Can I get a debit card for my savings account?

Curious about debit cards and savings accounts? We’ve laid it all out simply for you to make banking a bit easier.

Debit cards are associated with checking accounts, so you cannot get a debit card for your savings account. Instead, savings accounts can give you an ATM card to use at any ATM. If you want to pay with your savings, you can quickly transfer funds to your savings to your checking account and pay with your debit card.

Debit cards provide easy access to the money in your checking account. ATM cards will help you transfer money or withdraw at an ATM.

Luckily for you, I’ll show you how to get a card for your savings account. I’ll show you your options for paying from savings. You’ll be on your way to getting your account up in no time.

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How to Get a Card for a Savings Account

To get a debit card, you will first need a checking account. You will need to get an ATM card if you want a card for your savings account. Most savings accounts do not offer linked debit cards.

Unlike a debit card, you cannot use an ATM card to make online or point-of-sale purchases. You can only use it at an ATM to withdraw and deposit cash.

1. Get a Debit Card for a Checking Account

You’ll want to get a debit card for a checking account if you want to make purchases with a card.

You can also have your savings and checking accounts linked to the same bank. This would allow you to move money from your savings into your checking whenever you want to spend it via your debit card.

To get a debit card for a checking account, follow these steps.

  1. Choose the bank or credit union where you would like to open a checking account. Visit their website or physical location.
  2. Gather information for the application, including proof of your identity like your driver’s license, passport, or social security card. Check with the bank or credit union to see if you need any other information and ask if the checking account requires a minimum deposit.
  3. Fill out the application and wait for its approval.
  4. Once approved, fund the account with money.
  5. You will either order your debit card or it will automatically be ordered for you. You should receive it via mail within a week or so. Once you do, activate it online or over the phone.
  6. You will be prompted to set up a PIN for your card. Keep this number safe since you’ll need it for your purchases and ATM transactions.

2. Get an ATM Card for a Savings Account 

To receive an ATM card for a savings account, you will follow the same prompts as above for a debit card. The difference is that you will open a savings account instead of a checking account.

Many banks offer the option of opening both accounts jointly. You can easily monitor both accounts online or via a mobile app and move money between them. Do note that many savings accounts have monthly withdrawal limits, so ask your bank if any fees are associated with savings withdrawals.

Once your account is approved, you may receive your ATM card at the branch or via mail. You’ll need to set up your PIN before using this card at any ATM.

3. Use Savings Account to Pay with a Debit Card

You can quickly and easily transfer money from your savings account to your checking account. Transferring money is handy if your checking account is low on funds. Then, complete your purchase using your debit card.

If your checking and savings accounts are within the same bank or credit union, simply visit the website or mobile banking app and transfer funds between your internal accounts.

If your checking account and savings account are in separate banks or credit unions, you can still transfer funds between them with an external funds transfer.

First, visit the savings account website and click on “transfer funds.” Then, enter your checking account’s routing and account numbers and the amount you’d like to send. If it is the first time you are transferring funds, your bank may need to verify your identity through text or email. Otherwise, the transfer will most likely take 1-2 days.

If your accounts are separate, you can also use an ATM card to withdraw cash from your savings account and then re-deposit it into your checking account using your debit card.

How to Choose the Right Savings Account

The benefit of choosing a savings account over a checking account is to allow your money to grow with interest. Most importantly, you want to find a savings account with zero or low fees.

Next, find one with the highest interest rates or Annual Percentage Yield (APY). The higher this is, the faster your money can grow. Online banks tend to offer the highest interest rates. Compare account accessibility such as ATM access, online banking, mobile banking, and customer service access.

How to Choose the Right Debit Card

When choosing a debit card, first analyze the associated fees. Some banks charge monthly operating fees, ATM fees, and international transaction fees.

Next, make sure the debit card is accepted anywhere you want to shop. For example, if you love to travel, choose a debit card that is accepted worldwide with no international fees.

Third, make sure the debit card offers secure online purchases and accessible in-person functions. It is important to consider accessibility such as ATM access, mobile or online banking, and customer service access. Some debit cards also offer rewards like cashback and discounts, so ask about any rewards programs before choosing your card.

Summary: Debit card for savings account

You cannot get a debit card for a savings account, but you can get an ATM card. If you want to use your savings to pay for debit transactions, you can also easily transfer funds from your savings to your checking account.

No matter what you do, remember to thoroughly research all the options when choosing the savings account and debit card for you. Not all financial products are created equal!

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