Temporary Debit Card—A Convenient Short-Term Payment Solution
Debit cards remain one of the most sought-after payment methods worldwide. In 2022, the global debit card market share was $93.23 billion—a 3% growth from the previous year.
To make this payment method even more convenient, some issuers let you use your debit card before your physical card arrives, which typically takes from a few days to two weeks. These temporary debit cards can be activated immediately after the approval of the actual account or debit card and used for most in-person and online payments.
This article breaks down temporary debit card benefits and limitations by answering the following questions:
- What is a temporary debit card?
- How can you get and use one?
- What banks offer this product?
Keep in mind that the provided data is valid as of July 2023. Refer to official bank websites for the latest updates.
What Is a Temporary Debit Card?
Source: Mohamen Hassan
A temporary debit card is a digital card that can be used while waiting for a physical debit card to arrive (which may take up to two weeks in some cases). The temporary bank card has a card number, expiration date, security code, and sometimes a PIN. While some banks offer it in physical form, it’s usually digital.
You should be able to use your temporary digital debit card for online and in-person shopping, booking hotels and flights, or other transactions which support card payments. Still, the card may be subject to restrictions, such as allowing purchases from select merchants only.
You might hear the term “temporary cards” in the context of virtual cards or prepaid cards. However, despite sharing some similar features, these are separate financial products. Temporary cards are stand-ins for actual debit cards, while virtual cards offer additional benefits and do not come in physical form. On the other hand, prepaid cards are preloaded and can be used for transactions until the balance is depleted.
The Pros and Cons of a Temporary Debit Card
Familiarize yourself with the advantages and disadvantages of temporary debit cards in the following table:
