Types of ATM Cards You Need to Know

0

Types of ATM Cards : Automated Teller Machine Card or ATM card is a payment mode that is used by the respective users for carrying their financial requirements and purposes. It is also known as a bank card, key card, client card, cash card, or shopping card. There are a variety of ATM cards that are used as per the requirement; some of them are listed below-

Transactions using ATM card- In today’s digital era, ATM card has become a primary need of finance, as it is the swift source to complete relevant financial transactions. The card can be used for numerous purposes. As of the benefits, it also has its own drawbacks; hence there’re several ways that can stop ATM from any misuse.

It is a payment card offered by a bank to their customers. It enables the user to use ATM machine for transactions like deposits cash, cash withdrawals, shopping, online payments, obtaining account information, banking transactions etc., often through interbank networks. Some cards are also used for credit card payments, paying loans, getting cash advances, and doing online transactions, however, they can’t be used for making purchases. Several types of ATM cards are there that fall under this category.

ATM Debit Card-

An ATM debit card can work as same as the normal ATM having additional functionalities of debiting/withdrawing the cash from any bank account. This can be used for shopping purposes via online also. They look similar to that of credit cards (ATM credit cards) but doesn’t function like them. They are used for debiting money purposes. To know more about the ATM card facility, you should check them online.

ATM Credit Cards-

ATM Credit Card has all the required features of both debit and credit cards. It is one of the new types of ATM debit cards provided by some banks/financial institutions. Along with checking the account details, the card is attached to the line of credit of the user as well. Here, if the customer overdrafts their a/c, then they won’t find any of the fees back; instead the amount from their bank account would be taken off with the suitable calculated interest when the money would be available.

Some banks/financial institutions also offer ATM debit cards that are used as a picture ID. This is needed to be done for the safety and security purposes, a tiny picture can be added on the ATM card after an applicable payment. Besides these additional features, there’re also options to modify the appearance of the card. Hence, even the ATMs can be designed according to the wish or desire or users.

Besides these, combo cards are also available there in the financial institutes and banks that function as per their rules, terms and conditions and policies. ATM cards have gained great importance in recent year, because of its conform ability, speed, and ease of use. The technology has made it simple to access the money from any ATM machine, enabling an easy access.

Leave A Reply