Credit and Debit cards

Normally I carry a visa debit card in case of an emergency. I get the impression that most people have credit cards. Are both equally acceptable by ATM's and in banks? If not, can anyone tell me what the difference is and how this would affect me withdrawing cash if needed. My normal spending is covered by currency/TC's.

I'm a bit curious about this as well -- I wonder if banks have different policies on these? I have been dealing with the same bank (CIBC) for many years -- they are affiliated with Visa. I now have two cards from them (neither requested, just sent to me at some point). One is a basic looking card which is labled 'convenience card' and referred to as a 'debit card': it accesses my account directly and is what merchants 'swipe' for direct payment. It has "Interact" and "PLUS" symbols on the back. I can use it in CIBC ATM's with no charge for cash withdrawals and other transactions. I understand that if I use it in another bank's ATM then there is a fee ($2 ?)

The VISA card has a different #, a holigram, and an expiry date. To use it as a purchase card requires a paper transaction (swipe, sign, etc.) It has a credit limit. On the back it has the PLUS and Interac logo, as well as CIBC. I can use it in CIBC's machines just like the 'convenience card'. Not sure about whether using it in another bank's machine as an Interac card debits my bank account, or my VISA account, but I suspect the latter. It can be used for the normal credit functions like buying a plane ticket, trav cheques, or getting a cash advance. Fairly substantial fees for cash advances as interest begins accruing immediately. (though I guess you could pre-load it with cash, as maree suggested in another thread)

Your card sounds like it might combine the functions of both my cards -- it would be worth checking on the details from your bank before leaving to be sure.

mike

I've asked my bank and they say I can use it in India in the same way as I use it here. Problem is these days you are speaking to someone in a call centre who wants to move on to another caller (stats targets) and may give the wrong information.

It's a debit card which deducts the money from what is already in our account. I am only carrying it in case of emergency but if we have one I don't want to be stranded with no cash. Has anyone else (apart from -m2-) used one in India?

my specific question for ATM'ers -- are daily withdrawal limits the same at all machines? If so, how much is it or what is the range? and what is the transaction charge for your card?

I have only been taking the Visa card, but I think I'll take the ATM card along this time just to try it out. I'll report back later next week with info about Mumbai airport machines (which cards they take, limits etc) and perhaps a report from Mapusa, which might be of interest to those planning to be around north Goa for a while.

mike

I have used debit cards exclusively in India in mostly Citibank and Standard Chartered bank ATMs and my withdrawal limits have matched my debit card limits ($300) a day. My debit card is a mastercard though.

Hope this helps.
Archana

Though debit cards are widely used I still think twice about using them while I travel.

Say your on a trip and your debit card number gets into the hands of the wrong person, your entire bank account -- and even an overdraft line of credit -- can be drained quickly. Getting your money back and your credit in order can be an unpleasant, lengthy process. Checks start bouncing left and right, fees start adding up, etc...etc...and while all of this is happening your sitting there with zilch in your bank account.

If your regular credit card get stolen, it's not so difficult to call them and have the card stop and reissue and new one and they will assist you with the fraudulent charges.

Debit cards are convenient and practical however I still would avoid using them far from home.

I don't mean to frighten anyone off on using debit cards, but just be careful.

Point taken Indiamike, you should be careful no matter what you do while traveling in India. I have traveled to India about 6 times in the last 5 years and I have not YET had any problem with my debit card transactions. I should clarify that I use debit cards for getting Indian Rupees out for daily transactions of food and transport and credit cards for major hotels or shopping. I have travelers cheques as a backup for cities without major banks. I am pretty paranoid while traveling and keep all my cards in my moneybelt and never leaving the ATM without the receipt.

Hi all.
I have googled all over the net for the safe and sheep abilities for changing e-currency to cash. Since the New York Credit Union crash at the beginning of this year it is hard to find alternative for the G-card.
I was registered at FavoCard to get there card which as they promise will provide a quick withdrawals and e-currency exchanging services, but since the time I registered I was not able to get the card. But last week I have received the news letter telling that FavoCard visa electron debit card is available for ordering. From the time I registered the card fees have changed, but they look similar like the other cards, but have some benefits that suites me.
Has anyone already had such card? Any info will be appreciated. There is a lot of info over the internet but it is differs from site to site and it is hard to make an objective opinion.

Funnily enough we had this discussion last week (but over in the packing tips for india thread? ). Hope its helps...

ATM card that have only PLUS logo, work in INDIA?

If you are based in the u.k get a Nationwide account, you can get cash from atm,s all over the world, and the best thing is that there is no charge for withdrawals. l keep this Visa debit card account just for traveling,and put cash in for my time away, and as there is never a charge l can draw out small ammounts thus reduceing the chance of too larger loss or a lot being stolen. l am sure that other countries must have these typy of cards, worth a look,but its not a credit card.

I have used both Credit (Visa), Debit (Visa, Maestro/Cirrus) and Amex all over the world.

The only thing I would recommend is that you inform the card issurer where you are going and when. Then hopefully they will not block the card. (Lloyds/TSB had a habit of blocking cards if used in older ATM's (Ones that read the stripe and not the chip) - They used to try and phone home to see if transaction was valid - but you are on holiday! so they blocked the card)

Dave

I second this post. If you live in the UK and travel overseas extensively then it is certainly worth getting a Nationwide debit and/or credit card to use abroad. Not only do they not charge a withdrawal fee but they also use the interbank rate of exchange rather than the rip-off exchange bureau rate - saving another 3% or so. I have used Nationwide cards all over the world and have never had a problem - in countries as far-flung as Laos (at the only ATM in the entire country!), Chile and, of course, India.

You might wonder where Nationwide makes any money in this... Well, in my case I was so impressed with the service that I transferred my current account, savings accounts and mortgage to Nationwide, so their strategy is working! This in turn offers the benefit of worldwide internet banking so i can manage my cards from anywhere in the world.

What about mastercard?

Is it accepted as widely as visa?

Thanks,

Antisense ^_^

Just noting that this thread until post #7 dated to 2002...

Hi Antisence l am sure that most credit cards work well not only in lndia but all around the world. But when you get a freebe make sure you take advantage of it. l will probably have Nationwide on to me now saying its about time that they got something in return for my free banking.l have a freind that is well clued up on bargains, when we were staying at a hotel in Malta he told me only to pay the bill for the wine when we leave and that they useually forget a bottle, and of course they did, he also said that they allmost never have it there way.