Critique the use of bank debit cards Bank debit cards are be

Critique the use of bank debit cards. Bank debit cards are becoming a popular alternative to using checks or credit cards. Investigate the advantages and disadvantages of using a bank debit card and answer the questions below.

Solution

Some of the advantages of using debit card inludes convenience (i.e. you dont need to carry cash),

also it can be comfortably said that it is hassle free since it is not srutinised as much as credit card.

It is also beneficial for the ones who are on budget since you can only spend what is in your account.

Also one need not worry about the interest charges, extra fees that are associated with credit cards.

Also it is rather safe than cash or chequebook.( since no one can forge your signature and steal your cash).

Some of the disadvantages of using debit cards include , you can not improve your credit and can spend only what is in your account.

Also since money is instantly withdrawn from debit cards, you can not challenge or dispute faulty charges, fees.

Also sometimes there can be a \"cap\" on how much times you can use or how much amount you can spend using debit card.