How to Transfer Money Online Using a Debit Card

Find easy ways to transfer money using your debit card. A guide to secure and convenient money transfers for all users.
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How to Transfer Money Online Using a Debit Card
2 mins read
7 January 2025

In today's digital age, transferring money online using a debit card has become a convenient and secure way to send funds to friends, family, or businesses. Whether you need to split a bill, pay for services, or send money to loved ones, online money transfer using a debit card offers a hassle-free solution.

This article will guide you through the steps of transferring money online using a debit card and highlight the benefits of this method.

Steps to transfer money online using a debit card

  1. Select a reliable online payment platform: Choose a trusted online payment platform that supports debit card transactions. The Bajaj Finserv BBPS platform is one of the most safe and secure ways to send money using debit card.
  2. Create an account: Sign up for an account on the chosen online payment platform. Provide necessary details such as your name, email address, phone number, and banking information to link your debit card.
  3. Verify Your identity: Many online payment platforms require users to verify their identity for security purposes. This may involve providing additional documentation or undergoing a verification process.
  4. Link your debit card: Add your debit card details to your account. You will typically need to enter the card number, expiration date, CVV code, and billing address associated with the card.
  5. Add funds to your account: Ensure that there are sufficient funds in your bank account linked to the debit card. Some platforms may require you to add funds to your account balance before initiating a transfer.
  6. Select recipient: Enter the recipient's details, such as their email address, phone number, or username. Double-check the information to avoid sending money to the wrong recipient.
  7. Enter transfer amount: Specify the amount you wish to transfer.
  8. Review and confirm: Before completing the transfer, review the transaction details, including the recipient's information and the transfer amount. Once you are satisfied, confirm the transaction to initiate the transfer.
  9. Receive confirmation: After successfully completing the transfer, you will receive a confirmation notification confirming the transaction. You can also track the status of your transfer through the online payment platform.

Transfer money online using a debit card via UPI

Unified Payments Interface (UPI) has revolutionised the way we transfer money in India. Using a debit card to set up and use UPI is straightforward:

  1. Download a UPI app: Install a UPI-enabled app like Google Pay, PhonePe, or Paytm on your smartphone.
  2. Register and link your bank account: Open the app and register using your mobile number linked to your bank account. Follow the prompts to link your bank account.
  3. Set up UPI PIN: Enter your debit card details to set up a UPI PIN. This PIN will be used to authenticate transactions.
  4. Initiate transfer: To send money, select the 'Send Money' option, enter the recipient's UPI ID or scan their QR code, enter the amount, and confirm the transaction using your UPI PIN.

Transfer money online using a debit card via Wallet

Digital wallets offer another convenient way to transfer money online using a debit card:

  1. Add money to wallet: Open your preferred wallet app like Paytm, Mobikwik, or Amazon Pay. Log in and navigate to the 'Add Money' section.
  2. Enter debit card details: Select the option to add money using a debit card. Enter your card details and the amount you wish to add.
  3. Authenticate transaction: Complete the transaction by entering the OTP sent to your registered mobile number.
  4. Transfer money: Once the money is added to your wallet, you can transfer it to another bank account or UPI ID by selecting the 'Send Money' option and entering the recipient's details.

How to transfer money using a debit card at an ATM

Transferring money using a debit card at an ATM is a simple process:

  1. Visit an ATM: Go to an ATM that supports fund transfers.
  2. Insert debit card: Insert your debit card into the ATM and enter your PIN.
  3. Select fund transfer option: Choose the 'Fund Transfer' option from the menu.
  4. Enter beneficiary details: Enter the beneficiary's bank account number and select the type of account (savings or current).
  5. Enter amount: Enter the amount you wish to transfer and confirm the transaction.
  6. Complete transaction: The ATM will process the transfer, and you will receive a confirmation receipt.

Benefits of online money transfer using debit card

  • Convenience: Online money transfer using a debit card offers unparalleled convenience. You can initiate transfers anytime, anywhere, as long as you have access to the internet and your debit card details.
  • Speed: Unlike traditional methods such as checks or bank transfers, which may take several days to process, online money transfers using a debit card are usually instantaneous or take only a few business days to complete.
  • Accessibility: Debit cards are widely accepted and can be used for online transactions across various platforms and websites. This accessibility makes it easy to send money to individuals or businesses regardless of their location.
  • Security: Online payment platforms prioritise the security of transactions, employing encryption and other security measures to protect users' financial information. Additionally, many platforms offer buyer protection and fraud detection features to safeguard against unauthorised transactions.
  • Cost-effectiveness: Sending money online using a debit card is often more cost-effective than alternative methods such as wire transfers or money orders. Many online payment platforms offer low or no fees for domestic transfers, making it an affordable option for sending money.
  • Flexibility: Online payment platforms offer flexibility in terms of transfer options and payment methods. In addition to debit cards, users can also link bank accounts, credit cards, or digital wallets to their accounts for added convenience.

Conclusion

Transferring money online using a debit card is a simple, secure, and efficient way to send funds to individuals or businesses.

By following the steps outlined in this article and leveraging the benefits of online payment platforms, you can easily manage your finances and streamline your transactions with ease.

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

Is it safe to send money online using a debit card?

Yes, it is generally safe to send money online using a debit card, provided you follow certain precautions. Here are some tips to ensure safety:

  1. Use secure websites: Always use trusted and secure websites for transactions. Look for the padlock symbol in the address bar and ensure the URL starts with "https".
  2. Monitor your accounts: Regularly check your bank statements for any unauthorised transactions and report them immediately to your bank.
  3. Enable alerts: Set up transaction alerts with your bank to receive notifications for any activity on your account.
  4. Use multi-factor authentication (MFA): Enable MFA for an added layer of security when accessing your online banking or payment apps.
  5. Avoid public Wi-Fi: Do not conduct financial transactions over public Wi-Fi networks, as they are more susceptible to hacking.
How long does it take for the money to reach the recipient?

The time it takes for the money to reach the recipient can vary depending on the method used:

  1. UPI transfers: UPI transfers are typically instant, with the money reaching the recipient's account within seconds.
  2. Wallet transfers: Transfers to digital wallets are also usually instant, but it may take a few minutes in some cases.
  3. Bank transfers via debit card: If you are transferring money directly to a bank account using your debit card, it can take anywhere from a few minutes to a few hours, depending on the bank's processing times.
  4. ATM transfers: Transfers made using a debit card at an ATM can take a few minutes to process, but the exact time may vary based on the bank's network.
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