debit card issued by a bank allowing the holder to transfer money electronically to another bank

account when making a purchase.debit card is a plastic payment card that can be used instead of
cash when making purchases. It is similar to a credit card, but unlike a credit card, the money
comes directly from the user's bank account when performing a transaction.

In many countries, the use of debit cards has become so widespread that their volume has
overtaken or entirely replaced cheques and, in some instances, cash transactions. The
development of debit cards, unlike credit cards and charge cards, has generally been country
specific resulting in a number of different systems around the world, which were often
incompatible. Since the mid-2000s, a number of initiatives have allowed debit cards issued in
one country to be used in other countries and allowed their use for internet and phone purchases.

Unlike credit and charge cards, payments using a debit card are immediately transferred from the
cardholder's designated bank account, instead of them paying the money back at a later date.

Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for
withdrawing cash. Merchants may also offer cashback facilities to customers, where a customer
can withdraw cash along with their purchase.

There are currently three ways that debit card transactions are processed: EFTPOS (also known
as online debit or PIN debit), offline debit (also known as signature debit) and the Electronic
Purse Card System. One physical card can include the functions of all three types, so that it can
be used in a number of different circumstances.

The Advantages of Debit Cards

1. Extremely Convenient
The biggest draw for debit cards is how simple they are to use. Since the payment is taken
directly out of your bank account, where the money already exists, it can be done instantly. This
is much faster than having to wait for a credit transaction to go through, or having to worry about
having enough cash to cover your expenses. It is especially faster than writing out a check, which
many people no longer take.

2. It’s A Cash Card Too

Sure, debit cards are nice, but sometimes cash is a necessity. If you are going garage sale-ing or
to the flea market, you may have to have cash to make the purchases that you want to. Debit
cards still have the ability to give you cash, you can take them to an ATM and use them there to
withdraw the cash. In addition to ATM use, the majority of stores offer cash back options at
checkout.

3. Your Pin Protects You

Debit cards are protected by a four digit pin number that you set yourself. This pin is needed to
make almost any purchase with your debit card. This gives you a great deal of protection against
theft. These cards can also be canceled very easily and quickly, so if you lose it, you can prevent
anyone from being able to do any damage.
4. Anyone Can Have One
The only thing that you must have to have a debit card is have a bank account. Anyone can open
a bank account with a small minimum deposit. This makes debit cards much different than credit
cards, because approval for a credit card largely depends on your credit score and payment
histories. None of these things are taken into account when getting a debit card.

5. Strong Budgeting Tool

One of the best things about a debit card is that you cannot spend more money than you have,
which means you cannot go into debt. This helps you to only spend the money that you have to
spend because you cannot accumulate new debt, like with credit cards.

The Disadvantages of Debit Cards

1. Your Credit Score Isn’t Helped

A person’s credit score impacts them for their entire life, whether it be negative or positive. With
a debit card, you do not impact your credit score at all, which means that you cannot build it up.
Having a higher credit score gives you lower interest rates and increased lines of credit.

2. Fees Galore
When you have a debit card, fees are likely a part of your life as well. Banks inflict a wide
variety of different fees to debit card holders, which can add up very fast. Some of these include
monthly use charges, major overage fees, and transaction fees or limits.

3. Instant Money Means Instant Risk

If someone got a hold of your debit card, they would be able to take money directly from your
bank account. With a credit card, the charges are much easier to dispute, and they do not
interfere with your direct lines of income the way that debit cards do.

4. Merchant Blocks
Depending on where you are using your debit card, or what you are buying, the merchant can put
a “hold” on your money. For example, if you are filling your tank up with gas, the gas station
will likely put a hold up to 100 dollars on your card, this is because they want to ensure that you
have the funds to pay for the gas before you pump it. The bank can take up to 48 hours to free
this money up again.

A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a
merchant for goods and services, based on the cardholder's promise to the card issuer to pay
them for the amounts so paid plus other agreed charges. The card issuer (usually a bank) creates
a revolving account and grants a line of credit to the cardholder, from which the cardholder can
borrow money for payment to a merchant or as a cash advance.
Advantages of using a credit card

Some of the perks of paying with plastic include:

