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29/06/2010 -
Debit card use is on the rise according to a poll by TD Bank, reports Banker & Tradesman.The poll, which surveyed about 1,500 people in three American locales, found that 69 percent of consumers in the Northeast, 72 percent in Washington, DC, and 83 percent in Florida use their debit card for daily purchases.
Nandita Bakhshi, head of deposit products at TD Bank, said the survey's findings reveal that "checking accounts are more important in these tough economic times, since customers are using credit cards less and their debit cards, online banking and cash more."
Many debit card consumers report the ease, convenience and security of debit cards as the main reasons for using the cards so frequently, reports Banker & Tradesman.
Debit cards remain one of the most popular electronic payment methods in America, with an estimated 507 million debit cards currently in circulation in the United States, according to CreditCards.com.
