ATM Debit Card

A brief introduction to the ATM debit card:

ATM(Automated Teller Machine) debit card is a multifaceted, powerpacked globally accepted plastic debit card which enables one to access ones account from anywhere. The ATM debit card may have either the Visa or the Mastercard logo embossed on it.

The ATM debit card

is linked to an account from where the fees or charges are deducted as the transaction demands. The ATM debit card has the name of the debit cardholder embossed on the debit card.

· Withdrawal limit and Cost:

The maximum amount which one may withdraw per day is not more than $500. The cost of an ATM debit card is usually $150. The money is denominated in US Dollar.

· Working of the ATM debit card:

Whenever a transaction is processed on entering the PIN (personal identification number) the ATM debit card number is sent to the bank issuing theATM debit card where it is verified for the authenticity of the transaction as well as for the availability of funds.

The bank checks for the availability of funds. If there is sufficient fund the bank replies the same and the ATM debit card holder is able to carry out the transaction. In the event of non availability of fund the message of “Insufficient Fund” is displayed on the screen.

· Maintaining the confidentiality:

Only the bank is aware of the details of the transaction which it is not permitted to divulge. So, inspite of the name being embossed the confidentiality of theATM debit card bearer is maintained because the ATM debit card number is taken into account and not the name of the ATM debit card holder.

· Usefulness:

The ATM debit card is useful in the following ways:

• Withdrawal: One can withdraw money from anywhere, from any Visa or Mastercard terminal with the help of one ATM debit card.
• ATM debit card allows an individual to deposit money from any Visa or Mastercard terminal available.
• With the help of the ATM debit card one can transfer cash from one place to another in no time.
• Information on the available balance can be viewed by accessing any Visa or Mastercard terminals with the ATM debit card.
• The details of all the transactions taking place using the ATM

debit card is made available to the ATM debit card holder by means of the statement generated by the issuing bank of the ATM debit cardholder.

• Time taken for any transaction is much less because entering a PIN( personal identification number) is always faster than writing a cheque.

Offshore Pro Group

Offshore Debit Card: the Solution to Bank Account Freezing

The savagery of the global financial crisis has had its great toll on everyone, changing their very way of life. Massive inflation, rising commodity prices and mass layoffs have made each day a fight for survival. The simple tax on bank accounts that was previously being ignored by the taxpayer has now become very material, as every cent counts in these harsh times. The tax someone pays just to keep his money in the bank is suddenly heavy for the pocket.

Even having cash in bank is no longer a guarantee for having enough money when you need it, as stricter legislation and restless financial institutions may very well have your bank account frozen. Simple mistakes may now cause you proceedings to have your bank account frozen and restricted from withdrawal or use. And a frozen bank account is just like having no bank account at all.

Personal security with our offshore debit card is also guaranteed because of our data encryption utility, which reduces the risks of identity theft when your funds are being drawn out of your virtual safe to almost zero. The data you enter also goes through a strict verification process to check its compatibility with your transaction history. Any unwanted intrusion from anonymous third parties will also be blocked by our account-locking system thus preventing any suspicious attempts. Any questionable attempt will be sent to you in full detail, asking your opinion about the matter at the same time. Your financial security and convenience are out utmost concern.

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Debit Card Offshore

When you have an offshore debit card, you have placed your money with an offshore bank and can use the debit card to have access to your money. If you have an offshore checking account, having a debit card associated with that account gives you quick and easy access to your money. Before obtaining an offshore debit card, you should make certain you will be able to use it in your own country. Otherwise, having the debit card would be useless.

Maestro and Cirrus are two of the largest international interbank network. Most ATMs feature either one or both of these logos indicating that your offshore debit card can be used at this ATM. Ensuring that your offshore debit card has one of these logos is the best way to know that you will have access to your money.

It is important that you do your due diligence before placing your money in an offshore account and obtaining an offshore debit card. There are a great number of institutions and products available in other countries. The responsibility of checking out these offshore institutions and products is yours. You should check out the institution with local regulators as much as possible. Make sure the institution is a licensed bank or trust. Find out how long the bank as been in business and how long they have offered offshore debit card. You can also check with Visa or MasterCard to find out more about the institution. By doing this due diligence, you can have the peace of mind that your money is safe.

