Li-Fi vs Wi-Fi: A Battle of Light and Waves Li-fi is a light fidelity device that supports only the infrared and other lighting systems to transfer the data to the device which is used to receive from the sender device. Wifi is a wireless fidelity device that supports the radio waves to transfer the data to the wifi device which is used to receive the wifi signals at the limited ranges due to the device version capacity. Introduction to the computer system and computer applications related topics are listed following below here: Li-Fi vs Wi-Fi: A Battle of Light and Waves Let’s discuss the computer system related topic and questions above listed and their answers are following below here: Li-Fi vs Wi-Fi: A Battle of Light and Waves There are some points on the computer system and data communication related to the topic of “Li-Fi vs Wi-Fi: A Battle of Light and Waves” following below here: Lifi based data communication system:- Li-Fi is a light based signal data transmission ...
What do you mean by cheque and debit card? Introduction of what do you mean by cheque and debit card topics covered following below; What do you mean by cheque and debit card? What are the differences between debit cards and cheque cards? What are the limitations of cheque cards and debit cards? What are the comparisons between cheque cards and debit cards? What are the advantages of cheque cards and debit cards? What are the disadvantages of cheque cards and debit cards? What are the components of cheque cards and debit cards?
What do you mean by cheque and debit card?
Introduction of what do you mean by cheque and debit card topics covered following below;
What do you mean by cheque and debit card?
What are the differences between debit cards and cheque cards?
What are the limitations of cheque cards and debit cards?
What are the comparisons between cheque cards and debit cards?
What are the advantages of cheque cards and debit cards?
What are the disadvantages of cheque cards and debit cards?
What are the components of cheque cards and debit cards?
Let's discuss about some topics about the cheque cards and debit cards below here:
What do you mean by cheque and debit card?
Cheque cards
Cheque card is a payout card of money from your bank.
Cheque is a card that is processed by the particular bank.
Every bank has a different format of cheque card.
Cheque has a unique code which is known as magnetic ink characters printed below in a box.
Debit cards
Debit card is an electronic card which is used to make payments and receive payment.
The debit card is just like an ATM card.
You can withdraw your amount or money from an ATM by using debit cards where ATM stands for "Automated Teller Machine".
Debit card has a unique pin code printed on the card which is used to connect with payment applications for online transactions such as UPI. In today's the online payment is the most important part of our life because it saves us from coronavirus. The online payment is known as to make payment without touching any type of cash.
What are the differences between debit cards and cheque cards?
There are some differences between cheque and debit card following below:
Cheque
Cheque is used to withdraw your amount from your savings account.
Cheque is used to make a payment to another person's account.
Cheque is verified by a manual process.
It is used to verify by the magnetic code printed on the cheque card. The code is scanned by the MICR machine.
It is not a plastic card, it is a paper card.
Debit card
Debit card is used to withdraw your amount from a savings account through a bank withdraw machine such as an ATM.
Debit card is used for online transactions and sent to another person's account by entering some pin codes and their passwords.
Debit cards are verified by pin codes and their magnetic strip hidden codes printed on the card. When you swipe the card on the swipe machine it verifies your identification of your account through magnetic strip codes.
It is a plastic card which is connected directly to your savings account.
What are the limitations of cheque cards and debit cards?
Cheque cards
Cheque card is a manually processed card which is not used for online payment transactions.
You can wait for the withdrawal of your amount because the cheque withdrawal amount process is manual.
Without you another person cannot withdraw your account by your permission with a signature and verification in the bank by manually process.
Debit card
Debit cards have a limited amount of payments in online transactions such as classic cards have minimum limits according to time and amount limits.
Some Debit cards have a maximum limit according to time and amount limits for transactions.
You can withdraw your amount by using an ATM as fast as you can but there is also a limit for withdrawing your money for classic cards. You can withdraw 4 times in a month with a limited amount of 25000 to 30000 as per bank conditions given to you.
What are the comparisons between cheque cards and debit cards?
You can withdraw your money with a cheque and debit card in a different way.
You can pay for other people to their account but in a different way.
Both have a unique code to identify your account details.
Both are important cards. If you lost it then the bank can apply a penalty on you with some charges.
What are the advantages of cheque cards and debit cards?
Advantages of Cheque card
The bank provides you cheque book. The book in which there are so many cheque cards available to withdraw or pay to others.
In the Cheque card name is printed.
Cheque is verified by a single magnetic code which is printed on the card.
You can just sign in your cheque and enter your amount then withdraw your amount quickly.
Advantages of Debit card
The debit card is for online transactions which is mostly safe in the world with a high network security.
It is very fast to pay for other people who have a market or retail shop.
It has maximum limits such as you can pay upto 150000 at a time by smart card.
You can swipe cards on the machine and pay quickly.
What are the disadvantages of cheque cards and debit cards?
Disadvantages of Cheque card
If you lost a cheque at a time you have lost your money because you had a signature on the cheque card and some amount.
You have to wait to withdraw your amount in a bank because the cheque card processing is a manual process.
Disadvantages of Debit card
If you lost your password in your memory you cannot make a payment for items and products or any type of payment.
If the magnetic strip is damaged then your card is not able to make a payment.
Sometimes bank's servers are busy, in case you can wait to make a payment during online transactions.
If you lost your Debit card then you will have to deactivate it by submitting an application for deactivation of your debit card in a bank.
What are the components of cheque cards and debit cards?
Components of Cheque cards
It has a unique magnetic code which is scanned by a MICR machine.
It has printed the account user name.
It has a printed account number of the account user.
It has a bank name mentioned in the card and the location of the bank.
Cheque needs to be verified by the phone number of the account user.
It has a stamp section of the bank.
Components of Debit card
Debit card has a magnetic strip and hidden codes.
Debit card has its own pin number mentioned on the card.
It has a category of cards such as classic to master.
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