Normally, you can visit the bank teller to withdraw a large sum of money. But, what do you do when the bank is closed for the night? Or, what if you use an onlinebank and your only way to withdraw cash is through ATMs?
Certain merchants, usually supermarkets and convenience stores, allow shoppers to get cashback when they pay with a debit card.
The cashier will charge the requested cashback amount in addition to the items purchases, and hand you the cash. For instance, if you buy $15 worth of groceries and ask for $20 in cashback, the cashier will charge $35 to your debit card and give you $20 in cash.
Each store may have a limit on how much cashback you can get. However, you can just go to another store and get morecashback.
Debit cards can be used to withdraw cash at an ATM and they can be used to make purchases. Again, fraudsters can use stolen debit cards to empty a bankaccount or perform a large number of unauthorized purchases.
However, the daily limits for these two types of transactions are different. The daily limits for debit card purchases tend to be significantly higher.