In this post you will know what is the difference between atm, debit card and credit card. We use bank cards to withdraw money from ATM machines, make online payments, check balances. Using the card gives you the freedom to keep cash in your pocket and it is also good from the point of view of security. Our bank offers us many types of cards, you can choose any option according to your need.
Cards are used the most for cashless payments, you can easily keep these cards in your wallet. Taking care of some precautions, the use of cards is completely safe. Crores of accounts have been opened in India under Jan Dhan Yojana, in which RuPay debit cards have also been issued to the account holders. If you have some questions about bank cards, like how many types of bank cards are there, who can issue them, what is the difference between them, we have tried to answer them all.
There are three types of bank cards atm card, debit card and credit card. Out of these, you can get any card made by applying from the bank according to your need. Now the question arises here that which card is right for you, that is why we are telling you the difference between these three cards.
Difference Between an ATM, Debit and Credit Card
ATM Card
We use ATM cards to withdraw money from ATM machines. To withdraw money from the machine, you have to enter a four-digit PIN. The ATM card is linked to your bank account. The bank also charges you an annual fee for the service of the ATM.
Debit Card
Debit card works just like an ATM card. But this is some advance from ATM card, along with withdrawing money from ATM with debit card, you can also pay online payment and merchant shop by swiping the card. In this also you need a four digit PIN. Debit card is linked to our bank account, to use this it is mandatory to have balance in our account. There are many types of debit cards like – Rupay, Visa and Master Card. Debit card can be made by any person who has an account in the bank.
4 DIGIT PIN is used to withdraw money from ATM machine with debit card, while making online payment, you have to confirm the OTP password received on your registered mobile.
Credit Card
We can use the credit card for online shopping and at POS terminals. To use a credit card, it is not necessary to have a balance in your bank because with the credit card you do shopping on credit and later the bank recovers that amount from you. Credit card is not made easily, for this you have to fulfill some more conditions. To get a credit card, you must have a fixed income proof or some banks offer you a credit card even on fixed deposit.
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