What is a debit card? How is a debit card different from a credit card?

The bank issues a number of cards to serve the payment, spending and transaction needs of customers. In particular, debit card is the most popular and used card today. So what is a debit card? Is a debit card the same as a credit card? Refer to the information gathered in the following article.

What is a debit card?

A debit card is a Debit Card or a payment card issued by a bank. This card is linked directly to your bank account. You need to top up your account to be able to spend, transact, pay bills by card instead of cash. And how much money is in the card, you are only allowed to spend so much (some banks need to leave 50,000 PHP to maintain the card).


Features of debit card

A physical debit card is made of plastic material, issued from a bank, with basic features including:

  • Debit card number: A sequence of 16 digits printed on the card
  • Customer Name: Your name will be on the card for personal use.
  • Card validity period: Each Debit card has a period of use. Normally this time is 8 years, expired card will not be able to make transactions. Now you need to go to the bank to renew.
  • Account number: A series of bank account numbers linked to the debit card. Note: The bank account number is different from the debit card number printed on the card.
  • CVV/CCS number: 3 digits on the back of the card

Debit card classification

There are two common types of debit cards:

  • Domestic debit card: only used for domestic payment and spending, or ATM card (detailed instructions for making ATM card)
  • International debit cards: used for transactions and payments in all countries around the world. This line of cards is usually issued by world-renowned organizations such as Visa, MasterCard.

What is the function of the debit card?

Debit card is a type of payment card with specific functions:

  • Pay online and directly at transaction points: Instead of using cash, with just one simple card swipe, you quickly pay for your bill. You will not spend much time waiting for the cashier to collect money and no longer have to worry about losing cash.
  • Deposit – transfer – withdraw money at ATM system: With a nationwide ATM system, customers with debit cards can quickly top up/transfer/withdraw money at ATMs.
  • Deposit savings directly at ATM: You can quickly deposit and manage your savings right on the bank’s application via debit card without going to the transaction office.
  • Balance query: Track account balance via ATM and e-Banking quickly and easily.
  • Print statement: Your transactions will be saved by the bank. You can print the statement to double check.

Debit card overview

Using a debit card will have many advantages and disadvantages.


  • Make transactions, pay bills, and shop safely without using cash.
  • Transfer fee, card maintenance fee, low withdrawal fee.
  • Spend with the amount you loaded into the card, can transact both domestically and internationally.
  • Card registration procedure is simple, just need ID card/CCCD.
  • Information security, high safety, Compact, easy to store
  • Payment 24/7: Banks now provide 24/7 payment service, you can completely pay by card anywhere and anytime.
  • Earn interest from the amount in the card: In addition to being used for payment, the unused amount in the card will be paid interest by the bank with interest rate without term.


  • Can only spend in the card, not spend first, refund later like credit cards.
  • Debit cards are less favorable from banks.

How is a debit card different from a credit card?

The same

Debit and credit cards are both ATM cards.
They all have the ability to withdraw cash at an ATM.
Cashless payment is possible.
They are divided into 2 main types of cards: domestic cards and international cards.

The difference

Debit and credit cards are completely different:

Characteristics Use as much as you can Tạm “vay” tiền ngân hàng trước rồi trả sau
Connect to a bank account yes no
Card making procedure Bring ID/CCCD, passport to the bank for procedures Proof of finance and liquidity such as monthly income.
Card limit Be decided based on the amount you deposit into your bank account. Decided by the bank
Endow Few offers Many incentives to stimulate customers to consume.
Interest rate Interest rate on demand deposit will be applied to the amount deposited in the account. If you do not repay the bank in full within the allotted time, you will have to pay a rather high interest to the bank.

Instructions for making a debit card

Signing up for a debit card is very simple. All customers in need can open a debit card easily.


Conditions for opening the card are:

  • Filipinos citizens aged 18 years or older, foreigners living in Philipines.
  • Have a valid ID/CCCD. Foreigners need a passport and a letter of introduction from the working agency.
  • Bank account opened.


The card opening procedure requires:

  • ID card/CCCD/Passport.
  • Opening an international debit card requires a copy of your permanent residence.
  • Certificate of issuance and use of debit card.


To register to open a card, customers need to go directly to the nearest branch, bank transaction office and ask the teller to assist in opening the card.

After filling in the card opening application form, the customer submits all documents and procedures to the tellers and fees if any.

The teller will open an account for the customer and schedule the next day to receive the card. Customers need an appointment to receive the card and come to receive the card at the scheduled time.

Note the banking hours when opening a debit card.


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