1. A credit card is safer than carrying cash. While there’s only a small chance of having lost
or stolen cash returned, a credit card can quickly be cancelled if you lose your wallet.
Most financial institutions also have security processes in place to protect you if your
card has been lost or stolen or if you suspect your account has been used for a fraudulent
transaction.
2. A credit card can build your credit rating. Your credit card account details and payment
history make up a key part of your credit file. If you keep your account in good standing,
this information will help you build up a good credit score, which could increase your
chances of approval for other products such as car loans or a mortgage.
3. You can get interest-free days. If you pay your balance in full before the statement period
ends, you can be rewarded with interest-free days on future purchases for a set period.
4. Earn reward points when you spend. Rewards and frequent flyer credit cards allow you to
earn reward points on every dollar you spend on eligible purchases, such as groceries and
fuel. Rewards credit cards let you earn reward points to redeem with the bank’s rewards
programs for perks including flights with partner airlines, products from the rewards store
or cash back. Frequent flyer credit cards, on the other hand, let you earn flights with
specific airline loyalty programs.
5. You can request a chargeback if you’re unhappy with a product or service. You can
request a chargeback through your credit card company if you have a dispute with a
merchant, either in-store or online.
6. Credit cards work in any currency. Although currency conversion fees usually apply, you
can use your credit card overseas to make purchases in a foreign currency. There are even
credit cards that waive fees for international purchases, which could be useful if you
often shop at international online stores or have an overseas holiday coming up.
7. Credit cards give you an emergency line of credit. Credit cards can be a financial safety
net if you don’t have enough cash or savings to cover any unexpected costs that arise.
Remember that you have to repay everything you owe, though.
8. Credit cards often have complimentary extras. Credit card features such as travel
insurance, purchase protection and extended warranty insurance can save you money and
give you peace of mind. Other value-adding features include complimentary flight offers,
airline lounge passes and even free wine when you dine.
9. You can consolidate debts and save money on existing balances. Balance transfer credit
cards allow you to move existing high-interest debts to a new account with a low or 0%
promotional interest rate. This can save you money on interest charges and help you pay
down debt faster.

Disadvantages of using a credit card

The downsides of spending with a credit card include:

1. Paying high rates of interest. If you carry a balance from month-to-month, you’ll pay
interest charges. Purchase and cash advance interest rates can be as high as 22% p.a., so
 you can end up paying hundreds or thousands more than you initially charged in interest
if you’re unable to make repayments each month.
2. Credit damage. Missed credit card repayments and ongoing debts are recorded on your
credit file and can impact your chances of getting a loan down the track. See our guide on
how to improve your credit file for some tips.
3. Credit card fraud. There are a range of fraud schemes that target credit cards. While you
can be compensated for illegal transactions on your account, dealing with credit card
fraud can still be a time-consuming and stressful experience.
4. Accessing cash is expensive. Financial institutions make it very expensive to use your
credit card to get cash out or make other “cash equivalent” transactions (such as buying
foreign currency or gambling). Using a credit card for a cash withdrawal will attract a
cash advance fee worth around 3% of the total transaction amount. It also typically
attracts an interest rate of 19-22% right away.
5. Annual fees. While you can often get debit cards without annual fees, most credit cards
have them. These can cost as little as $25 per year, or as much as $1,200 depending on
the card that you choose. Generally, the more perks you want, the higher the annual fee.
If you want to avoid this charge, you can consider a no annual fee credit card – but make
sure you look at all the other features to help find a card that works for you.
6. Credit card surcharges. Businesses often apply a surcharge when you pay with a credit
card. For Mastercard and Visa products, this fee is usually 0.5-2% of the total transaction
cost, while for Amex cards it could be closer to 3%. Whatever the case, this is an extra
cost for the convenience of paying with plastic.
7. Other fees can quickly add up. Depending on your card, you could be charged fees when
you miss a payment, fees if you spend past your credit limit, fees for overseas
transactions, balance transfer fees and even some rewards programs fees. If you carry a
balance or don’t have access to interest-free days, there’s also a good chance interest will
be applied to these charges.

Debit Cards vs Credit Cards

In the past many people felt that you needed a credit card to complete certain transactions such
as rent a car or to purchase items online. They also felt that it was safer and easier to travel with a
credit card rather than carrying cash or trying to use your checkbook. However debit cards offer
the same convenience without making you borrow the money to complete the transactions. It can
be difficult to determine when to use a credit card or a debit card. Some argue that a credit card
offers additional insurance on purchases and makes it easier to request a refund or a return. You
should carefully read the disclosure information for your credit card to understand the benefit.

The Rampal power station is a proposed 1320 megawatt coal-fired power station at Rampal
Upazila of Bagerhat District in Khulna, Bangladesh. It is a joint partnership between India's state
owned National Thermal Power Corporation and Bangladesh Power Development Board. The
joint venture company is known as Bangladesh India Friendship Power Company (BIFPC). The
proposed project, on an area of over 1834 acres of land, is situated 14 kilometres north of the
world's largest mangrove forest Sundarbans which is a UNESCO world heritage site. It will be
the country's largest power plant.

The Rampal power plant would cause at least 6,000 premature deaths and low birth weights of
24,000 babies during its 40-year life, a Greenpeace study said yesterday.

It said the plant, which would burn 5 million tonnes of coal every year, would be among the
largest sources of air pollution in the country.

