In this article, we will go through 2 basic types of bank card, learn about how to apply for a debit card and things to consider when using it.
There are two basic types of bank cards – credit card and debit card.
A credit card is a tool that lets you buy something now and pay for it later. The company that issues the card pays for your purchases up front, trusting that you will pay them back later.
A debit card is a card that allows cardholder to make card transactions within the amount and overdraft limit (if any) of the cardholder's payment account opened by the bank. Unlike credit cards, debit cards do not allow cardholders to spend first and pay later.
There are also two types of debit cards:
If you want to have a credit card online, you can read How to apply for an HSBC credit card online. We will now learn about the way to apply for a debit card, and things to consider when using it.
The procedure to open a debit card is relatively simple, you just need to meet a few conditions and prepare the required documents to register to open a card.
Most banks apply relatively similar conditions for opening debit card to their customers. You can apply for a debit with the following criteria:
(For foreigners: require some other necessary documents according to current regulations)
Customers who register to open an HSBC bank account linked with payroll account that be able to open an HSBC Debit card for free along with many other privileges from the HSBC Payroll Offers.
Apply at the branch
Step 3: A new debit card will be delivered to your registered address and the default SMS PIN will be issued by the bank if all requirements are satisfied.
Normally, you will receive your debit card 5 to 7 days after receiving the approval notice to open an HSBC debit card at the bank. After receiving the card, please compose a message according to the instructions to receive the PIN code.
Apply online
At HSBC, online application is only applicable to Vietnamese customers needing to open a debit card with a payroll account. After filling in the online form for registration, HSBC staff will call you for online application guidance.
Note that: Each debit card will link with each bank account. If you haven’t had a VND account, you’ll need to open a current account and debit card at the same time.
Before opening a debit card, you should also learn about its fees so that you can use the card effectively. The debit card fees usually include:
For detail, refer to: HSBC Banking Tariff
As a security feature, the debit card will be ready for use once it is activated. In order to activate the debit card, the cardholder is required to follow instructions attached with the card at the time of insurance.
The debit card is accepted at HSBC Group ATMs and at ATMs of banks worldwide, which are members of the Visa ATM network.
You can use a debit card to withdraw cash from your account, or pay at online payment gateways that have registered for online transactions with Visa or at units that use electronic card readers (POS) with international debit card.
Cash deposited at the Bank's Multi-function ATMs by use of the Debit card will only be credited to the cardholder's account upon the cardholder's confirmation at the multi-function ATM that the deposited amount is correct.
The cardholder may apply for SMS Notification Service for debit card transactions such as cash withdrawal at ATMs, cash deposit at multi-function ATMs, payments at merchant establishments, or purchase transactions via online payments gates registered with Visa.
Debit card has different usage limits depending on the regulations of the bank.
HSBC allows daily cash withdrawal limit is VND 20,000,000/day for HSBC Debit card and VND 30,000,000/day for HSBC Visa Platinum Debit card.
Daily transfer limit within card (between linked accounts) is VND 100,000,000/day.
For more details on HSBC Debit Card, please refer to Debit Card Limits.
Besides outstanding features, there are some points to help you use debit card more effectively, which are:
After activating your bank card, you should register for mobile banking to make payments and other transactions conveniently. The HSBC Mobile Banking registration process is simple. You just need to download the mobile application and follow the registration guidance. To complete the process, make sure that you have the following information: 12-digit account number, issue number, and 6-digit PIN.
An account number is a sequence of numbers issued when you open an account or bank card. This number is printed on paper or sent via email by the bank after you have successfully registered for an account or a card. The bank account number is used to make transfers and receive money, so please save your bank account number when you receive the notice from the bank.
If you accidentally lose the notice paper or forget the account number, you can look it up by:
When initially using the debit card, many people mistake the account number as the card number. The card number is a 16-digit series printed on the card surface. The use of these two numbers are different. While the card number is used for online payment, the account number is used for money transfer.
A PIN is a 4-6 digit personal identification number that enables users to access their bank account. This number is confidential information you should not disclose, and each bank will have different ways of sending PIN numbers to customers.
At HSBC, you will send an SMS from your registered phone number with syntax to receive the PIN code. After receiving your PIN, you should go to an HSBC ATM to change your PIN and immediately delete the message receiving the code.
In summary, you’ve learned about types of bank cards, how to apply for a debit card and ways to optimize its outstanding features so that you can make your transactions effectively. Open an HSBC Debit card online to receive exceptional offers. APPLY NOW.
