Know the Eligibility Criteria for Visa Debit Card

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In the modern era, the debit card has become a common form of plastic money, that has simplified the lives of people by enabling them to make easy purchases and expenses. However, different types of debit card are available out there. Amongst all, a Visa debit card is a popular form of debit card. A Visa debit card is a debit card offered by the Visa company; however, the card is issued by a financial institution like a bank. The Visa issues different types of Visa debit cards these include the Visa classic debit card, Visa gold debit card, Visa Platinum debit card, Visa signature debit card and Visa infinite debit card.  The card is secure for making payments and can be used by people for online transactions across cities, towns, and countries.

The visa debit card allows the cardholder to manage their cash flow and financial transactions. Further, the management of funds can be made easier with the Visa debit card, as there are no restrictions when it comes to carrying and managing cash. Further, there are various benefits offered by the Visa debit cards, such as high transaction limits, secured spendings, insurance coverage, and easy card blocking in case of theft and frauds. The benefits are listed in details in the table mentioned below:

Benefit Description
Easily accessible The visa debit card is easily accessible, as the card can be activated anytime by generating a debit card PIN at the nearest ATM.
Higher transaction limit The transaction limit offered on Visa Debit card is higher as the daily cash withdrawal limit is Rs 50,000. The purchase limit, on the other hand, is Rs 1,00,000.
Secured payment The transactions as per the Visa debit cards are secured as they are CHIP and PIN enabled. 
Insurance coverage The Visa credit card offers a personal accident cover of up to Rs 2 lakhs, along with air accident cover of Rs 1 crore. 

Eligibility for a Visa Debit Card: In order to avail the benefits and facilities of a Visa Debit card, one needs to fulfil certain eligibility criteria. To avail a Visa debit card, it is important that you hold a savings account in a bank, that could be linked with the Visa debit. The purchases made with a Visa debit card are as per the funds in the linked savings account. The benefits of the Visa debit card can even be availed by people who hold a women’s saving account or a senior citizen savings account. Apart, one also needs to fulfil certain documentation requirements in order to get a Visa debit card. The documents required for a visa debit card are the same as that of a savings account. These include basic identity proofs such as PAN card, driving license, Voter ID card, Passport, or the aadhar card. Along with these, one is also required to submit the two recent passport size photographs and the Visa debit card application form. Thus, on a concluding note, it must be made clear that a Visa debit card can aad numerous benefits to an individuals life by reducing the financial stress that occurs due to the mismanagement of funds. However, to avail these benefits, it is important that one ensures the fulfilment of eligibility and documentation.

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