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Difference Between Debit & ATM Card | SBI PO Prelims & Mains Preparation - Bank Exams PDF Download

Introduction

  • Now, it is very difficult to carry plastic money and it involves many risks also and it is necessary to use the latest information communication and technology.
  • Banks are providing better products and services like internet banking, mobile banking, ATM card, debit and credit card.
  • Debit card and ATM card are used to withdraw money by using a PIN

Difference Between Debit & ATM Card | SBI PO Prelims & Mains Preparation - Bank Exams

Debit Card

  • A debit card is also known as "check card".
  • Debit card facilitates the card owner to make transactions electronically and transfer the fund from the account while making a purchase.
  • A debit card is a plastic card which is issued by the bank to pay for the purchase of goods and services at any time.
  • The facility is used by those who have a bank account.
  • A debit card is used to make online payment through electronic fund transfer at point of sale.
  • A debit card is also used to check account balance, transfer funds to the account to another account.
  • A debit card is linked to the cell phone so that the client will get a notification on time.

ATM Card

  • ATM card is a payment card which is issued by the bank that provides service to the client to access it and withdraw money when needed.
  • ATM card is a plastic card issued by the bank includes essential information about the bank account of the account holder.
  • ATM card is generally used to withdraw money anytime along with it one can also deposit money into their bank accounts using ATM cards
  • ATM card facilitates the general purposes of withdrawals, balance inquiry by statement facility and by depositing money through it.
  • It is secure because when the transaction happens in an account, banks will send an alert message. So, one can crosscheck the transaction.
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Similarities of Debit Card & ATM Card

  • ATM card and debit card are made of plastic and both have the same appearance.
  • Both are issued by the bank and provide the facility like balance inquiry, withdrawal of money or make payment online and much more.
  • Banks charge fees for providing this kind of facility and it varies from bank to bank.
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Difference Between Debit & ATM Card

Difference Between Debit & ATM Card | SBI PO Prelims & Mains Preparation - Bank Exams

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