Find out how of your money is protected and how. For example, in the United States, up to $100,000 per account per institution is federally insured. This means if the bank happens to go bankrupt, or some other calamity occurs, the federal government will cover your loss, provided it is $100,000 or less. Does the bank abroad you are interested in have such insurance? If not, you face the risk of losing all the money you have in the account.

Make sure you fully understand the costs associated with obtaining the particular debit card. You could end up paying account maintenance fees, ATM withdrawal fees, and transaction fees to name a few. The fees charged will vary depending on the institution from which you obtain your offshore debit card. If possible, get the fees in writing for your records.

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Teaching Young People about Finance through Prepaid Credit Cards

Parents are always looking for innovative ways to teach their kids about financial responsibility – especially these days when the average college student leaves college with 5-digit credit card debt and teen budgets can go haywire during just one short trip to the shopping mall. But with the advent of many new types of prepaid credit cards, parents are finding that using a prepaid card – which has a fixed credit limit – is a great way to help kids learn about credit card responsibility.

Think of a prepaid credit card as a financial bicycle with training wheels or a long leash to rein in spending. One of the biggest challenges when teaching a young person about finances – especially credit card debt – is to figure out how to balance financial freedom with budget limits. If you don’t give the child freedom to make their own money management decisions they will never learn how to be responsible with a budget, but if you give them too much slack they may get into financial trouble – and could even wreck your credit along the way.

Prepaid credit cards eliminate those factors because you cannot go over the limit on a prepaid card, and since it is backed up by cash in an account you cannot misuse the prepaid card in a way that will mess up your credit score. Meanwhile you can use it to build credit, so if a teen does a good job of using their prepaid credit card wisely they can earn the right to have their own real credit card – by earning a good credit rating that will start them out as an adult on a solid financial foundation. Good budget habits are rewarded in ways that the teens can clearly see and understand, but there is so much less risk than you can potentially incur by just letting a kid be one of the signers on your own Visa or Mastercard account. In that way the prepaid credit card is really like good training wheels because it is safe but helps the young person learn to navigate their own way in this credit-conscious world.
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How do prepaid debit cards differ from bank debit and ATM cards?

How do prepaid debit cards differ from bank debit and ATM cards?

When banks first began issuing ATM cards in the 1970s, debit cards had very limited utility unlike their counterparts, credit cards, which could be used almost anywhere. Consumers could only withdraw cash from the automatic teller machines -- usually on premises at their bank. Later came other functions such as checking bank balances, transferring money between accounts and depositing funds after hours. Bank debit cards have always required the use of a personal identification number (PIN) to access funds or perform other transactions. Certain merchants began accepting debit cards for point of sale transactions in the late 1980s, notably supermarkets, convenience stores and gasoline retailers. These transactions still required the input of a PIN via a keypad used by the consumer. The settlement process involves transferring cash from the individual's checking account to the merchant's account.

The debit card world changed dramatically when Visa and MasterCard credit card associations entered the arena and teamed up with banks to issue bank debit cards and prepaid debit cards with the Visa and MasterCard credit card logo. This allowed PIN-less debit card transactions to occur and provided worldwide acceptability to debit cards as with Visa and MasterCard credit cards. Visa and MasterCard had figured out a way to make money from merchants when consumers paid for goods and services through their checking account. Consumers were happy because they could have much of the utility of a credit card without having to worry about going into debt (although it required discipline to write down the charges to keep the

checking account balanced). And lastly, merchants were happy because they could avoid dealing with losses from bad checks -- by paying a percentage fee for each sale to the card associations.

Bank debit (also known as check cards) and prepaid debit cards differ from bank ATM cards in that they do not require use of a PIN to access funds, unless the customer is using an ATM to withdraw cash. A prepaid debit card also has a credit line equal to the amount on deposit with the card company, so it is a pre-funded credit line rather than a borrowed credit line. Debit cards draw funds from a bank checking account and prepaid credit cards draw funds from the money "loaded" onto the card beforehand.

