Debit Card vs Pay as you go Debit Card
Fits Me supplies prospects with pay as you go Mastercard® debit playing cards. The principle distinction between the Fits Me debit card and a excessive road financial institution debit card is that you could solely spend cash that you’ve got in your account. This implies there are not any overdrafts or mortgage services, and you can’t spend greater than you’ve gotten. However as a result of credit score is just not supplied, a credit score examine is just not wanted, making Fits Me accounts accessible to everybody.
If you happen to’re curious in regards to the distinction between a debit and a bank card, take a look at our different weblog: What are the Variations Between a Credit score Card and a Debit Card?
How Do Debit Playing cards Work?
Once you open a Fits Me account, you’ll be despatched a plastic Mastercard® debit card within the publish to the tackle you used when opening your account. This card supplies you with digital entry to your Fits Me account, permitting you to spend cash in your account utilizing your card. The transaction is made instantly, deducting the cash instantly out of your account to the seller.
Utilizing A Debit Card: Benefits and Disadvantages
Debit Playing cards are a good way to spend the cash in your account, or pay your payments, with out having to hold round your whole money. However that’s not the one benefit! Right here’s our listing of execs and cons for utilizing a pay as you go debit card:
The Professionals
Extensively accepted type of fee
Simpler to hold than money
Safer than carrying money
Will be changed if it will get stolen or misplaced
Store on-line or over the cellphone
Nice cashback rewards with Fits Me®
Helps you handle your cash
The Cons
Can’t take out credit score
Can’t get an overdraft
While not having the ability to take out credit score or have an overdraft will be seen as an obstacle, these are useful limitations should you battle with cash administration, or try to interrupt the cycle of debt.
Making Funds with Your Fits Me Debit Card
After you have acquired your Fits Me Mastercard® Debit Card within the publish, you will have to activate it. This stops anybody from intercepting your publish and doubtlessly utilizing your card. As soon as it’s activated, you can begin to spend the cash in your account instantly. The nice benefit of utilizing a debit card moderately than money is that you could additionally make funds on-line or over the cellphone.
Paying On-line
Your Debit Card can be utilized to make funds on-line, however make sure you solely make purchases from protected web sites that you just belief. One simple strategy to examine if a web site is safe is to search for the padlock subsequent to the web site tackle within the URL bar. For extra recommendations on how one can examine if a web site is protected, take a look at our weblog: How To Examine If A Web site Is Secure To Use.
Paying Over The Telephone
When making a fee over the cellphone, ensure that it’s to a reliable vendor. They are going to speak you thru the small print they want, and the method could be very easy.
Contactless Funds
Contactless funds are made by merely tapping your card onto the cardboard reader. There isn’t a want to make use of your PIN, however there are limits on how a lot you may spend when utilizing contactless.
Money Withdrawals
To withdraw money out of your Fits M account, you may ask for cashback at a store checkout, or head to any ATM, PayPoint, or Money Level that accepts Mastercard®. Observe the directions displayed on the display to withdraw your money. If you happen to’re utilizing an ATM, we now have put collectively a useful information on Easy methods to Use an ATM.
Refunds to Pay as you go Mastercard® Debit Playing cards
Refunds can solely be made by the service provider you paid along with your debit card. To request a refund, you will have to instantly contact the service provider you desire to a refund from. As soon as this has been accredited by the service provider, it will possibly take as much as 14 days for a refund to return again into your account.
Having the ability to make funds and request refunds with out dealing with money is a really useful and safe method of managing your cash. However what should you can’t open an account with a excessive road financial institution since you have poor credit score or no proof of tackle?
What If You Have a Poor Credit score Rating?
It may be extraordinarily troublesome to open a checking account when you’ve gotten a poor credit score historical past. It’s because banks take your credit score rating as an indicator of your capacity to handle your cash and make funds, whatever the causes in your poor credit score rating. However don’t fear, at Fits Me we’re inclusive and don’t carry out credit score checks, which means you may open an account with Fits Me no matter your credit score historical past.
What If You Have No Proof of Handle?
One other frequent stumbling block when opening a checking account is proof of tackle. Sadly, should you can not present proof of tackle for a number of months prior, it will possibly disqualify you from opening a checking account. It is a big drawback if in case you have solely simply moved to the UK, or in case your identify was not on utility payments (for instance, should you lived along with your mother and father).
Fits Me is aware of this can be a large drawback for therefore many individuals within the UK, whether or not you might be simply transferring to the UK, are coming to work right here quickly, or if in case you have simply moved again to the UK after residing overseas for a time period. That’s the reason we don’t ask for proof of tackle. All we want is a UK tackle to ship your Fits Me debit card to.
How To Get a Debit Card with Fits Me
Able to get your Pay as you go Mastercard® Debit Card? Open an account with Fits Me in simply minutes, providing you with prompt entry to your account quantity and kind code, and a debit card by means of the publish in only a few days!