How to Transfer Money from Debit card to Bank Account

Want to transfer money from debit card to bank account? then stay glued to this article as I will show you how to do so easily.
Ketcha Brandon
Transfer Money from Debit card to Bank Account

Nowadays, a bank is one of the best places to help you safeguard and manage your funds. Having the knowledge on how to transfer money from a debit card to a bank account can be of great help to you as it it will also improve your ways of managing your funds.

A debit card is one of the numerous ways that allow you to purchase goods and services both offline and online.

As soon as you have open a checking account with a bank, you can request a debit card that will allow you easily withdraw your funds from the account though some charges may apply for using the debit card. A debit card is mostly for current accounts but some savings account also have debit cards.

Do not forget that the main aim of having a saving account is to store for use in the future while it also generates a little interest so having a debit card for a saving account is not that necessary.

You are able to make purchases with your card without having to wait in a queue at a bank or better still you can access your bank online.

One of the few setbacks of this card is that it can only be used in urban zones due the fact that most of the rural areas lack access to banking services. Several individuals often think that a debit card and a credit card is the same thing but its no cause they are different even though both of them are payment cards.

In simple terms, a bank account is where you safely keep your money for better management or for future use and keeping money in the bank comes along with several benefits.

Want to transfer money from debit card to bank account? then stay glued to this article as I will show you how to do so easily.

Table of Contents

What is a Debit Card?

According to Investopedia, a debit card is a payment card that deducts money directly from a consumer’s checking account when it is used. Also called “check cards” or "bank cards," they can be used to buy goods or services; or to get cash from an automated teller machine or a merchant who'll let you add an extra amount onto a purchase.

debit card

How Does a Debit card Work?

A debit card often looks like any other charge card and is a rectangular piece of plastic. It is connected to the user's bank or credit union checking account. The size of the account affects how much money can be spent with it (the amount of funds in the account).

Debit cards operate somewhat similarly to credit cards and ATM cards. As with the former, you can use them to obtain cash from an automated teller machine at a bank, or you can use them to make purchases, as with the latter.

Debit cards that are provided by significant card-payment processors like Visa or Mastercard are really replacing many banking institutions' standard, one-use ATM cards. These debit cards are a standard feature of your checking account.

The debit card works in the same way whether it is used to get cash or make a purchase: It immediately takes money out of the associated account. Your spending is therefore constrained to the funds in your checking account, and the precise amount you have to spend will change day to day along with the balance of your account.

Additionally, debit cards typically have daily purchase limits, which prevent you from using them to make purchases totaling more than a specific amount within a given day.

How to Get a Debit Card?

If you already have a checking account, then getting hold of a debit card should be one of the least things to worry about cause it is simple. So the first point in getting a debit card is to open a checking account with your preferred bank.

In order to open an account with most of the financial service providers, you typically need to have a minimum opening balance.

Below are the paper works that will be required from you in you want to open a bank account:

  • Identification documents such as National Identity Card, Driver’s License, or passport.
  • Phone number
  • Physical address
  • Email address, and 
  • Social Security Number

Above are the basic items that will be required by most of the banks but in addition to that, your bank could ask for more which you have to show up with as soon as possible.

Immediately your card is out, you can receive it there or pick it up from the closest branch.

Who Can Use a Debit Card?

Both adults and students have the possibility of having a debit card but students less than 18 years must have their parents or guardians sign as guarantors.

Most of debit cards available have tools to help you control card usage by capping the amount of money your child can spend in a specific period of time.

How to Use a Debit Card

Making use of debit card is quite simple and below are some of the ways that you can use your debit card.

1. Buy Goods and Services

You are able to make use of a debit card both online and offline to buy goods and services but you need the card number, expiration date and CVV/Validation code so as to make an online purchase.

When purchasing goods and services in real store, you can swipe or tap register.

2. Send Money

You can transfer money from your card account online or an ATM.

All you have to do is to log into your account from your mobile phone and then navigate the money transfer menu if your card provider allows you to manage your card online.

On your mobile phone, just with a few clicks you can transfer money from debit card to another debit card or to your credit card easily.

3. Pay Bills

If you are that type of person that was use to paying your bills the old way, then with the arrival of your debit card, you will no longer have to go stand in a queue just to pay your electricity, water or any other bills.

