Whats the difference between a debit card, and a cheque card?

[blue-eye-boy]

I hear many people talk about a cheque card. But I cant see the difference?

 

[J25]

A cheque card can be used anywhere a credit card can, eg. online bookings/shopping

 

[Sting]

I don't see a difference either...

 

[Frankie]

Some banks debit cards aren't connected to Visa or Master Card (mine is), and in this case you don't enjoy the built-in protection offered by those two card companies.
This year HSBC changed their Debit cards from Meastro to Visa, and since then I no longer use the Visa credit card.

Most cheque cards are connected to Visa or Master Card.

Many of the SA online shops defeat the customer protection provided by the big card companies by insisting on EFT payments - I don't buy from such places.

 

[blue-eye-boy]

A cheque card can be used anywhere a credit card can, eg. online bookings/shopping

Ah okay, didn't know that. I still prefer my CC though. No transaction cost, just a monthly fee, or annual.

 

[Vegeta]

Credit Card fees per swipe = R0
What is the charge to swipe a cheque card?

 

[Frankie]

Credit Card fees per swipe = R0
What is the charge to swipe a cheque card?

Mine is ZERO.

 

[Frankie]

A cheque card can be used anywhere a credit card can, eg. online bookings/shopping

So can a debit card that's connected to Visa or Master Card

 

[Sting]

Nedbank Debit vs Cheque card:

 

[Anony-mousse]

What is the difference between a Maestro debit card and a cheque card?
A Maestro debit card requires a PIN and money is taken from your account immediately. A cheque card requires only that you sign the slip produced by the point-of-sale terminal. Funds are authorised by us and the transaction will take two or three days to go through your account.

From the Standard Bank website: http://www.standardbank.co.za/SBIC/Frontdoor_02_02/0,2454,3447_11663340_0,00.html

 

[blue-eye-boy]

Mine is ZERO.

Maybe because of the price plan you have with your bank account? The Nedbank acc I opened also give me unlimited debit card purchases.

 

[Rosaudio]

Uhh so Cheque Card = Credit Card?

You can get into debt with one or is it prepaid?

 

[AvatarS]

Cheque card links straight into your cheque account. So you can only use the funds in your account; not go into further debt with it.

 

[blue-eye-boy]

Well I still prefer a CC then. But if you cant control your finance, then cheque card is for you.

 

[Anony-mousse]

Uhh so Cheque Card = Credit Card?

You can get into debt with one or is it prepaid?

i guess more or less it is. just with a cheque card you can't spend money you don't have. with a credit card you can up to your limit.

 

[Rosaudio]

i guess more or less it is. just with a cheque card you can't spend money you don't have. with a credit card you can up to your limit.

Cheque card sound like a more suitable card for me then :erm:

 

[Anony-mousse]

Cheque card sound like a more suitable card for me then :erm:

 

[genetic]

just with a cheque card you can't spend money you don't have.

Unless you have overdraft facility.

 

[Anony-mousse]

Unless you have overdraft facility.

actually true. so there is no difference at all then except that cheque card debits instantly when used whereas cc is delayed?

hm, now I'm confused as well

 

[genetic]

actually true. so there is no difference at all then except that cheque card debits instantly when used whereas cc is delayed?

hm, now I'm confused as well

I think that's the case.

You also pay interest on credit card payments, while on the overdraft facility on a cheque account, you don't.
A credit card has a flat fee per month, while a cheque / debit / current account is charged per transaction.

Other than that, I think they're nearly identical...