What is ATM card?

What is ATM card?


An ATM card (Automated Teller Machine card) is a payment card issued by a bank or financial institution that allows you to access your bank account through an ATM to perform basic transactions, such as withdrawing cash, checking account balance, transferring funds between accounts, and even making deposits.

Key Features of an ATM Card:

  1. Access to Cash: The primary use of an ATM card is to withdraw cash from ATMs.
  2. Bank Account Linkage: An ATM card is directly linked to your bank account, meaning any transaction you make using the card is deducted directly from your account balance.
  3. PIN Security: ATM cards require a Personal Identification Number (PIN) for authentication, ensuring secure transactions.
  4. Limited to ATMs: Traditional ATM cards can generally only be used at ATMs, unlike debit or credit cards, which can be used for purchases at stores or online.
What is ATM card?


Difference Between ATM Card and Debit Card

  • ATM Card: Often limited to use at ATMs for cash withdrawal and basic account services.
  • Debit Card: Can be used at ATMs and also for purchases at retail stores, online shopping, and in some cases, international transactions.

Types of ATM Cards

  • Bank-Specific Cards: Some banks issue ATM cards that are usable only at their ATMs.
  • Networked Cards: Most ATM cards today are part of networks like Visa, MasterCard, or UnionPay, allowing broader access to ATMs across various banks and locations worldwide.

ATM cards are widely used for quick access to cash and other essential banking services without the need to visit a bank branch.

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