The emissions would elevate the levels of toxic particles, sulphur dioxide and nitrogen dioxide
over the entire south-western Bangladesh and 100km to the northeast due to prevailing wind
patterns.

The affected areas, due to wind patterns, would cover the entire Sundarbans ecosystem, Satkhira,
Khulna, Noakhali, Comilla, Narsingdi and Dhaka districts in Bangladesh and Ashoknagar,
Kalyangar, Basirhat and Kolkata of West Bengal, it said. 

"Exposure to these pollutants increases the risk of diseases such as stroke, lung cancer, heart and
respiratory diseases in adults, as well as respiratory symptoms in children," it said.

"This would happen even if Bangladesh currently had zero air pollution," said Lauri Myllyvirta,
coal and air pollution specialist of Greenpeace, in a presentation via Skype from Myanmar.

The presentation was made at a press conference organised by National Committee to Protect the
Sundarbans (NCPS), Bangladesh Paribesh Andolon (Bapa) and Doctors for Health and
Environment (DHE) at the city's Dhaka Reporters Unity to unveil the study.

India's state-owned National Thermal Power Corporation and Bangladesh Power Development
Board are constructing the 1,320 megawatt plant on 1,834 acres 14km north of Sundarbans, the
world's largest mangrove forest, also a Unesco world heritage site.

Green groups have been opposing the power plant in Rampal of Bagerhat. The UN too urged
Bangladesh to halt its construction near the Sundarbans, which acts as a natural barrier against
cyclones. 

The government, however, has been going ahead with the project, saying it was using the best
technologies available to prevent any possible damage.

Contacted, Nasrul Hamid, state minister for power and energy , disagreed with the Greenpeace
findings.

The plant would surely emit pollutants, but not as much as that could lead to the damage claimed
by Greenpeace, he said. 
"They [green activists] are not experts. They make claims as they wish. They don't study based
on exactly what we are doing and how," Nasrul told The Daily Star over phone.

He said the government could not avoid coal-fired power plants. "We don't have options. We
have to have mixed sources of power to make it affordable to people," he said, calling upon
green activists to sit with the relevant government officials to get the "real picture".

Greenpeace said it conducted the study using the modelling systems recommended by the US
Environmental Protection Agency (EPA) and World Health Organisation (WHO) in assessing
long range transport of pollutants and results of their exposures. The methodology was not
explained in details at the press conference yesterday. (Greenpeace study methodology)

Greenpeace expert Myllyvirta said the Rampal plant would increase the 24-hour average ambient
levels of nitrogen dioxide in nearby localities up to 25 percent over the current national urban
average, and sulphur oxide levels up to 50 percent over the urban average.

"Emission limits for sulphur dioxide, nitrogen oxides, dust and mercury, as specified in the
tender documents, are five to 10 times higher than best regulatory practice and technical state-of-
the-art emission levels," Greenpeace added.

The study said due to the high population density in the impact area and weak emission limits
applied for the project, the estimated health impacts were 150 premature deaths and births of 600
low-weight babies per year.

Greenpeace said the predicted number of premature deaths would drop to 50 a year if the much
stricter new Indian standards were followed. In the state-of-the art emission scenario, the
premature death would further fall to 20 cases a year.

The plant could emit high levels of mercury, a potent neurotoxin that damages children's brains
and nervous systems, and it could be sufficient to render fish unsafe to eat over an area of
approximately 70 sqkm around the power plant.

Additionally, 10,000kg of mercury discharged over the life of the plant could end up in the coal
ash pond, which is subject to flooding and poses further risks to aquatic food chain of the
Sundarbans and Bay of Bengal. This could impact millions of people who eat those fish.

NCPS Convener and rights activist Sultana Kamal said the Greenpeace study speaks of a grim
future of biodiversity and human health.

"Implementing the Rampal power project means pushing our future generation towards
disabilities and premature death. This can't happen," she told journalists, and demanded
cancellation of the plant project.

The former adviser to a caretaker government said they had repeatedly presented scientific data,
but the authorities had been neglecting those saying green activists were not experts.
"This is not true. There are experts among us," she said.

"They [government] are not providing us with correct information. They are trying to justify the
project through false propaganda," said Sultana, adding that the government was buying
machinery based on quite old technology.

DHE President Nazmun Nahar said if mercury enters the eco-system and the food chain, it would
cause mental disabilities in future generations.

The paediatrician said 48 percent children in Bangladesh were born with low weight, and they
run higher risks of diabetes and heart diseases in their adulthood.

"If the Rampal plant causes birth of more low-weight babies, it would worsen public health," she
said.

