ATM Card Information
An ATM card gets its name from the Automated Teller Machine. It is issued by banks to their customers so that they have easier access to their money, whether it's from ATM machines, at physical bank branches, or in stores that accept payment from the cards. Customers can use cards to perform withdrawals, deposits or access their own account information.
What's On It
- On the front of the ATM card is listed three vital pieces of information: Your name, your 16-digit account number, and the month that your card expires. On the back of the card is a magnetic strip that holds information about your card, as well as a place for you to put your signature. Many places will not accept the use of an ATM card without a signature on it. Next to the signature is a four-digit number that represents the last four digits of your account number, and then a three-digit number, representing your Card Security Code. The CDC is important for making online purchases.
PIN Number
- When using an ATM or making a purchase at a store, customers will be asked to first slide their card into a card reader. They will then be prompted to put in their four-digit pin number. The pin number is a password that the customer creates (either over the phone or in person at a bank branch) so that they will be the only one able to use the card. Make sure to write down your pin number and keep it in a safe place in case you forget it.
Activation
- When you first get your ATM card in the mail, before you use it you must first activate it. To do this, call the toll free number located on a sticker on the actual card itself. It will ask you to type in your account number and PIN number. When you do, your account will now be activated and you can use your card.
Online Payment
- Customers can also use ATM cards to purchase goods online. To do this, enter your account number when prompted to on the website. You will then be asked to located the Card Security Code (or CSC) on the card to confirm your purchase. This is three-digit number located on the back of your card.
Security
- If you lose your ATM card, make sure to call your bank institution immediately to cancel your card. Thefts by people using someone else's ATM cards are common so it is best to make sure you cancel the card as quickly as you can. After the card is canceled, you will be sent another card in the mail that you will then need to activate before it can be used.
References
- Photo Credit atm image by Franc Podgor...¡ek from Fotolia.com
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ATM cum Debit Cards - Precautions For Secure Card Transactions
- Change your PIN after first usage & periodically after that.
- Never keep the PIN with the card. Never write it on the card. Best to memorize it.
- Hide keypad with one hand while keying in your PIN at ATM / POS terminals.
- Do not let strangers come in to the ATM room while you are doing your transaction, and do not take help of strangers at ATM.
- Block and destroy your old card, when you get a new one.
- Insist on swiping your card in your presence in hotels/shops/malls etc.
- Don't throw your transactions slip in ATM room.
- Don't transact if you observe any attachments or unusual devices connected to the ATM.
- Check your account statement periodically.
- If you lose your card Hot list it immediately. Call 1800-112211.
- Do not provide ATM card & PIN details to anyone, not even to the Bank / IBA / RBI / Govt. Agency. Bank or any other institution will never ask for this information.
- Register your Mobile number at the ATM / Branch to get SMS alerts for all transactions above Rs.5000/-.
Your ATM Card and Identity Theft
For years now the line has been blurred between credit cards and ATM cards (or debit cards). Although they work the same at the store's Point-of-Sale machine (POS) and your bank machine, or automated teller (ATM), from the identity theft perspective there's a huge difference, although both types of cards can by stolen by "skimming". Just because your card has a Visa or MasterCard logo in the bottom corner is no guarantee that your money is safe.
A Costly Difference
When you swipe a credit card at the grocery store or gas pump, the credit card company pays the bill, and lets you pay them back over time. When they came out with the idea, it was a great way to protect your money, because you didn't have to carry cash anymore. If your credit card was stolen, you could just get another one. Of course, today it's a completely different story. If someone steals your credit card they can rack up a huge bill and you will probably spend a lot of time and energy trying to clean up the mess. Otherwise, you may get reported to the credit reporting authorities (or CRAs) like Experian, and have a hard time getting credit in the future.
But the important thing to remember about credit cards is that when you use them, you are making a promise to the credit card company that you will pay them. In other words, you aren't spending your money yet.
When you swipe your debit card, you are giving the gas station or Wal-Mart access to your bank account so they can take the money for your purchase. Once your money is gone, you may have a hard time getting it back. In fact, once you report your ATM card has been stolen, it can take two months to get your money back. And that only if the banks investigation goes your way.
Low Tech ATM Scams
Some identity thieves like a low-tech approach, trying to steal your ATM card by putting a piece of plastic or glue in the card slot. This can cause the ATM to repeatedly ask for your PIN, making it easy for someone to look over your shoulder while you're typing it in. With the glue in the card slot, the card may get stuck in the ATM. The identity thief is usually standing behind you waiting to use the machine. When they see the trouble you're having, they become very helpful and say something like, "This machine always does that. Just type in your PIN three times and it will release your card." Of course this doesn't work, so they offer to watch the machine while you go get help. As soon as you're out of sight, they will pull a pair of tweezers or needle-nose pliers out of their pocket, snag your card, and go shopping.
Obviously, if you are having trouble with an ATM machine, be cautious who you trust if you have to walk away from it. A security guard or police officer is usually your best bet.
High-Tech ATM Scams
Card "skimming" is a popular way for identity thieves to get your ATM card information. Sometimes they put a device on the ATM machine itself. The skimmer looks like part of the machine, and can be tough to spot. When you put your card into the machine, it passes through the skimmer first. When your transaction is done you get your card back none the wiser. The identity thief will collect the skimmer later, and your card number with it. Or, the skimmer may have a miniature blue tooth device. If this is the case, the identity thief doesn't even have to collect the skimmer but just get close enough to download the information.
Recently, skimmers have been found on gas pumps as well.
Or maybe you are at dinner with your family and give the waiter your card to pay the bill while you finish dessert. He can take a picture of the front and back of your card with his camera phone while the card is running at the cash register. He might use it himself, or just text it to a friend across the country. Either way, it will be used quickly and discarded.
Common Sense Tips
Don't trust anyone else with your card. If you hand it to a cashier, waiter/waitress, or customer service rep, keep them in sight. And remember, if you let someone else use your card and they spend more than you wanted them to, it will be almost impossible to get your money back from the bank. Even credit card companies will make you pay for an authorized user "overspend".
Don't trust a stranger. Good Samaritans still exist, but many identity thieves will pose as someone willing to help in a time of need.
Use a credit card instead. It's a bit easier to tell the credit card company you are going to pay a bill that it is to get your money back from the bank, even with the laws that are in place to protect consumers.
Use cash instead. After all, if an identity thief gets away with money all you have lost is the money she took. Most places still take money and you usually don't have to have ID.
Look around for cameras. If you can see a camera where you are using your card, chances are good it would-be identity thief will be on film placing a skimming device. This doesn't guarantee safety, but identity thieves tend to be camera shy for obvious reasons.
Use trusted ATMs. Your best bet is to use the machines at your bank. Another bank is your best second choice. Use stand-alone ATMs only when you have to.
Your phone is your friend. Storing the phone numbers for your bank and credit card companies on your phone lets you contact them immediately when something happens to your cards. Communication is the key to dealing with your bank if it happens to you.
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