Can someone explain

Harry82 · 1 Can someone explain Sun Aug 05, 2012 8:07 am

Harry82

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can someone explain
On what basis a credit card and debit card is issued?

Is it possible to use debit/ credit card overseas while a person has only Sri lankan rupee on his bank account?

K.Haputantri · 2 Re: Can someone explain Sun Aug 05, 2012 8:18 am

K.Haputantri

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As far as I know, any adult who has no adverse credit rating can obtain a credit card. Maximum credit limit for a credit card will be decided by the issuing bank based on your annual income. You need to have funds in your account for a debit card.

Certain banks allow use of their credit/debit cards abroad subject to certain limits imposed by the CB. You need not have foreign currency account for this purpose. Check with your bank for specific details.

vikii · 3 Re: Can someone explain Sun Aug 05, 2012 11:33 pm

vikii

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I used a commercial bank visa debit card in india to get indian rupees directly from an ATM there.
Each transaction cost less than SLRs.500/-(as i remember). So, large sums are cheaper than HSBC Credit cards.

Harry82 · 4 Re: Can someone explain Mon Aug 06, 2012 8:22 am

Harry82

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Really

Slstock · 5 Re: Can someone explain Mon Aug 06, 2012 8:29 am

Slstock

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As the question on Credit card has been answered let me say about debit from my knowledge.

As long as your local bank issues a debit card with an international acceptance ( VISA, Cirrus network etc) you can use it in any country to withdraw. But you will have daily withdrawal amount depending on the bank ( Rs 40000 to Rs 80000 usual unless special arrangement is made). ALso there will be ATM and currency exchange fees when you withdraw from abroad.