Ever imagined the power of a 85.60 × 53.98 mm plastic card, whose value can be from Rs. 0 and can run up to lakhs and crores? ATM card introduced by Barclays in London in 1967 is that powerful tool which has changed the entire banking system in the world. It has relieved millions of users from standing in long queues in the banks. Banking is now done at the fingertips 24X7.
What is an ATM card?
ATM card can be used for cash withdrawal, balance inquiry, etc. It can be used at ATM (Automatic Teller Machine), a computerized machine. Almost every bank has its own ATM centres. The card can be used across all banks ATM. Currently there are 92588 ATM present all over the country. It is issued by the bank where you open a new current or a savings account or have existing account(s). Only one card is issued per account. The bank charges yearly fee for the card. The card has a unique 16 digit number on it. It also has a validity date till which the card can be used. The card has several safety features to prevent misuse or tampering like a signature panel, magnetic strip, user image etc.
How to use ATM card?
The card needs to be activated before the first use. This can be done in two ways:
The card can be activated only at the same bank ATM (E.g.: SBI ATM card can be activated only at SBI ATM centers). First, the card is inserted. The machine asks for the PIN. It’s a 4 digit code provided by the bank. On feeding the number, the machine asks to reset the PIN. You create your own PIN. The card gets activated.
The toll free bank number needs to be dialed. On selecting the card activation option, details such as card number, expiry date, date of birth etc. will be asked. An activation code might be sent to your mobile number. On entering this activation code on your phone, ATM PIN generation option comes where you can put your own PIN. On confirmation, the card gets activated.
For cash withdrawal from ATM, insert the ATM card. Enter the new PIN. Select the account type (current/savings). Enter the amount in multiples of 100. Collect the cash, card and receipt.
Loss or theft of card
In case the card is lost, stolen, misused, or damaged, it can be deactivated by calling bank customer centers. In this case, a new card can be obtained from the bank branch.
Safe use of ATM cards
ATM card is a very useful tool for banking services. Do not share passwords with anyone and cover the screen while entering PIN to assure card safety. Life becomes much easier by using these technologies and it provides a good overall experience for the user. We need to make the best out of it!
Recommended Read :
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- What is An ATM Card? How to Use Your ATM Card?
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- Safe ATM Banking Methods to Make ATM Banking Safe