Prepaid debit cards carry the Visa or MasterCard logo and are accepted worldwide as with normal credit cards. These cards are a good option for those with insufficient credit history or impaired credit because they do not require a credit bureau check to be approved. The traditional un-banked populations in the United States have proven to be a tremendous growth area for these products and should continue to fuel growth over the next decade.
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How to Choose the “Best” Credit Card

The best-known credit cards in the U.S. carry the name of Visa, MasterCard, American Express or Discover—the Big Four. But Visa and MasterCard cards are not actually issued by either Visa or MasterCard. They’re issued by more than 20,000 individual financial institutions (mostly banks) that are licensed to do so. And each card issuer sets—and often changes—its own rules and rates in regard to finance charges, fees, benefits, credit limits, application approval, account restrictions or cancellations, etc.

With so many different cards to choose from, and so many recent changes throughout the credit card industry due to the recession and federal government intervention, it’s more difficult than ever to choose the “best” credit card. It could take you weeks and much effort to check out every credit card by yourself, and you might overlook a number of cards that are unknown to the general public.

Fortunately, our website can be of help. As you explore our website, you’ll see that we’ve made it easy for you to express your needs, wants, credit situation and other variables, so we can recommend which card is best for you, right now.

Are you primarily interested in a low interest rate, balance transfers, instant approval, reward or cash-back programs, airline miles, a high credit limit, a prepaid debit card, a student card, a card for business use, a gasoline card, a card for world travel, no annual fee, a decent grace period, a card for use at ATM machines...or something else? Is your credit very good, bad, or somewhere in between? Would you like a card that will impress others?

When comparing cards—and we’ve made it very easy to do so— keep these suggestions in mind:

1. Don’t just look at the introductory “teaser” rate, if there is one, and ignore the other data. After the specified period (which might be only a few months), the regular rate will kick in, and it could be much higher than cards without an intro rate.

2. If both you and your spouse are considering a new card, you might want to apply to different card issuers, to help control your use of credit. If you both use the same card (i.e., one account with two actual cards), it’s all too easy to inadvertently exceed your credit limit and be hit with over-limit fees, or have your card rejected when trying to use it.

3. If you run a small business, it helps to have a separate card only for business-related purchases (unless that’s prohibited by the card issuer). It will help you keep track of expenses and at tax time.

Once you’ve narrowed down your card choices, just follow the simple directions, and in seconds you’ll find out which cards are the best for you. There’s no charge—now or ever—for our services!
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Credit Card Tips for Travelers

As the famous credit card advertisement advises, “Don’t leave home without it.” Traveling light is the name of the game, and nothing lightens the load like a thin plastic credit card that can replace cash and traveler’s checks while also making financial logistics a cinch while you’re far away from home. But before you embark on your next trip, it is good idea to first make sure that you have the right card – and the appropriate procedures and precautions in place – to ensure smooth sailing and safe, easy access to your cash.

First of all, make sure that you have a system in place to pay your monthly credit card bills. Otherwise regardless of how carefully you plan your trip you may wind up unable to make timely payments, and that will add fees, penalties, and damage your credit score while potentially leaving you unable to use your card because of an overdue balance. Next, make sure your card is not going to expire while you’re still on the road. If that happens you may have a worthless card in your pocket while the new valid one sits collecting dust at home in your mail box.

Sometimes carrying an ATM card tied to your bank checking account is the most convenient plan, but depending upon your circumstances and financial situation you may want to just you a credit card – or take both pieces of plastic along for the ride. Regardless of which cards you decide to take, always find out if your card is accepted in the places you intend to visit. If you aren’t sure, ask your card company, bank, travel agent, or a travel information office located in the city or town you plan to visit. While you’re at it, make sure that your personal identification number or PIN is updated so that you can use the card to access quick cash from ATM machines.

Last but not least, make photocopies of any cards you intend to pack along on the trip, remembering to copy both sides of the card. Give one photocopy to a trusted friend or family member so that they can retrieve your card information if your credit card is lost or stolen. Put the other one in a safe place and take it with you, but do not stash it in the same place as your actual cards. If you carry cards in your wallet, for instance, carry the photocopy someplace else or leave it locked in a hotel safe. That way if your wallet is lost or stolen you will still have copies of the cards elsewhere, and that will help you immensely when it is time to contact your credit card company and get a replacement issued and sent to you.
Offshore Pro Group