So, do you know the difference between a debit card and an ATM card?
No, really…do you?
Usually when you open a checking account at your local bank, the New Accounts Rep will ask, “Would you like a debit or ATM card attached to your account?”
At this moment, you need to ask, “What’s the difference between the two?”
Debit Card
A debit card is a more convenient way of spending money than simply carrying cash around at all times. You put your money into a checking account, and you can swipe your debit card to deduct
money from that account to pay for your purchases. You can’t spend more than you have, and you won’t build your credit score, but it’s a great way to simply spend your money without having to worry about going into debt or losing your money.
You can use the card online, in-store and at the pump. And, with a debit card and personal identification number (PIN), you can use an Automated Teller Machine (ATM) to withdraw cash, make deposits, or transfer funds between accounts.
In today’s cashless society, you pretty much need a debit card or online money transfer account. Just try buying something on Amazon without PayPal or some form of plastic. Most people use their debit card daily, but if you’re one of those people who prefers to use paper checks, cash or a major credit card, a debit card might not be your best choice. When it comes to a debit card, if you use it less than 3 times a month, there is usually a small fee that will show up on your monthly statement.
More and more of our customers are turning to a debit card for ease of use, security and tracking their spending.
ATM Card
An ATM Card, is a card issued by a financial institution that enables a customer to access an automated teller machine (ATM) in order to perform transactions such as cash withdrawals, transfers, obtaining account information, etc. Interbank networks allow the use of ATM cards at ATMs of financial institutions other than those of the institution that issued the cards. Fees may vary depending on the type of account you have and the ATM you use.
As you can see, we offer both types of cards to best fit your personal needs and preferences. You can certainly utilize both types of cards, we just wanted to remind you and help you understand how to best use them.
