An Automated Teller Machine (ATM) card is a kind of payment card is issued by financial institutes that enable a customer to access in order to perform transactions like cash deposits, cash withdrawals, accessing your account information, etc. The very first ATM cards were issued by Barclays in 1967 in London.
ATM cards are also known as bank cards, Money Access Card (MAC), client card, key card or even cash card. Even though ATM-only cards are available, you can always use your payment cards like debit and credit cards as ATM cards, etc. But remember that charge and proprietary cards cannot be used as ATM cards.
You need to understand that the use of a credit card to withdraw cash at an ATM is different from a Point of Sale (POS) transaction, which involves interest charges from the date of the cash withdrawal. POS transactions involve customer making payment to the merchant in exchange for goods or after provision of a service. Inter bank networks permit the usage of ATM cards at ATMs of private operators and financial institutions even for other than those of the institution that issued the cards.
With dimensions somewhere around 85.60 × 53.98 mm (3.370 × 2.125 in), ATM cards are also used as “mini ATMs” and merchants’ card terminals where you get to operate ATM features without any cash drawer.
Look wise, a debit card is just like another regular ATM card, rounded corners with a radius of 2.88–3.48 mm. The basic feature that a debit card holds is a Visa® or Mastercard® logo on its face. That means you can use a debit card wherever Visa or Mastercard® debit cards are accepted, for example, department stores, restaurants, or online.
Miscellaneous uses of ATM cards
• You can always use your ATM cards at any bank branch, as identification for in-person transactions.
• Use your ATM cards at ATM booths for banking transactions regarding cash deposits, checking available balance and ledger amount in your account, cash withdrawals, transferring money between different accounts etc.
In order to check the ever increasing production of illegal copies of ATM cards with a magnetic stripe, the European Payments Council established a Card Fraud Prevention Task Force in 2003. This made all the ATMs and POS applications to use a chip-and-PIN solution till the end of 2010. One can check that the “SEPA for Cards” has severed off the magnetic stripe from the Maestro debit cards.
Some banks have clubbed the functions of ATM cards and debit cards into a single debit card, or what is also known as a “bank card”. These are capable of carrying out banking operations at ATMs and also make point-of-sale transactions, with the use of a secret PIN which is known only to the customers.
ATM cards are also known as bank cards, Money Access Card (MAC), client card, key card or even cash card. Even though ATM-only cards are available, you can always use your payment cards like debit and credit cards as ATM cards, etc. But remember that charge and proprietary cards cannot be used as ATM cards.
You need to understand that the use of a credit card to withdraw cash at an ATM is different from a Point of Sale (POS) transaction, which involves interest charges from the date of the cash withdrawal. POS transactions involve customer making payment to the merchant in exchange for goods or after provision of a service. Inter bank networks permit the usage of ATM cards at ATMs of private operators and financial institutions even for other than those of the institution that issued the cards.
With dimensions somewhere around 85.60 × 53.98 mm (3.370 × 2.125 in), ATM cards are also used as “mini ATMs” and merchants’ card terminals where you get to operate ATM features without any cash drawer.
Look wise, a debit card is just like another regular ATM card, rounded corners with a radius of 2.88–3.48 mm. The basic feature that a debit card holds is a Visa® or Mastercard® logo on its face. That means you can use a debit card wherever Visa or Mastercard® debit cards are accepted, for example, department stores, restaurants, or online.
Miscellaneous uses of ATM cards
• You can always use your ATM cards at any bank branch, as identification for in-person transactions.
• Use your ATM cards at ATM booths for banking transactions regarding cash deposits, checking available balance and ledger amount in your account, cash withdrawals, transferring money between different accounts etc.
In order to check the ever increasing production of illegal copies of ATM cards with a magnetic stripe, the European Payments Council established a Card Fraud Prevention Task Force in 2003. This made all the ATMs and POS applications to use a chip-and-PIN solution till the end of 2010. One can check that the “SEPA for Cards” has severed off the magnetic stripe from the Maestro debit cards.
Some banks have clubbed the functions of ATM cards and debit cards into a single debit card, or what is also known as a “bank card”. These are capable of carrying out banking operations at ATMs and also make point-of-sale transactions, with the use of a secret PIN which is known only to the customers.
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