Why use debit cards instead of cash?

By Ruwandi Gamage

Did you know that according to data from the Central Bank of Sri Lanka, over 17 million Sri Lankans use debit cards for their financial transactions? If you thought cash was a better option than debit cards, here are seven reasons that could change your mind...

1. Convenience of use and hassle-free transactions

You don’t have to fumble for cash in your pockets or struggle with change. The debit card is a solution for this problem because when you pay with your debit card you can pay the exact amount, and with more and more businesses now offering the option of debit card payments, it’s more convenient than ever.

2. Improved security features 

Although some consumers might be sceptical about debit card payments being less secure than cash because of identity theft or fraud cases, technology has greatly improved the security features for debit card purchases. 

For example, you can now easily set a purchase or cash withdrawal limit to your debit card. Also, when you are performing an e-commerce transaction, you will be getting an OTP (One Time Password) further ensuring the security of the card.

If you are registered with the Sampath SMS Alertz facility, you will receive SMS notifications to your mobile phone each time you make a purchase or transaction, so that you’ll always be alerted when any transaction is being made.

3. Merchants worldwide accept debit cards

You can use your Sampath Debit Card with Visa or Mastercard not only at local stores, but also when you travel overseas. While it isn’t advisable to have too much cash on you, for the fear of losing your wad of foreign notes while enjoying the exotic scenery, having your own debit card that is accepted by stores around the world is such a convenience.

4. Enjoy special discounts and privileges

Shopping with cash doesn’t always guarantee you savings, but Sampath Debit Card often offers special discounts and privileges when you shop at selected shops and eateries anytime. During this festive season Sampath Debit Cards offer a huge range of offers on retail, fashion and even dining.

5. Can easily track the flow of money

Every purchase, transaction or even a withdrawal you make from the Sampath Debit Card gets automatically and digitally updated, giving you the security of having a report of your money spending. You wouldn’t have to memorise or even be at the risk of being scammed for not having receipts for any transaction. Cash is just taken from your bank account in near real-time when purchases occur.

6. Easy to acquire and maintain

Anyone who opens a Sampath Bank account can obtain a debit card from any Sampath branch island wide, including super branches that are open 365 days. The good news is that an account holder can receive the card no sooner he/she opens the account, without a waiting period. Once you have your Sampath Debit Card, you never have to deal with a bill. You can simply obtain a monthly statement to look over and then file, no mailing or schedule payments necessary. 

In case of a lost card, you can simply stop the card by calling 011 2 30 30 50 and go for a new card.

7. Know your account balance before you use your Card

If you give a missed call to 0112 30 30 80, in less than a minute you will get to know exactly how much is there in your Sampath account. This will save you the trouble of deciding whether you have enough cash to buy your favourite item of your choice without having to compromise.

Need no more hassle in life with cash? Simply switch to a debit card today!