Difference Between Debit Card , Credit Card and ATM card
What is an Automated Teller Machine (ATM)?
ATM stands for Automated Teller Machine. It’s a specialized computer that makes it convenient to manage your money. For example, almost all ATMs allow you to withdraw money, and many allow you to make deposits. At some ATMs, you can print a statement (a record of your account activity or transactions); check your account balances (the amount of money in your accounts right now); transfer money between your accounts; and even purchase stamps. You can usually access the most services at an ATM that’s operated by your own bank.
Why use ATMs?
ATMs are a safe and convenient way to manage your money. There are millions of ATMs worldwide and you can use many ATMs 24 hours a day, 7 days week. Some allow you to select the language you want to use.
Difference Between Debit Card ,Card and ATM card-
ATM cards-
An ATM card is a PIN-based card. That means that in addition to using it at ATMs, you may also be able to use it to make purchases (by entering your Personal Identification Number) if the merchant is using one of the same electronic ATM networks that’s listed on the back of your card.
Debit Card-
Debit Card allows customers to make payments which get directly deducted from the account on a single tap.
In terms of utility, it is the same as a Credit Card, meaning Debit Cards can be used in the same manner to make payments. However, in the case of Debit Cards, you use your own money, unlike borrowed funds in Credit Cards. With Debit Cards, you can access your account at various payment outlets across the country to pay for your purchases and to pay your bills online. Therefore, it eliminates the need for carrying physical cash.
You might be wondering then what is ATM Card and if it is different from Debit Cards, but they are the same thing. Since Debit Cards also offer a means to cash when needed, they are often referred to as ATM Cards.
Most of the Debit Cards are associated with either a Visa or a Mastercard. You will see a logo of either of these two major companies on your Debit Card. To make payments at the store, or to withdraw money, or to make other monetary payments, you will need to make an input of your Debit Card PIN either at the store, ATM or online.
Credit Card-
A debit card is not a credit card. When you use a debit card, the money is deducted from your checking account. With a credit card, you’re borrowing money to be repaid later.
ATM and debit cards allow you to use ATMs, a safe and convenient way to manage your money. There are millions of ATMs worldwide and you can use many ATMs 24 hours a day, 7 days week. ATM and debit cards are also a convenient way to make purchases without carrying cash that help you keep better track of the money you spend.
Rupay card -
which is used only in india.rupay card is made by indian government.
when in india there is only master and visa card which takes more tax from per transaction of indian people so indian government launched rupay card so tax money keep in india only and make secure transaction.Rupay card works only works in india.
Master card-
VISA card-
Which card we should have to used-
it is totally based on your transaction where you make transaction if you are in indian and your all transaction is in india then Rupay card is best option for you.
and if you have to make transaction or pay money in india as well as other countries then you have to take master and visa card if you goes in other country then rupay card does not work. Rupay card works only works in india.
0 Comments