What Is The Difference Between An ATM Card And Debit Card
Digital payments have taken over the whole world and have affected all the sectors positively. Every person is using digital payment sources for fulfilling the monetary requirements of buyers. Cash transactions have now become a thing of the past. People can control their finances at the comfort of their homes! There is no compulsion of carrying cash everywhere and worrying about its storage and safety.
Following is the difference between the two types of cards:Cash withdrawal: The primary function of an ATM card is to withdraw cash from the account. The card can be used after entering the PIN. It cannot be used anywhere else, besides the ATM.On the contrary, a payment card can be used for multiple purposes like cash withdrawal, payments of bills, etc. Some banks also offer an overdraft facility on payment cards. They are linked to the savings accounts of cardholders and make transactions easier.Uses: When people open a savings account, they are provided with debit cards by the bank. They can be used to withdraw cash up to the daily withdrawal limit. Users can also get mini statements for their transactions. They check their account balance, change PINs, order cheque books, and deposit cash. Payments at PoS domestic and international terminals are accepted. Other benefits include shopping, utility bill payments, ticket bookings, mobile plan recharges, fund transfers, and lots more. Payment system logos: The cards meant for ATM transactions only are issued by Maestro or Plus. Cards that are meant for the debit purpose have logos such as Visa, Master Card or Rupay embossed on them.Net banking facility: Cards for ATMs cannot provide net banking services as opposed to a debit card that offers mobile banking facility as well.PoS payments: Cards meant to be used exclusively at an ATM cannot be used to make payments on online commercial websites or retail stores. But multipurpose cards can be used for paying bills at retail stores, restaurants, online shopping, and other merchant establishments which support card payments.ConclusionPeople can also apply for debit cards online by visiting the bank’s website and logging on to the portal with their User ID and password. They can select digital banking apps option and select the card option. The card will be delivered at the address within seven to eight working days.
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