Why are people reaching for their debit cards in record numbers?
- Convenience—It's quicker to pull out a plastic card at the point-of-sale than to write a check. It's also easier to track spending with cards than with cash—and using plastic eliminates the need to even carry cash.
- Pay-as-you-go—With debit, you have the convenience of plastic without carrying a loan balance or paying interest.
- Balance caps—Because debit cardholders can only spend the money they have in their checking accounts, debit cards help control spending.
- Security—Security features built into debit cards help merchants verify that the actual cardholder is the one using the card.
- Zero liability—Sun Federal Visa debit card users have zero liability for unauthorized use of their cards provided the account is in good standing and reasonable care has been exercised in safeguarding the card from loss or theft. If your card is lost or stolen, report it immediately. You don't pay for any transactions you didn't make.
- Cash back—If you use your PIN (personal identification number) for a debit card transaction rather than signing a receipt, you can request cash back at many merchant locations instead of making an extra visit to the ATM. The merchant will add the cash amount to your transaction total.
- Wide acceptance—Debit cards are accepted at locations worldwide, while many merchants are reluctant to accept non-local checks.