Digital payments aren't just the way of the future anymore—they're here, and they're here to stay. According to CNBC, digital payments are expected to hit 726 billion by this year, so people are on board with the plastic payment trend. If you still needed some convincing to get excited about digital payments, COVID and contactless payments have made it available in a number of in-person environments where it wasn't previously possible. As for today, follow us on a deep dive of the many benefits of using a debit card for your regular purchases.
If you're the type of person who prefers to make purchases with cash in hand over using credit, going for a debit card can give you some middle ground to reap the benefits of both. Here are a few of the best perks. So read on, and then get swiping.
While cash in your home or wallet can be lost or stolen and never seen again, you can call to suspend or cancel your debit card at the first sign of suspicious activity. And since your account with RMCU is insured, you're protected against fraudulent charges.
Chip-enabled debit cards hold a tiny computer inside that slim exterior. That processor enables your card to encrypt information and protect your personal data as the terminal processes the transaction. That makes it much harder for thieves to skim your info, helping reduce identity theft.
You might argue that there's no risk of identity theft if you're just paying cash, but cash doesn't protect you against purse snatching or break-ins, and it certainly doesn't let you shop online. There's a lot to be said for spending with debit these days.
No Annual Fees
Swiping with debit comes with the benefit of no annual fees that you might be charged with a credit card, but you can still utilize those vital electronic payments as you online shop or buy from automated kiosks. You don't have to spend money just to spend your money when you're using debit.
When you're spending with a debit card, you're only handing over money that's already yours and in your account. Even so, you don't have to stress about hefty fees if you miscalculate on a bank account balance: just make sure you have overdraft protection set up with your RMCU checking account. That way, a 20-cent accounting error won't cost you much more in fees.
Swipe Your Way to Rewards
Typically, you think of credit cards when you think of rewards. But with an RMCU Swipe account, you can earn rewards just on your checking account. You get 5¢ cents back every time you swipe after ten swipes in a month. Your morning coffee, lunch, after-work beer at the brewery, and the milk you pick up on your way home, all of them are earning you money. You get cashback with groceries, cashback with bills, cashback with pets, cashback with gas, cashback with ski passes, cashback with coffee: Swiper, keep swiping, and keep getting cashback with every purchase you make. With so many ways to build your cashback rewards, it has never been easier to swipe even with contactless payment methods.
More Ways to Swipe
Now in 2020, enjoy the same Swipe benefits when you pay with Samsung Pay or Apple Wallet. Yup, you don't even have to pull out your wallet anymore—you can just tap your phone and go. It doesn't get much easier than that. Swiper, keep swiping with RMCU.
Click here to find out more about your RMCU checking account options, including Swipe.
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Variable rates as low as 9.74% APR and are subject to credit approval.
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