ATM card
An ATM (Automated Teller Machine) card is a payment card issued by a financial institution, typically linked to a checking or savings account, that allows the cardholder to access automated banking services. Here are key aspects of ATM cards:
Functions and Features:
Cash Withdrawals: ATM cards enable users to withdraw cash from automated teller machines located at banks, retail outlets, airports, and various other locations. Users can access funds from their linked accounts using a personal identification number (PIN).
Balance Inquiries: Cardholders can check their account balance using ATMs, allowing them to view recent transactions and available funds.
Fund Transfers: Some ATMs and cards allow users to transfer funds between linked accounts or to perform other banking transactions such as depositing checks or cash.
Types of ATM Cards:
Debit Cards: Most ATM cards are also debit cards, allowing users to make purchases directly from their linked accounts at merchants that accept card payments. These cards typically require a PIN for transactions.
Prepaid Cards: Some ATM cards are preloaded with a specific amount of money, allowing users to spend only the available balance. Prepaid cards may not be directly linked to a bank account.
Security Measures:
PIN Protection: ATM cards require a personal identification number (PIN) for transactions, adding a layer of security to prevent unauthorized access to funds.
Lost or Stolen Card Protection: Banks and financial institutions provide customer service to block lost or stolen cards to prevent fraudulent transactions.
International Use:
Networks and Compatibility: ATM cards are often part of larger networks such as Visa, Mastercard, American Express, or local banking networks, allowing users to access ATMs globally.
Foreign Transaction Fees: When using ATM cards internationally, users may incur fees for currency conversion and out-of-network withdrawals.
Issuance and Usage:
Issued by Banks: ATM cards are issued by banks or financial institutions upon opening a checking or savings account. They are personalized and linked to the individual's account.
Usage Fees: Some banks charge fees for ATM transactions, especially for using ATMs outside their network.
Evolution and Integration:
Contactless Technology: Many modern ATM cards feature contactless technology, allowing for tap-and-go payments at compatible terminals.
Mobile Integration: Some banks offer mobile apps that allow users to access ATM functionalities, locate nearby ATMs, and perform transactions without physical cards.
ATM cards provide convenient access to banking services, enabling users to withdraw cash, check account balances, and conduct transactions at ATMs and points of sale. They have evolved to offer enhanced security features and additional functionalities for ease of use and flexibility in banking.
History of banking 