Furthermore, this article will explain how you can avoid paying some of the fees so you can reduce your costs.

What is a Debit Card

A debit card is a card that will allow you to make purchases with your own money. You can do this by linking the card to your savings account, or using a prepaid card which gives you access to funds you put onto the card. The main feature of the debit cards are that you can use the card to make purchases that usually requires a credit card. By using a debit card you will avoid having to pay off a large debt and you will also avoid paying the high rates of interest that are associated with the credit cards.

What Fees will you have to Pay with a Pre-paid Debit Card

While you will avoid paying interest you may have to pay a variety of fees when you use the debit card. Some of the fees you will have to pay will be:

• Transaction fees. Whenever you use a debit card you will have to pay transaction fees. These fees will usually be a set rate each time you use the card. However, if you are using the card overseas you will have to pay a higher rate on these fees.
• Top up fees. Most debit cards will charge you a fee when you top up your balance.
• Monthly fees. Most of the debit cards will require you to pay a monthly fee. This fee will cover the costs of the general administration associated with your card.
• Foreign currency fee. If you use your debit card in another country you will also have to pay a fee to transfer the currency.

How to Get the Cheapest Debit Card

While many of the fees that are charged to the debit cards are very similar between providers there are ways that you can avoid paying too much in fees. These are:

• Recharge with large amounts. You are charged a fee when you top up your card with money. To avoid constantly paying these fees you should put large sums of money on each time you need to put money on the card. This even though you will gradually use the money you will save money by not having to pay the top up fees often.
• Make one purchase for many items. If you plan out your purchases you can save money. You are charged money for each transaction. If you wait until you have to make many purchases you can do save money by putting the variety of items on one purchase.  
• Use international debit cards. Many countries will allow you to apply for an international credit card. If you get a card that is offered in a country you are travelling to you can pay domestic rates on purchases you make and will only have to pay the one currency exchange fee.

Debit cards are a great way for people to make purchases with your own money. While they are cheaper than credit cards there are some fees that are associated with the debit cards. If you use the debit card in the right way you can be sure that you are paying fewer fees and you are making your purchases on your debit card as cheap as possible.

Transaction Accounts Comparison

Savings Account	Account Details	Maximum Variable Rate p.a.	Standard Variable Rate p.a.	Bonus Interest p.a.	Fees	Min Balance/Min Deposit
HSBC Day to Day Transaction Account	Get $10 every month, No monthly account keeping fees, plus unlimited ATM withdrawals and EFTPOS transactions	0.25%	0.25%	Up to 2.75%	$0	$0 / $0
NAB Classic Banking	Zero monthly fees and no minimum deposit required. Receive the NAB Visa Debit card at no extra cost.	0.01%	0.01%	0.00%	$0	$0 / $0
Citibank Plus Transaction Account	No monthly fees and unlimited transactions free of charge.	0.00%	0.00%	0.00%	$$0	$0 / $0

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