Which one's the best? Bank Account : Savings with Debit Card and Internet Banking

[Hrishi]

I guess they have tie-ups (something like promotion ) and for every transaction the merchant has to pay some fees to the bank or the payment gateway. I believe that's how they earn profit coz they are not lending money but still get some sort of interest.. I guess its about 2-3% or the transaction amount

That 2% transaction charged applies to Debit Card also , I think. There's a charge on Debit Cards too for using transaction gateways.

What I don't get is that why a Bank considers Credit Card a premium service rather than a Debit Card holder. Even though , the Guy having Debit card has already lent his money to the bank.
So a ticket which actually costs 100rs , costs him 80RS using Credit Card , and that too has to be paid on EMi/loans without interest.
All I can see is the ticket Vendor getting in loss.

Do care to explain , how it benefits the Bank ,and Vendor and causes loss to Customer when using CC.
:brainfcked:

 

[deepakkrishnan]

The reason is : people who use the credit card wisely <<<<<< people who use the credit card stupidly (Way outnumbered)
Credit card is the costliest loan available to a person. People end up withdrawing money from Credit card and "THAT'S A SIN".

This also explains why most of the people think credit cards are bad wherein its the other way round. Usage of credit card affects you CBILL rating ( IT actually acts a NITRO ) depending on how one uses it.

And customer will never be at loss for using a credit card (If he uses it wisely).. Y did you say this

 

[Hrishi]

The reason is : people who use the credit card wisely <<<<<< people who use the credit card stupidly (Way outnumbered)
Credit card is the costliest loan available to a person. People end up withdrawing money from Credit card and "THAT'S A SIN".

This also explains why most of the people think credit cards are bad wherein its the other way round. Usage of credit card affects you CBILL rating ( IT actually acts a NITRO ) depending on how one uses it.
:

so the only way bank profits is through stupid mistakes of customers like withdrawing money using CC or overdue payments ?? Hmmmm.....lol , so if every CC customer goes wise then the CC companies are going to get BKCPted.

And customer will never be at loss for using a credit card (If he uses it wisely).. Y did you say this

Becuase there's no way a financial institution will stay in loss , and if one has to profit then somebody gotta bear the loss , right ??

 

[Saahib]

What about VCC as I don't see anyone is talking about it as OP asked.
HDFC has VCC also but is under upgradation from last 3-4 months and thats pathetic. !

Any other bank with good VCC facility..

However, HDFC bank netbanking is one of the best I have ever used. (Apart of Citi , I have used almost all major banks netbanking).

And ICICI bank has most non-friendly netbanking.. it look likes they don't know anything about UI.

 

[deepakkrishnan]

so if every CC customer goes wise then the CC companies are going to get BKCPted.

CC companies are usually banks themselves and they will never go bankrupt (Exceptions are there ( Lehman Bros. ) )

Becuase there's no way a financial institution will stay in loss , and if one has to profit then somebody gotta bear the loss , right ??

To put it bluntly, it not at someone's loss but cumulative stupidity of the general population. There is a reason they say ignorance is Bliss.

What about VCC as I don't see anyone is talking about it as OP asked

Never understood the fascination for this product.. Maybe I never needed one I guess

 

[Hrishi]

What about VCC as I don't see anyone is talking about it as OP asked.
HDFC has VCC also but is under upgradation from last 3-4 months and thats pathetic. !

Any other bank with good VCC facility..

However, HDFC bank netbanking is one of the best I have ever used. (Apart of Citi , I have used almost all major banks netbanking).

And ICICI bank has most non-friendly netbanking.. it look likes they don't know anything about UI.

Kotak NetCard is good.

 

[dashing.sujay]

I never felt the need of VCC (SBI), perhaps the reason being absolute no international payments.

 

[whitestar_999]

^^don't worry.even if you do feel need SBI understand the risk so it has a policy of not allowing its VCC to be used on sites outside India,it can only be used within India for rupee transactions only

 

[Hrishi]

^^don't worry.even if you do feel need SBI understand the risk so it has a policy of not allowing its VCC to be used on sites outside India,it can only be used within India for rupee transactions only

 

[dashing.sujay]

^^don't worry.even if you do feel need SBI understand the risk so it has a policy of not allowing its VCC to be used on sites outside India,it can only be used within India for rupee transactions only

I see

 

[Zangetsu]

I am not much into banking , but I don't understand why will someone give you things 15-20% cheaper alongwith a credit/loan but not on a Debit Card. How the hell a financial institution benefits from this. ???

when customer makes late payment fees.
and Banks can benefit from Tax rates also as they have credited xxx amounts to various customers (not sure about it though)

 

[arijitsinha]

when customer makes late payment fees.
and Banks can benefit from Tax rates also as they have credited xxx amounts to various customers (not sure about it though)

Also there used to be an annual fees for the credit card holders, like if you dont shop for amount 5K - 10K , you have to pay 1000 Rs at the end of 1 year.
The point of giving credit card to customer is unlimiting their shopping. If someone use their CC wisely, they will not have any loss also.