An ATM card is plastic money or a payment card issued by a bank that enables a customer to access cash through Automated Teller Machines (ATMs). An ATM card is a PIN-based card. A four-digit PIN is a security feature, similar to a password that protects the card. You should always keep your PIN (Personal Identification Number) confidential to avoid misuse of your card.
How to use an ATM card at retail stores
You can use an ATM card to make purchases at retail stores if it functions as a debit card. During billing time, the merchant swipes the card in their card machine or POS (Point-of-Sale terminal), after which you need to enter your PIN. However, the store should be using the same network as your bank’s such as MasterCard or Visa or Rupay. ATM cards are also called as a bank or client card.
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Nowadays, every debit card or credit card comes with a chip, due to which contactless technology has enabled transactions with just a tap at the payment terminal or card machine ( it uses RFID technology to read the encrypted code of chip).
Note: All banks levy some amount of annual fees on the ATM Cards.
Citations :
Power Words :
- CVV
- Installed
- Confidential
- Deposit
- RFID
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