Despite the dangers of card theft and fraudulent transactions, debit cards are one of the safest alternatives to cash. There are many reasons for this, some of which are designed into the debit card contract and aren’t immediately obvious.

When it comes to money, you’re everyday options are defined into three products. Credit cards, cash or debit cards. While all three options have their clear advantages and drawbacks, if you’re managing your everyday spending there’s really only one clear winner.

Cash or card? You decide

One important difference between debit cards and cash is that a debit card is generally easier to conceal. Cash is usually stored in one place, a purse in a handbag or a wallet in a pocket. In short, it’s easy to identify and hard to hide, and many thieves are practiced in simply grabbing cash, purse, or wallet quickly.

Once stolen, cash is gone, but a debit card can be cancelled and replaced with little actual cost to the card holder, a significant advantage. As soon as the card holder becomes aware of the theft, they can login to their banking app and immediately lock it. This makes it impossible to use the card and protecting the funds in the account.

Although waiting for the replacement card to arrive can be a strain under some circumstances, for example during an international holiday, it’s still better than the irrevocable loss of cash. If your bank has digital cards available, your new card could be in your digital wallet sooner than you think.

As well, if the card holder isn’t certain whether the card has been stolen or merely misplaced, a temporary stop can be placed on the card instead. The account funds will still be protected, and if the card is recovered can be reactivated without delay.

Zero liability protections

Another significant security advantage of debit cards over cash is the zero liability guarantee from the card provider. Such a guarantee means that if any unauthorised transactions are made with the debit card, the card holder will not be liable for them under many circumstances. This guarantee is provided by most debit cards, although it won’t be activated if the bank is not warned in good time the transactions are fraudulent.

Clear benefits when travelling

Finally, the security provided by debit cards can be particularly useful when going abroad. If you’re travelling debit cards are one of the first things you should pack. Some debit cards offer no foreign transaction fees and included insurances, so you could save money on fees. Debit cards are widely accepted and they are a good deal safer than puzzling over foreign currency in public.

A clear choice to use debit cards

After comparing all the options, it seems to make sense to carry your debit card. You can keep track of your money with your providers app and also take advantage of the security they offer. Compare the features of your current debit card with some of the offers in the market to make sure you’re getting the most out of your card based on your needs.