An ATM card is a plastic card that looks like a credit card. It allows you to do the same things at a bank machine or Automatic Teller Machine (ATM) as you would at the bank itself.

Most banks and other financial institutions like credit unions offer ATM cards. They are usually connected to your checking or savings account. When you go to a bank to open an account, you may be given an ATM card automatically. If you are not offered an ATM card, ask for one.

The ATM card allows you to do many of the things you would do at the bank but gives you round the clock access to funds and information about your account. The card also has benefits for the bank inasmuch as the machines replace human tellers.

You can get cash, deposit checks or cash, check account balances, and receive information about your account and transactions by using your ATM card and the password to your account. This password is called your Personal Identification Number, or PIN.

Because ATM machines are almost always part of an interbank network, an ATM card given to you by your bank can be used to receive cash at ATMs belonging to other banks. You can use ATMs that are located at all of your bank’s locations as well as those at other banks, grocery and drug stores, office buildings, and street corners across the United States and worldwide. However, there is often a service charge of $2.00 or more to use an ATM that does not belong to your bank.

You can also use your ATM card to make purchases at some retail stores. If a store, particularly a drug or grocery store, has an ATM machine, they may also accept an ATM card at the register. You simply swipe your card through the credit card processor and then will have to punch in your PIN. Often the machine will offer you the opportunity for cash back along with your purchase. This is a good way to avoid fees for using an ATM for cash that does not belong to your bank if you actually need to purchase something in the store.

Unlike a debit card, an ATM card can only be used for transactions in person (and not by telephone, fax or internet), as it requires authentication through your personal identification number or PIN. So, it cannot be used at merchants that only accept credit cards.

This leads us to the most important thing about an ATM card. ATM cards are not credit cards and can only be used for withdrawals or purchases that are covered by the amount of money that you have in your account. If you try to withdraw $60 from an ATM when you only have $30 remaining the transaction will be denied.

No user commented in " ATM Cards "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)