Debit cards are a necessity in the world of contemporary banking as individuals used to conduct frequent financial transactions and using debit cards to access funds and make online payments is a widespread habit for people all over the world.
All banks charge fees for debit cards, but they enable go-to electronic transactions that simplify shopping online, paying bills, and transferring money electronically. Meezan Bank debit card annual fees 2024 will increase from January to June 2024.
Also Read: Apply for Meezan Bank Branch Services Officer (Cashier) Jobs 2023
The following is the updated Schedule of Charges (SoC) for Meezan Debit Cards:
- The Visa Infinite Debit Card has an annual fee of Rs. 26,000 plus FED.
- The annual fee for the Mastercard World Debit Card is Rs. 15,000 plus FED.
- The annual fee for the Visa Platinum Debit Card is Rs 5,500 + FED.
- For Premium Customers, there is no charge for the Mastercard Platinum Debit Card.
- The annual fee for the Mastercard Titanium Debit Card is Rs 3,500 plus FED.
- The annual fee for the Visa Gold Debit Card is Rs 2,500 plus FED.
- The annual fee for the Visa Women First Debit Card is Rs 2,100 + FED.
- Similarly, there is an annual fee of Rs. 2,100 plus FED for both the Visa Classic Debit Card and the Mastercard Classic Debit Card.
- The annual fee for the Paypok Debit Card is Rs. 1,600 plus FED.
Difference Between a Debit Card and a Credit Card:
While both debit and credit cards are popular forms of payment, they operate differently and have different benefits.
With a credit card, the user has access to a line of credit with a fixed limit; the amount is effectively a short-term loan from the credit card company. You can borrow money from the bank using a credit card, but you have to pay it back by the deadline to avoid paying interest.
Conversely, when you use a debit card, which is connected to your bank account, you are using direct funds. Debit cards don’t offer a line of credit, in contrast to credit cards. Only the funds that are in your account are available for spending.
