Best debit cards for shopping

Cash withdrawal – favorable terms for a debit card

To determine which debit card is the most profitable, the card account holder prioritizes the ability to withdraw cash both at the issuing bank's ATMs and at other terminals. In most cases, cash withdrawals at issuing bank terminals are free of charge and without commission. Partner banks provide cash withdrawals under certain conditions, which include a percentage and a minimum commission amount. If the bank provides additional terms for using the bank card, commissions for withdrawals at third-party banks do not apply.

At the same time, according to Central Bank requirements, every credit institution must set limits on cash withdrawals. As a rule, daily and monthly withdrawal limits are set. The maximum possible cash withdrawal per month ranges from 600 thousand to 3 million RUB. Remember that commission-free withdrawals are only possible at partner banks that have concluded an agreement with the main issuing bank of the debit card.

Cashback - get a refund on your card account from purchases

To attract attention to the banking product, debit card issuers introduce extensive loyalty programs in the form of cashback. This is a refund of funds to the card account after the cardholder meets the terms of the loyalty program. The most advantageous debit cards with cashback reach a return rate of up to 30%. Some financial and credit institutions can offer exclusive cashback. For example, T-Bank has offers with cashback returns of up to 40%, and Kviku offers cashback returns of up to 69% if you make transactions with AliExpress.

As a rule, standard cashback is 1-3%. A number of banks offer purchases in "Favorite Purchases" categories, which provide increased cashback ranging from 3% to 10%. Some financial institutions also offer Super Cashback, which ranges from 10% to 100%. In the latter case, the refund can only be obtained as part of a promo campaign or under certain conditions.

As statistics show, almost 100% of the best debit cards have a minimum cashback of 1%. This means that when making purchases at any store, 1% of the amount spent is returned to the card account. To guarantee cashback, banks provide the following conditions:

• The cardholder must make purchases for a minimum amount.
• The card account holder must maintain a specific minimum balance.
• The debit card holder must perform certain financial transactions using the card account.
• The bank may set one or more conditions for earning cashback.

Cashback is usually awarded as bonuses, points, conditional rubles, miles, etc. Typically, bonus points are converted into rubles. In most cases, the conversion rate is 1 point = 1 ruble at some banks.

Bonus points can be converted into real money or spent only on specific services. In this case, it is recommended to check the specific rules for using bonus points with the issuing bank. Banks independently set a maximum limit on cashback earnings per month or per billing period. Failing to use cashback, for example, within 12-24 months will result in the bonuses expiring irrevocably.

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Accrual of interest on the card account balance

Many know that savings accounts guarantee interest earnings, but this comes with certain conditions—for instance, you cannot use the funds for several months, otherwise no interest will be paid. The best debit cards feature a similar system of paying interest on the card's account balance.

• The interest rate will be equal to or slightly lower than that of savings accounts, but you can freely withdraw and top up your account without restrictions.
• During one calendar month, the debit card holder must not only top up the card account but also make purchases.
• The bank independently determines the requirements that the debit card holder must meet to guarantee interest payments on the accumulated balance.
• The interest rate is calculated annually, but the funds are credited to the card balance after 1 calendar month.

What is the best debit card of 2024? Undoubtedly, it is a card that offers both cashback and simultaneous interest on the account balance. According to statistics, about 95% of all Russian debit cards feature cashback as part of a loyalty program, whereas interest on the balance is not offered by all credit institutions. Approximately 25% of all Russian debit cards have this option, and about 30% of the best debit cards combine both loyalty programs—interest on the balance and cashback.

Debit card fee and maintenance

The best Russian debit cards have low annual maintenance fees or none at all. As a rule, if a card has no annual maintenance fee, the banking product has a minimal loyalty program, usually limited to a standard 1-3% cashback without interest on the balance. The maintenance fee depends on whether the cardholder fulfills the conditions set by the issuing bank. The average annual maintenance cost ranges from 490 to 1,500 RUB. There are cards with annual maintenance exceeding 3,000 RUB, but such cards feature extensive cashback loyalty programs.

The maintenance fee is charged in the following cases:

• Once a year as a fixed amount, regardless of whether obligations are met.
• Once a month, if the cardholder fails to meet the minimum requirements of the card program.
• The amount may change after the first year of maintenance. For example, the Gazprombank Smart Card UnionPay is free for the first year, and costs 3,490 RUB starting from the second year.
• If you order a second or subsequent card as an additional one (sometimes such cards are issued free of charge).
• If the card is reissued.

Thus, two schemes for charging card maintenance fees are provided: monthly or annual.

Additional information on the best debit cards

A banking product should offer more opportunities for the holder of the financial instrument. Financial and credit institutions, acting as issuing banks for debit cards, provide additional attractive features for their banking products, which include the following:

• Internet banking allows cardholders to manage their accounts via the internet. The service is provided free of charge (in most cases).
• The card validity period is from 3 to 5 years, with the possibility of renewing the banking product.
• There are bonus and other programs beyond classic cashback and interest on the balance.
• ATMs of non-partner banks charge a minimum commission fee.
• An overdraft service is available upon customer request (not for all banks and cards).
• Debit bank cards can be linked to electronic wallets like Qiwi or Yandex Money, with a minimum commission fee for withdrawals and money transfers.
• There are plenty of ways to top up the card account with minimal or zero commission.
• All debit cards meet high security standards, including chip technology, card verification on special security systems, etc.
• The debit card holder can independently determine the goals and ways of using bonuses credited as cashback or as part of a promotional campaign.

Before applying for the best debit card, we recommend carefully studying the terms of the banking product offered by your chosen bank.

TOP of the best debit cards in Russia

It is difficult to state the exact total number of the best debit cards in Russia. At the same time, there is a TOP list of the best debit cards that genuinely allow you to not only safely store funds, but also maximize your earnings through cashback and interest on the card account balance.

Our financial product matching service invites you to check out the best debit cards in Russia, taking into account the availability of cashback, interest rates, etc.

1. Uralsib Bank, card "Profit».
2. Credit Bank of Moscow (MKB), card Mudrost.
3. Ak Bars Bank, debit card "Ak Bars Card».
4. Fora-Bank, debit card "All Inclusive».
5. Gazprombank, debit card "Smart Card UnionPay».
6. VTB, debit card "Card for Life».

The most profitable debit cards must meet an important criterion: trust and popularity among banking product customers. We have developed an evaluation criterion for debit cards that have all the necessary data to form the ranking of the best debit cards of 2024.