How to use debit card to its best ability

An emergency fund is an amount of money that many people try to save for emergencies such as a sudden loss of a job or medical fees, house renovation/ car reparation that is caused by accident or natural disaster. However, if the emergency fund is not enough and it is impossible to borrow from other people, everything could get much worse than we thought. Therefore, there is a financial product that is called Speedy Cash Debit Card to aid people whose life has almost meet the dead end to look for the way out and move forward. At the same time, it could be used as an option for a 0% installment according to the promotions as well.

speedy-cash-card-1446992762

Speedy Cash debit card is a kind of revolving credit in form of a card that allows users to conveniently carry it with them everywhere and use during an emergency without withdrawal and card charges. Also, it is very easy to register. There is no need for security and surety. When there is a need to use the money, just bring the debit card and withdraw cash from ATM machines from any banks that have ATM Pool sign countrywide.

 

Benefits of debit card

A debit card is considered a good emergency fund without annual charges. If cash is not withdrawn, there are no additional charges that users have to pay. For anyone who has already registered and has their financial amount approved, if the first transfer is made, the bank will transfer this emergency fund into the account immediately or the next time, whenever there is a need for cash, users can withdraw cash from the ATM Pool machines over the country for 24 hours. This is like having a financial limit that can be withdrawn anytime to be ready for any unexpected events that can happen in life. More importantly, if users receive a monthly salary through SCB account and they have basic income below 10 000 baht, they can apply for a Speedy Cash debit card (8 000 baht basic salary can loan up to 5 times the salary or 1.5 million baht with a minimum payment of only 300 baht or 3% of the monthly outstanding balance). Besides, debit card can be used to pay for instalment at any participating stores up to 48 months

Constraints of debit card

Cash withdrawal by using a debit card, despite not having withdrawal fees, users still have to pay interest according to the number of days and amount of cash withdrawn. The interest rate of the debit cards might be higher than other types of credit and the interest is calculated daily. There is no grace period like a credit card (except if it is used in 0% installment promotion). The faster the users pay, the lesser the interest. However, if users delay in their payment or only pay a minimum amount, they will have to pay more interest. Thus, to prevent the interest to keep marching forward, after the cash is withdrawn, one must return the money as soon as possible without waiting for the bill.

 

Techniques to use a debit card to its best ability

  1. Use as help in time of emergency and need only
  2. Use to enhance the flow while waiting for the monthly salary to be paid
  3. Use as advance payment while waiting for money from welfares to process
  4. Use at the appropriate time such as during the 0% installment promotion
  5. If not ready, make a minimum payment to keep the credit
  6. If ready, immediately make a payment. Do not wait for outstanding amount bill

To be financially disciplined, saving enough cash into the bank account for emergency use, when something unexpected happened; for examples, loss of jobs, sickness, or encountering of an accident that causes one to be unable to continue their profession, this amount of money will allow one to not use a debit card to withdraw cash more than necessary. However, for anyone who is in a situation that needs fast cash, there is a 0% interest rate within the first 3 accounting period promotion, especially for SCB customers.

For anyone who is interested to have a special financial limit or would like to wait for an appealing promotion with a long installment, check out how to register for Speedy Cash debit card here.