In the age of cashless transactions, debit cards have become quite common. Yes, they are so useful, that, like smartphones, they are everywhere. As digital transactions are getting increasingly mainstream, people are using them instead of cash. That is because debit cards are an efficient and convenient mode of payment. So, in case you want to know, a debit card is a plastic card issued by your bank. It can be used to pay the amount that you owe to the merchant, which will be debited from your bank account at the same time. A debit card is a card which is linked to your bank account like a savings account, current account etc. It is secured with a secret PIN that allows you to use it with safety.
 
A debit card can be used anywhere a merchant/retailer has a valid card swiping machine or in case you are paying online. You can also use it at a bank ATM to withdraw your money, get a statement and other details too. Debit cards are associated with one of the major credit card companies and will usually have a Visa or MasterCard logo over them. 

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Here are 5 pros and cons of having a Debit card with you:- 

Pros of having a Debit Card:

1. Easy and convenient:

The debit cards are easy to use, they are small, lightweight and fit easily in your pockets. A user can use it anywhere s\he wants, if a merchant has a valid machine to accept money. It also generates an automatic receipt that serves as evidence of payment made. 

2. No need to carry cash:

The government has been working on promoting cashless transactions. Debit cards allows you to walk with no or less cash. It minimises the risk of theft too. 

3. Offers and discounts:

Nowadays, banks and merchants provide huge offers and cashbacks on shopping. It helps them increase their sales and the user ends up getting big discounts. 

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Cons of having a Credit Card:

1. Increases your chances to spend more:

Due to ease, and convenience that the payment entails, it increases your chances of spending more. Buying unwanted things and spending more often becomes a problem of many amateur users. 

2. Risk of online\offline\ATM frauds:

With a growing number of plastic users, cases of frauds have also increased. ATM frauds, online hacking, fake swiping machines are some of the risks that can be there. However, a user should never share his\her PIN with anyone and take safety measures while using a debit card and that can ensure safety.

3. Penalties and charges:

Banks charge penalties and additional charges, in case you spend more than a set limit. They also charge annual charges and sometimes levy taxes on purchases.