What Is An ATM Card? A Guide To ATM Card and Security.

ATM cards are valuable tools for managing your finances securely. Learn what they are and how to use them safely with this guide!

To access to your bank account, there are ways and means to do it. Before the internet availability were less, people go to the bank to transact money in their account.

Things have changed gradually and we have come to a point where possibilties are somewhat limitless. At present, you can access to your account in various medium.

Online accessibility is one such great accomplishment in the sector, where you would just create or register your account to the online banking services. Afterwards you can operate the account 24/7 throughout the year.

Other then, the accesibility of bank account with online internet banking and offline banking, you get the alternate channel product called an ATM debit cards.

An ATM debit card is a plastic card which enable you to access to your account through ATM- Automated Teller Machine.

It’s a convenient financial tool to make transactions and access cash quickly and securely.

With an ATM card, you can withdraw money from ATMs and check your balance in real-time. Find out how to use your card safely and what other services it offers!

What is an ATM card?

An ATM card is a type of payment card, such as a debit or credit card, that can be used to make withdrawals and deposits at an automated teller machine (ATM). It contains information like your account number, name and bank details.

ATM cards are usually given by banks and other financial institutions to their customers. They are the primary way people access their money when they need it.

ATM Card Types

There are 2 types of card, one which is only for domestic purpose and the other is an international card which can be used abroad too. A number of variants are there under these types.

Domestic card usually does not have much variants but you can find many card variants of an international ATM card.

These are some of the variants of an international ATM card.

  • Silver ATM Card
  • Gold ATM Card
  • Diamond ATM Card
  • Platinum ATM Card.

Grading of these cards can be seen in almost all the popular banks in India. Platinum is the top level card which give you much higher daily transaction limits.

How do you use an ATM card?

Using an ATM card is fairly straightforward and easy to do. When you arrive at a machine, you can either insert the card into the designated slot or tap it against the reader (depending on your type of card).

You’ll then be prompted to enter your pin or other security code. Afterwards, you can choose whether you want to withdraw money, transfer money, check your balance or perform other types of transactions.

Once you’re finished, your transaction will be processed and the ATM will give you any money that you withdrew as well as provide a receipt for your records.

Is it safe to use an ATM card?

Yes, it is safe to use your ATM card if you follow the necessary steps. Banks and credit unions have implemented security measures to help protect your money in case of theft or fraud.

For example, most transactions will require you to enter a PIN or password which helps verify that you are the legitimate owner of the account.

Additionally, many cards come with extra layers of security such as chip technology and two-factor authentication. By following this advice, you can feel confident using your ATM card safely.

What are EMV chips, and why are they important for security?

EMV chips are microprocessors that are embedded in some ATM cards. They create a one-time code for your transaction, helping to make it more secure.

This technology is designed to reduce the risk of fraud and data breaches, giving you peace of mind when using your card at an ATM.

They also increase access control since the chip is uniquely linked to your account, making it difficult for someone else to use your card without consent.

Are there limits on ATM cards?

Yes, your financial institution may limit the amount of money you can withdraw per day and the number of withdrawals you can make.

It’s important to be aware of these limits so that you don’t face problem managing your money.

You should also become familiar with your card provider’s specific guidelines for making ATM transactions.

In India, most of the banks issue an ATM Debit Card with transaction limits of ₹20000 to ₹200000.

Lower card variants such as Silver Card₹20000 to ₹40000
Gold Card₹50000
Diamond Card₹100000
Platinum CardSome banks have ₹100000 limit and other banks have higher upto ₹200000

Its a general view only. These card limit differs between the banks. It depends on which bank you maintain your account.

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