ATM AND DEBIT CARDS OF BANKS

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GROUP MEMBERS
SONALI ACHARI (01) ARCHANA HINGAD (08) PRIYA KUMAR (16) VINITA SHETTY (44) AKSHATA BHOSALE (54) RASHMI JAIN (64)

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INTRODUCTION
ATM CARDS:

It was introduced in the late 1960s.

An Automatic or Automated Teller Machine or ATM card is a magneticstripped bank card

An ATM card is a card issued by a 3/7/13 bank, credit union or building society.

The two functions of ATM cards and debit cards are

An ATM card can generally be made in person only.

Other types of transactions through telephone or online banking may be performed with an ATM.

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The Functions of an ATM Card

ATM cards can now be used to perform several other bank-related functions.

Paying routine bills, such as utilities, phone and social security fee bills.

You can also pay your taxes and legal fees through the card.

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Getting printed bank statements.

Updating passbooks.

Transferring money from one account to another.

Loading money onto your existing value cards, such as the prepaid SIM card.

Purchasing postage stamps, lottery tickets, train tickets and concert tickets.

Shopping for mall gift certificates.

Depositing cash or checks in the account linked to your ATM card. 3/7/13

How to use ATM cards?

Be alert 2. Insert your ATM Card into the machine. 3. Select a language. 4. Enter your PIN,then press Enter. 5. Select a transaction. 6. Deposit money. 7. Withdraw money 8. Choose whether to do an additional transaction. 9. Choose whether you want a receipt 10. Use the receipt to record the transaction in your check register or 3/7/13
1.

WHATS A DEBIT CARD?

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How Does a Debit Card Work?

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ADVANTAGES OF DEBIT CARD

Getting a debit card is easier than credit card. Personal information at the time of the transaction. Frees you from carrying cash or a checkbook.

It can save you from having to stock up on traveler's checks or cash when you travel. Debit cards may be more readily accepted than checks, especially in other states or countries.

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DISAVANTAGE OF DEBIT CARD

Unlike a credit card, debit card transactions give you no grace period. They are a quick, pay-now deal.

They can make balancing your account tricky if you are not fastidious about keeping receipts and recording transactions in a timely fashion.

Fees -- The convenience can be 3/7/13 costly, especially when using an ATM

A debit card only allows you to An ATM card allows you to makedraw financial transactions (purchases cash from your account through an mostly) without Teller cash. ATM (Automatedpaying Machine) The payment is made by swiping ATM debit cards, which can be used your debit card in a machine at a for both the purposes mentioned shop where you made the purchase. above.

DISTINGUISH BETWEEN ATM CARD AND DEBIT CARD.

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