Padma Bridge is the most challenging construction project in the history of Bangladesh. With
150 m span and 6150 m total length it is going to be the largest bridge in the Ganges-
Brahmaputra-Meghna river basins of country in terms of both span and the total length. It has
considerable geo-morphological challenges due to high mica content present in the subsoil.
Scour depth of the river system is another big issue. The number of piles has been optimised
considering the scour depth at the bridge location and also to make the bridge earthquake
resistant. The base-isolation technique has been established using special types of bearings and
joints. Special care is required on this critical aspect. The river training work will be a difficult
task. At the bridge site, weather condition varies rapidly and unpredictably. The river continues
to shift its course. So, we need to carefully monitor the ever changing geo-morphology of the
river during construction and after construction as well.

In the southern region we do not have enough rail networks. The Padma Bridge will provide the
missing but essential rail infrastructure to effectively connect this region on rails. There will be
connecting railways on both sides of the bridge. The existing Dhaka-Mawa two-lane road needs
to be expanded further at the later stage of the project. The Bridge has toll plazas and service
area on both sides. The transportation mode in the bridge has been conceived in a broad context.
There will be rail lines, roads, high pressure gas transmission line and fibre optic communication
link in the bridge that will make it a multimodal combination. 

We are largely dependent on foreign countries for primary raw materials of the construction
project. This is a big constraint for us, and it increases the cost of the project. Timely completion
is another important issue. Undue delay means higher cost.

We also need to consider sustainability of the project. There is a considerable fatigue issue
related to already foreseen repetitive heavy loads on the bridge. As soon as the bridge goes into
operation we need to start close monitoring at the critical locations of superstructure. The plan
needs to be chalked out at least during construction. Corrosion is another important aspect to be
considered seriously because the area has comparably high corrosive rate. We need to deploy
necessary devices and sensors for intensively  monitoring the scour depth at each pier locations
and river training works. Overall, we are trying to enforce an international standard for the
operation and maintenance of the bridge, some of which need to be started right at the
construction phase. If we can complete the project successfully it would be a big boost for our
regional and sub-regional connectivity. And the country will enter a new era of development.

The benefit-cost ratio of Padma Bridge is very high. We will be greatly benefited from reduced
travel time. And the increased connectivity will help link the backward region with rest of the
country. It will be a great boost for the development of our agriculture and industry in the area. It
will also connect our second most important port at Mongla and industrial zone in Khulna.
Padma Bridge will provide connectivity to Asian Highway and trans-Asian railway.

The government has taken massive development programmes targeting the Padma Bridge. We
are planning to establish a high-tech park in Shariatpur. In Bagerhat we have already started
construction of an airport. The Bridge will also connect the Payra port. It will also help
decentralize the government administration. Our PM has a plan of making Faridpur a separate
division. According to economists, the Bridge will add 1.66 % growth to our GDP. We will be
able to bring a dramatic change in the life of the poor people of the region within next ten years.

On a different note, siltation is a massive problem in our region. Construction of the Bridge will
exacerbate the problem. I would request the authority concerned  to look into it seriously.

Economists predict once the bridge becomes operational, it is expected to push growth of the
country's gross domestic product (GDP) up by 1.2 per cent and create employment opportunities
for 50 million people.
During a visit to the bridge site, this correspondent found that the land prices in the surrounding
areas have already gone up and many private entrepreneurs are planning to set up industrial
units, especially export-based apparel industries, there.
A resident of the Maowa Ferry Ghat area said, "The government should expand the existing
Dhaka-Padma Ghat single lane road into four lanes as the traffic would increase heavily between
Dhaka and south-western districts after opening up of the bridge.

The two-level steel truss-bridge which will carry a four-lane highway on the upper level and a
single track railway on a lower level is expected to be a socio economic development catalyst for
the southern part of the country.
A study conducted by a local research firm said the Padma Bridge is expected to generate
substantial impact, "not only in terms of transport but also in the more extensive areas of the
national and regional economy. "
It also said the mega project would leave an immediate impact on cross-border trade and some
spillover effects such as hike in land prices.
A local academic referred to economist Hussain Zillur Rahman as saying that in and around the
Jamuna bridge site , there was already an industrial base and the north had good agricultural
base.
 So some benefits from the connectivity factor were immediate although lack of infrastructure
stalled industrialisation. But for Padma bridge, the scenario is opposite.

He also pointed out that the potentially high rate of toll as a result of cost escalation of the bridge
project may not be good for distribution of benefits to the local people.
The Padma Bridge is a multipurpose road-rail bridge across the Padma River. When completed it
will be the largest bridge in Bangladesh and the first fixed river crossing for road traffic. It will
connect Louhajong, Munshiganj to Shariatpur and Madaripur, linking the south-west of the
country, to northern and eastern regions. The project covers three districts - Munshiganj (Mawa
Point/North bank), Shariatpur and Madaripur (Janjira/South bank).