Learn How An ATM Card Can Give You More Control If Used Wisely!

An atm card can give you more control if used wisely! Apply for a debit card with instant online applications. Learn how to avoid card fraud.

Since its introduction over 20 years ago, the atm (automated teller machine) has become part of everyday life, and people are using these cards millions of times each day.

Today, changes in technology are allowing people to use the now familiar automated teller machine cards in new ways that are reshaping the way we handle our money.

The first debit cards gave consumers access to their checking, savings, and share draft accounts only at teller machines owned by their bank, credit union, or savings and loan. People commonly call this kind of card, cash card, or banking card, or they use the name that their bank, credit union, or regional network has given to the card.

Now we have:

• prepaid atm card
• atm card fraud
• debit card
• visa card
• atm credit card
• atm plus cards and more

Four questions to ask when you sign up for an atm card:

Before you use your card to withdraw cash or shop, you should ask your bank or credit union about the costs associated with ownership and use of the card.

Here are some ATM bank card questions you might ask:

• What are the monthly or annual fees for this card?
• What are the (per use) fees when using a bank or credit union card?
• What are the (per use) fees when using the card to shop?
• How can I avoid any of these fees?

You can only spend what you have on your automated teller machine card:

When you use your card, whether to withdraw cash or make purchases, you are using your own money that is on deposit at your bank or credit union. Naturally, you can only use as much money as you have available.

If you have an overdraft line of credit attached to your account and your purchase with the card exceeds the amount available on deposit, your bank or credit union will charge interest on the amount you borrow from your overdraft.

Your ATM bank card is Becoming Even More Useful:

But wide access to automated teller machine (ATMs) is just the beginning. Technology is enabling banks and credit unions to introduce new services that allow you to pay for things by making your card work like a check. This latest improvement can offer conveniences and money management benefits over cash and checks.

Plastic cards are issued by banks for use in Automated Teller Machines. You receive a personal identification number (PIN) with each card. Each card has a magnetic strip that is activated when you punch in your PIN.

Originally designed as cash dispensing cards, they now perform functions as diverse as deposits and withdrawals, cash advances on charge cards, bank transfers, account inquiries, and surprisingly, bill payments.

Be careful with your card and PIN number. If you report a stolen ATM card within two days of t he theft, you may face a maximum liability of $50. However, if t he theft goes unreported, you may be held responsible for up to $500 of any resultant loss.

Also, unauthorized withdrawals must be reported within 60 days of their initial appearance on the bank statement or your liability is unlimited. In a situation like this, you could even lose your entire deposit. The rule to follow when handling an atm visa card account is always to keep your PIN and atm prepaid card separate.

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