Debit cards in the USA, their varieties and features. Banks for registration cards.
In USA American credit cards are more common than debit ones. Basically, they are used to cash out funds for purchases where cashless payments are not accepted.
A debit card in the USA is a way of collecting money for further investing of their profitable projects.
Payment systems in the USA
In United States, along with the Federal Reserve System, there are large national networks, non-state payment systems that also serve plastic cards, make electronic payments, and provide acquiring services.
Systems differ in clearing technologies, transaction costs, transaction conditions, etc. Recently, automated clearing houses have been developed. Operations are licensed by each state.
The most popular and major operators include VISA and MASTERCARD. American express plays an additional role.
VISA represents an international payment system, the main currency of which is the US dollar.
Visa Inc. is a US multinational company that provides payment transaction services and ensures their security based on VISAPayWave technology. Services are provided worldwide, more than 20 thousand credit organizations work with this system. The average speed of operations is 1.4 seconds, about 200 million transactions are processed per day. The company’s annual turnover is about 5 trillion US dollars, which indicates the scale and influence of the company.
|Classic||It has standard features, it is used to pay for services in stores, the Internet, etc.|
|Gold||It has additional requirements for the holder, has a number of additional options: increases the amount of cash withdrawals, discounts on travel, on the purchase of rare goods, etc.|
|Platinum|| Bonus programs are expanded, additional service and|
discounts are offered.
|Signature||The service provides maximum card limits, all possible bonuses, discounts and privileges that are available for the products indicated above, provides information support and assistance in the provision of services.|
|Black Card||For customers with special statuses. It is made of a special material – carbon fiber. High status is confirmed by the fact that in the USA its owners are only 1% of the population. The holder uses the maximum service at the airports, insurance is provided for tourist trips, accident insurance and flight cancellation insurance.|
|Signature||It provides maximum purchasing power, the provision of additional options when vacationing abroad, expanded opportunities for use.|
|For customers with the highest solvency, the availability of exclusive options and capabilities.|
For children there is a special offer – Buxx card, with which the child can pay at school, make the necessary purchases within the limit set by the parents. To make payments via the Internet there is a virtual card.
Additionally there is a visa for business:
|Business Debit||Designed for small businesses, with its help settlements are made, purchases and payments are made.|
|For a business that uses vehicles in its activities, additional options are the provision of discounts on fuel and lubricants.|
|A prepaid card for instant issuance.|
Mastercard International Corporation is a financial company engaged in processing payments between acquirer banks.
The company has offices in more than 200 countries, with headquarters in New York. The partners of the company are more than 25 thousand financial organizations. The company occupies the fourth part of the plastic card issuing market.
The main functions of the company are: issuing cards, payments via the Internet, customer service, introducing microprocessor card technology, ensuring the security of operations. Types of MasterCard:
|Standard||For settlements in retail outlets, payment for services, transfers, cash withdrawals.|
|Maestro||Prepaid, which is tied to the current account of the owner. It has the same options as the standard one.|
|Gold||Status, with additional discounts and bonuses. It is possible to use for business.|
|Premium level with additional service: you can use the services of private clubs, travel around the world, get big discounts.|
|World||Premium, for travel and lucrative purchases wherever it is accepted. Insurance for safe flights is included.|
|World Black Edition||It has the maximum privileges and opportunities when traveling abroad, provides the highest level of service, concierge service, it is possible to use for business.|
|Elite||The most prestigious super-class product with the highest privileges, bonuses, discounts and opportunities.|
Operations are carried out through Banknet, which is characterized by stable working.
The system is common in the USA and Canada. Cards are issued by the American financial company American Express.
Issues consumer and corporate means of payment, traveller’s checks, provides financial services.
The brand of the company is considered expensive, so wealthy US citizens use the services. Chip cards with a high level of protection. Payment security is provided by 3D Secure technology. There is a 24-hour customer support service. Types of American Express:
|With a standard set of services.|
|With a high level of service. Owners are invited to participate in the bonus program, there is a travel organization service, insurance programs.|
|Platinum Card||With maximum options and features.|
U.S. Debit Card Issue Terms
1. First of all, you need to choose a bank through which it is better to issue a debit card. Information on conditions and parameters can be obtained on the websites of banks, reviews on thematic forums.
The most popular banks are Bank of America, Bank of New York, Chevy Chase Bank. OFFICIAL LINKS TO BANKS The bank is not interested in the status of the client. A card is issued without a commission.
2. Next, you will need to fill out a questionnaire indicating your personal data, contact information, place of residence. There is no registration in America, therefore, the address of the rented apartment, the dormitory room, etc. can be indicated by the place of residence. In the additional information, the status of the client is indicated, it is proposed to choose the design of the document.
Documents required for registration
– A social security number that is assigned to US citizens and officially resident foreigners. It consists of 9 digits:
The number is assigned once in a lifetime and cannot be replaced. For registration, ordinary SSNs are used, temporary (for holders of work visas H1-B, L1) SSN, ITIN (for those who do not have the right to work in the USA).
– Valid passport. Non-US citizens submit a Green Card, a document entitling them to work in America.
The client may have a tourist or student visa. In this case, relevant documents are provided. For example, f. DS-2019. The document confirms that the owner is a member of the Work & Travel student exchange program:
A bank account is issued to the client, which is tied to the card, and he gets the opportunity to conduct any financial transactions.
– Additionally, you may need a letter from the university for students, from the employer for employees, birth certificate, driver’s license.
3. Design. It is 2 weeks. For this period, the client is provided with a temporary unnamed card, which can be used on a par with the standard one: pay for purchases and services, make payments via the Internet, and withdraw cash. It is provided for a period of 30 days.
If there is a delay for a period of more than a month when registering continuously, another temporary document is provided to the client. Upon receipt of the main card, the temporary card is deleted.
The cost of service depends on the selected bank-acquirer and the program that the client chooses. There are standard cards with free service, the higher its status, the more expensive the cost of services.
A fee of 1-2% is charged for cashing out money.
What cards do people in America use?
When paying, Americans mostly use credit cards with good cashbacks and long interest-free periods. Debit ones work as a wallet, where funds are collected and, if necessary, redirected to a credit account.
The most common cards are VISA and MASTERCARD payment systems. Moreover, for each adult resident comes 4-5 pcs. cards of different banks. Children’s cards are popular, allowing you to control the expenses of the child.
What is the best way to pay in USA – cash or card?
Americans practically do not use cash, all payments are made using bank cards or checks. Cash may be required for paid parking, when traveling by bus, if you need to tip, buy souvenirs, or play slot machines.
How secure are payment systems in the USA?
Payment systems provide a high level of security, but fraud is common. Therefore, experts advise using ATMs and cards of only the largest credit organizations: Bank of America, Chase, CitiBank, US Bank, Wells Fargo.
What is DS-2019 FORM, where is it issued?
This is a document confirming the status of a participant in the US exchange program. It is called a “visa document.” Its presence gives the right to apply for a J-1 visa. A document is drawn up through the US Department of State.
The conditions for issuing and parameters of debit cards in America are determined by the banks issuing them. They also appoint commissions for maintenance and use.
Modern conditions dictate the widespread dissemination of cashless payments, including using debit cards, so their popularity and demand will only increase both in America and in other states.