Are Walrus cards safe?

Walrus is a digital-only banking platform for teenagers aged 13 and upwards. Its services can be used by anyone up to the age of 22. The platform provides them a secure and “Gen Z-like” banking solution that helps them to manage their money.

What is the use of walrus card?

Walrus becomes India’s first Neobank to introduce this special feature in a card. Issued by RBL Bank, this card is a Prepaid Card powered by Mastercard and can be used at any retail store in their neighborhood and for making online purchases at merchants like Flipkart, Amazon, etc.

Which debit card is most accepted?

We compared the merchant acceptance of the four major global card payment networks — American Express, Discover, MasterCard, and Visa — and found that Visa and MasterCard have the highest number of merchants on their networks.

What are bad things about debit cards?

Cons of debit cards

• They have limited fraud protection.
• Your spending limit depends on your checking account balance.
• They may cause overdraft fees.
• They don’t build your credit score.

Is Walrus a good app?

The Walrus app is easy to use and the features are excellent. The KYC was done quickly and I made my first transaction as well. The rewards are great too!

Which debit card gives best offers?

Here are the top 5 banks to offer such debit cards to customers.

1. ICICI Bank Debit Cards. ICICI offers a wide selection of debit cards which are ideal for online shopping.
2. HDFC Bank Debit Cards. Another leading bank to offer debit cards is HDFC.
3. Axis Bank Debit Cards.
4. Yes Bank Debit Cards.
5. IndusInd Bank Debit Cards.

Is it better to be in credit or debit?

Credit cards offer better consumer protections against fraud compared with debit cards linked to a bank account. Newer debit cards offer more credit card–like protection, while many credit cards no longer charge annual fees.

Is having too many debit cards bad?

There’s no rule against having multiple debit cards, though having more than one checking account makes your financial life more complicated. Just make sure your main debit card and checking account — the bread and butter of your banking life — work for you.

What is FamPay card?

The IDFC FIRST Bank FamPay Prepaid Card – offered by IDFC FIRST Bank and marketed and distributed by FamPay, is a Prepaid card and wallet solution to drive the smart generation from cash to digital. Key Features. Teenagers can apply for IDFC FIRST Bank FamPay Co-Branded Prepaid card basis consent from parents.

Can a 12 year old use FamPay?

With FamPay and its numberless Visa card, minors can do online and offline payments safely without setting up a bank account. It was developed by IIT Roorkee graduates, FamPay targets to bring 250M+ teenagers on a journey from cash to digital while motivating early financial support through practical experience.