Adelaide Bank: Visa Debit Card Paves Path To Financial Freedom

In addition to our love of cold beer, lamingtons and public holidays, we are a plastic-loving nation. Unfortunately, current figures suggest credit card debt is becoming an increasing problem across the country, as Australians continue to out-spend their income and rely on the help of credit cards.

If you have been burning the plastic lately, it's important to take steps to master your spending before your debt gets out of control. Banks and lenders make a lot of money from credit card interest charges and fees, but they are also finally seeing a need to provide customers with an alternative way to spend hard-earned cash.

Adelaide Bank has introduced a Visa Debit card, which gives customers the convenience of a credit card without the risk of creating further debt.

The Adelaide Bank Visa Debit card works by allowing you to access your own funds, instead of using credit to fill the gap between what you have and what you would like to spend. This means you have to be disciplined with your spending, but you have the peace of mind of knowing that your purchases won't cost you extra in interest charges.

Adelaide Bank customers can use their Visa Debit cards in the same situations as a credit card can be used for example over the phone to make purchases or payments, when shopping online, and at the till with retailers who accept credit cards.

The Visa Debit card can also be used to withdraw cash from ATMs. Credit cards usually carry hefty fees for withdrawing cash, but as the Adelaide Bank Visa Debit card taps into funds already in your transaction account, no cash advance fees apply. Of course, if you are using a non-Adelaide bank ATM in a city or town that has Adelaide Bank ATMs, the usual foreign ATM fee of $2 will apply.

Visa Debit cards are available to approved Adelaide Bank customers and conditions apply. Using your own money means that you won't receive a bill at the end of each month, so you can more efficiently budget your money for investments and assets that will help you to increase your wealth rather than your level of debt.