How Many Types Of ATM Cards Are There?
- There Are Many Types Of Debit Cards Available
- How To Know Which One To Choose?
- Having The Right Network Processor Is Important
Debit Cards: ATM Card/debit Card Is The Most Common Type Of Card That Everyone Who Has A Bank Account Has. It Is Not Limited To ATM Withdrawals. They Are Beneficial In Many Ways. However, There Are Many Types Of ATM Debit Cards Available In The Market. How To Choose The Right Card For You In This Background? Now Let Us Know The Things.
Debit Cards:
Debit Cards or ATM Cards Are Not Limited To Just Going To an ATM To Withdraw Money. They Are Like The First Gateway For Online Transactions. Debit Cards Are Convenient And Beneficial When Used Properly. To Use A Debit Card As Per Your Needs, You Need To Choose The Right Card. However, There Are Many Types Of Debit Cards Available In The Market. We Should Be Aware Of How Many Types There Are And Which One Is Right for us. Only Then Will We Be Able To Take an ATM Card Suitable For Our Needs. Let us Know The Full Details Now.
Also Read – Have Too Many Debit Cards? Will The Toll Be Ringing? What Is Card Blocking?
Regular Debit Card
Banks Usually Offer Regular Debit Cards To Their Customers. While Making Payments With This Card, Both Small And Large Amounts Need To Be Swiped And The PIN Number Must Be Entered. In Case Of Loss Of This Card The PIN Number Is Required So The Risk Is Low.
Also Read – You can Withdraw Cash From an ATM Without A Card
Contactless Card
Nowadays There Are Debit Cards With Features That Allow Transactions Without Touching The POS Machine. These Are Called Contactless Cards. Transactions are Done With Near Field Communication (NFC) Technology Without PIN. No PIN Required Up To Rs.5000.
A Co-branded Debit Card
Credit Cards Are Currently Gaining Popularity. Co-branded Debit Cards Are Available In The Market Just Like Credit Cards. These Cards Offer Cash Back And Exclusive Discounts From Associated Brands. However, The Transaction Charges Of These Cards Are High.
Non-Co-Branded Debit Card
Non-Co-Branded Debit Cards Can Be Used For General Transactions like cash Withdrawal From ATMs, Online Payments Etc. These Have Normal User Charges. It Can Be Said That The Special Ash Back And Ddiscounts Are A Little Less.
Also Read – How to withdraw PF: Do you know how much is coming now?
Premium Debit Cards
These Have Double Benefits Compared To Normal Debit Cards In Case Of Cash Withdrawal And Other Transactions. Some Premium Cards Also Offer Higher Reward Points, Discounts And VIP Launch Access At Airports.
Choosing The Right Network Processor (PNP) is Important When It Comes To Debit Cards. There Are Various Network Processor Companies In Our Country Like MasterCard, Visa, Maestro, American Express, Rupay. However, RuPay Debit Cards Are Widely Used In Our Country. Charges Are Less On Rupay Card.
