If you aren’t using your debit card, you’re missing out.
A debit card is a convenient and secure way to make purchases and track your spending. It’s so versatile you can use it in place of cash, checks, and credit cards. And if you want cash in hand, it does that, too.
How can you harness that power while building your financial foundation? Let’s start with the basics.
What is a debit card?
Debit cards – sometimes called check cards – are a way to pay for things. Your First Interstate Debit Mastercard® is issued when you open a checking account, and it is free to use.
While debit cards look like credit cards, they do not work the same way. Credit cards use money that you borrow and can accumulate interest charges while also earning rewards. Debit cards are linked to your checking account and use money you already have. There is no bill to pay later.
Be sure to activate your First Interstate Debit Mastercard® as soon as you receive it by calling 800-992-3808. Immediate activation is an important security step because it confirms you received your debit card and that the card has not been tampered with.
Why should I use a debit card?
Advantages of using a debit card include:
Convenience: You can use your First Interstate Debit Mastercard® to make purchases straight from your checking account. Instead of writing a check for your purchases, present your debit card anywhere Mastercard® Debit Cards are accepted.
The merchant will handle it like any other Mastercard transaction, and you won't be charged any additional transaction fees. Plus, you will receive a receipt at the time of purchase and a detailed record on your monthly checking statement for recordkeeping.
The First Interstate Debit Mastercard® is convenient for telephone, Internet, or mail order purchases, too.
Easy access to cash: Debit cards let you buy things without carrying cash. But if you want currency, your First Interstate Debit Mastercard® also serves as your ATM Card. You can use your debit card for ATM transactions at First Interstate Bank Day & Night Teller ATMs at no cost to you or withdraw money from a MoneyPass® ATM without paying a surcharge. You can also request cash back when you use your First Interstate Debit Mastercard® to buy something at a store.
Budgeting: By using a debit card, you are only spending the money that you have in your checking account. This can help you stick to a budget and avoid overspending. Use the free FIB Debit Manager app to control how, when, and where your debit card is used in real-time. First Interstate Debit Manager is available for Apple and Android mobile devices. You can download the app from the Apple App Store® or Google Play™.
Just remember, no matter how you use your First Interstate Debit Mastercard®, you must log the amount in your checkbook just as you would if you were writing a check or conducting an ATM transaction.
Fears and facts about debit cards
If you’re new to debit cards, you might be worried about security, managing your account, or keeping tabs on spending. The good news is your First Interstate Debit Mastercard® is packed with safeguards and features.
Fear: I’m worried about the security of my personal and financial information when using a debit card. What protections are available?
Fact: Through your First Interstate Debit Mastercard® you can utilize Mastercard ID Theft ProtectionTM. This feature monitors your credit file for changes that could indicate fraud, sends alert notifications for suspicious activity, and provides ID Theft Resolution with white-glove service.1
Fear: What if my debit card is stolen or used without my permission? Can I recover my money?
Fact: Every purchase made with your First Interstate Debit Mastercard® is backed by Zero Liability Protection2, which means you won’t be held responsible if someone makes an unauthorized purchase with your card if you have used reasonable care in protecting your card from loss or theft, and you promptly reported loss or theft to First Interstate Bank. Use the FIB Debit Manager to freeze your card if it is lost or stolen—or if you see a suspicious transaction.
Fear: I’m worried about overspending. How do I monitor my account balance?
Fact: You can track and limit spending with the FIB Debit Manager mobile app. Set spending limits by merchant type, location, and dollar amount, and receive alerts when a transaction is made. By monitoring your balance and transaction history, you can identify areas where you may be overspending.
Fear: What if I accidentally overspend?
Fact: Debit Card Courtesy Overdraft provides a safe and convenient solution so that, rather than having your debit card declined during a transaction, you can authorize us to pay in overdraft situations. There is a $10 charge each time we pay an overdraft, and you will only be charged when you use the service. There is a Maximum Daily Charge of $40 for overdrawing your account.
Start using your First Interstate Debit Mastercard® today! Activate your card by calling 800-992-3808.
Report a lost or stolen card. Call 855-342-3400 Monday through Friday 7:30 a.m. to 7 p.m. Mountain Time, and Saturday 10 a.m. to 2 p.m. Mountain Time, to report a lost or stolen debit card.
FAQs about debit cards. Want to know more? We have answers! Learn about traveling with a debit card, daily limits, and more.
1Certain terms, conditions, and exclusions apply. Cardholders need to register for this service. This service is provided by Generali Global Assistance, Inc. Please see your guide to benefits for details or call 1-800-MASTERCARD (1-800-627-8372).
2These are summary descriptions only. Certain terms, conditions and exclusions apply. To learn more about Zero Liability, visit mastercard.com/zeroliability. Contact First Interstate Bank for complete coverage terms and conditions or call 1-800-MASTERCARD (1-800-627-8372) for assistance. Applicable to U.S. cardholders only.