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A MasterCard debit card is a type of credit card that allows you to withdraw cash from your bank account. In many ways, the two are similar to each other except for the fact that you are not using your own funds when you do so. A debit card is basically just like an ATM card or you can say it is like an EFT card. However, debit cards do not allow you to have a balance and they are usually restricted to transactions that you make at your local merchant.

The upside to this type of card is that you do not pay any interest on the balance of the card until you actually use it. This means that you are not building up a credit history for the card and as such you will not qualify for a high credit limit on the card. This type of card is great if you only want to purchase small purchases but if you are going to be spending a lot of money, then a credit card is the better option. It is important to note that this is not considered a debit card. You will not be able to withdraw any funds from your bank account if you do not have enough funds within your account to cover the purchase.

This card works just like any other debit card. Once you add money to the account, you can simply use the debit card to withdraw cash from your bank. As long as you have enough money in your account to cover the purchase, you can then just use the card to make your purchase. When you want to add funds to your MasterCard debit card, you will need to add the applicable fees into your monthly statement. These are generally fairly minimal and you will barely notice them. For instance, you may find that the fee for ATM use is a couple dollars and there is also one for every sale you make in stores.

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However, some people prefer to pay more attention to these fees and this is where they can run into problems. If you pay more than $100 each month, you will be charged an annual fee at your bank, and if you pay less than this, you will probably not even notice the fee because it is usually very small. However, if you carry a balance from one month to the next, you could be hit with an increase on your account.

If you have an overdraft or a balance in your account that you are unable to pay off right away, you will be hit with an overdraft fee. The rate of this fee will depend on the bank that you use and will vary. For most banks, you are assessed an extra fee every time your balance goes over your available credit. If you decide to cancel your MasterCard debit card, you can also be hit with this fee.

Another type of fee that you will encounter with your MasterCard debit card is the purchase APR, or the interest rate. This is a percentage of the total purchase amount that you make. Banks calculate this APR based on your credit-card company's billing rates, which may be higher or lower than the average. The good news is that if you pay off your balance before the due date, you can effectively reduce your interest rate, but this will cost you money. You should also note that if you do not pay your bill off by the due date, you will incur a late payment fee.

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You may also incur monthly service fees for accessing your MasterCard debit cards online. You may find that some banks charge a monthly service fee for making online purchases. You may also have to pay a fee if you send a check to the bank with your card in it. There are also ATM fees, although these typically occur when you use your cards at a participating location rather than at your bank.

As you can see, there are numerous fees you will incur with these cards, and you should always shop around to find the lowest rate. Many banks offer special deals that can save you more money on your transactions if you use them at their bank instead of at other institutions. If you choose the MasterCard debit card at your bank, you will not only be able to enjoy the convenience of cashless living, but you may also save money.

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