ATM card

An ATM card, also known as a bank card, cash card, or debit card (although a debit card can have broader functionality), is a plastic payment card that allows a cardholder to access their bank account(s) at an automated teller machine (ATM). It enables users to perform various self-service banking transactions, such as cash withdrawals, balance inquiries, and fund transfers between linked accounts.

The card typically contains a magnetic stripe or EMV chip that stores the cardholder's account information and a personal identification number (PIN). When inserted into an ATM, the machine reads the card data, prompts the user for their PIN to verify their identity, and then allows them to conduct transactions based on the available functions.

The use of an ATM card is usually limited to ATMs owned or affiliated with the issuing bank or financial institution. However, participation in ATM networks allows cardholders to access ATMs from other banks or institutions, often incurring transaction fees. ATM cards can be linked to checking, savings, or credit accounts depending on the issuing bank's policies and the type of card.

While often used synonymously with debit cards, an ATM card's functionality is typically restricted to ATM transactions, while debit cards can also be used for point-of-sale (POS) purchases in stores and online. However, in some regions, the terms are interchangeable, and the ATM card might also function as a limited-use debit card. The specific features and capabilities of an ATM card are determined by the issuing bank or financial institution. Security features such as fraud monitoring and daily withdrawal limits are commonly implemented to protect cardholders from unauthorized use.