A Visa debit card takes all the cost but none of the convenience out of credit card use. The card offered by Savings and Loans has the security protection and worldwide acceptance you want in a credit card. But, this card drafts your transactions right out of your bank account so you never spend any money on interest.
The Savings and Loans Visa debit card can be used to purchase almost anything. Most people are used to the convenience of credit cards. They know that whenever they travel, it is very likely that their card will be accepted at almost anywhere they go. This convenience is a big part of why credit cards have become so popular. No one wants to risk carrying lots of cash because if you lose it there is no way to replace it. With credit cards you usually have protections against fraud and can cancel your card if it is lost or stolen.
A Savings and Loans Visa debit card offers you all of this convenience and protection, but with none of the high costs normally associated with credit cards. Between annual fees, interest, and penalties the cost of owning and using a credit card is quite high. The reason that card issuers charge these fees is that they are actually giving you a small loan each time you swipe your card. When you use a Visa debit card you are not borrowing money, it is simply withdrawn from one of your accounts. No fees, no interest, just spending your money in the most convenient way.
Your debit card can be linked to any number of Savings and Loan accounts. Some of your choices include the Everyday account, the Retirement and Pension account, the Cash Manager account. You can even choose to have it draft from the Loan Offset that goes with your mortgage or the Line of Credit offset against a property.
Along with all of that savings, a credit union can give you even more bang for your buck. Credit unions are not owned by shareholders, instead they are owned by their members. Because of this they have less concern for profits to be paid to shareholders and are able to pass that savings on to the members through lower fees and better customer service. Savings and Loans is one of the largest credit unions in Australia so you can bet that they know how to save members loads of money.
As you would expect, your Visa debit card comes equipped with advanced chip and pin technology. This requires you to punch in a PIN code when you make transactions. This is one of the most advanced anti-fraud protections available and by 2015 will be on all Australian credit and debit cards. You can also use this card anywhere Visa is accepted including online or telephone purchases. You get all those benefits and no interest costs, just your money from your own bank account.