You need to set up automatic payments to do away with manual payments; your issuer will simply take the money each month and deposit it in the service provider's account.

4. Withdraw Money at an ATM

Debit cards can be used to withdraw money from ATMs using your checking account information. When using ATMs, you can withdraw money from your account using debit, credit, or prepaid cards (Automatic Teller Machines).

You must insert your card into the reader positioned just beneath the screen of an ATM before entering your PIN in order to make a withdrawal.

Navigating to the "withdraw money" section, tapping it, entering the desired withdrawal amount, and finally finishing the withdrawal are the next steps.

You can also withdraw money from banks and credit unions that accept your card in person.

How to Transfer Money from a Debit Card to a Bank Account

Instead of making use of your checking account and routing number to transfer money to another bank, you can simply use your debit card to make the transfer.

Below are the various ways through which you can transfer money from debit card to bank account:

1. Make Use of Zelle

Zelle is a well known online money transfer service that allows you to transfer money from one bank to another. You can also use visa or Mastercard debit cards on the platform so as to fund your transfers.

If there are no technical issues, when you use Zelle to transfer money to your account, the money arrives instantly or in a matter of minutes.

2. Use the Debit's Card's Bank Account

Since you cannot have a debit card without having a checking account linked to it, this means that debit cards also have their own accounts. So you can just transfer money from a bank account using your checking account.

You can accomplish this by connecting into your bank account online, choosing the proper bank account, and then transferring the right amount.

You can utilize either a wire transfer or an ACH transfer, depending on your options. ACH transfers are safe, albeit they take longer than wire transfers to execute.

3. Use a Mobile Wallet

You are able to add your wallet account with a number of mobile wallets including PayPal, Payoneer, Facebook Pay, Venmo and others. Once you have done this, the card issuers with then provide you with the amount of money you need to transfer to a bank and you will then make the transfer. You are able to transfer money instantly or within 3 business days using PayPal and Venmo.

4. Use a Money Transfer Agent

Among the money transfer companies operating there are Western Union, MoneyGram, Wise, and Remitly.

They facilitate international and domestic money transactions.

Since debit cards support transfers, you can use one to fund a transfer to a domestic or international bank.

Are Debit Cards Secure to Use?

Due to the fact that the providers have put in place numerous security measures to protect your money, debit cards are safe to use. One of them is the fact that the card have a PIN that you can use to stop someone from taking money out of your account.

Also, some organizations have created a two-way authentication mechanism that allows your provider to contact you through a registered phone number when the card is inserted in an ATM slot.

If it happens to be you inserting the card, then all you have to do is to accept and keep withdrawing the money.

Your card are also protected using data encryption. You may be sure that no outsider will be able to access your data as you communicate with the issuer's servers by employing this strategy.

With this strategy, hackers won't be able to access your sensitive information like your PIN or passphrase.

When using your card with an app, banks also let you access your account using biometric data like as Touch ID and Face Unlock.

Because no one else possesses biodata that is similar to yours, your account is more secure.

To help cardholders stay informed about account activities, debit card issuers also provide alerts and notification features.

If someone tries to conduct any transaction unlawfully, you can be alerted and take the appropriate action.

Final Thoughts on How to Transfer Money from Debit card to Bank Account

Nowadays, a bank is one of the best places to help you safeguard and manage your funds. Having the knowledge on how to transfer money from a debit card to a bank account can be of great help to you as it it will also improve your ways of managing your funds.

A debit card is one of the numerous ways that allow you to purchase goods and services both offline and online.

Transferring money from a debit card to bank account is easy as there are many ways to help you do it.

Frequently Asked Questions on Transferring Money From Debit Card to Bank Account

Can we transfer money from debit card to bank account online?

All you need to do is use your debit card details to add money to your wallet and simply transfer the funds to another bank/UPI account as and when you require.

Can U transfer money from Debit card to another debit card online?

Yes you are able to transfer money from one debit card to another in several ways.

How do I transfer money from my debit card to my bank account through ATM?

Go to the nearest ATM. Insert your ATM card. Select the language you prefer. Enter your debit card PIN. Select 'Yes' Click on the 'Fund Transfer' option from the bottom corner. Submit the beneficiary's details, such as bank account number and name of the bank..

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