TD Canada Trust has unveiled a new debit card that offers perhaps the most comprehensive features you will find on the Canadian market. This debit card is the first of its kind, it will not only offer you the ability to access your bank account(s) but includes the benefits of Visa Debit, Interac Debit and Interac Flash.
You do not need to re-read that section, yes TD’s new debit card offers all 3 of those payment forms.
This will make life so much easier for people; the convenience included with TD’s new debit card is amazing. Whether you want to purchase a product over the phone, online, etc. you can do so with funds leaving straight from your bank account.
What can this new debit card for me?
As I mentioned above, this new enhanced debit card will allow you to pay with money in virtually all possible outlets. The fact is, you are given the security and ease of having a credit card to make various purchase, except it is in the form of your debit card.
In case anyone has forgotten, Interac Flash is a technology that will allow you to make contactless payments via you debit card. Scotiabank is currently the only bank in the Big Six that offers this feature on their Scotiabank Scene card.
When you reach checkout and wish to pay, you simply flash your card against the reader – the only catch is that the purchase has to be less than $100.
How does the new debit card work?
This new debit card has an embedded microchip which stores information in a secure format. Transactions are then processed via Interac Debit and Interac Flash; they will benefit from the Interac Zero Liability policy. It will also allow youto make Visa Debit purchase; having your purchases be processed through the Visa network, making them protected by Visa’s security.
With that said, the CIBC Advantage Card offered Visa Debit, which made it quite unique, and with the Scotiabank Scene Card offering Interac Flash, TD had competitors in both fields.
In my opinion they blew them out of the water by introducing a debit card that not only offered what these banks offered, but both of them at once.
As it stands, I was not able to find out when this debit card will officially be launched, but I am looking into it and will let you know whatever news I find! The new debit card is available! You can pick one up today from a TD Branch.
What do you think of TD’s new debit card?
EDIT: Update Debit Card availability