In this article, we’re answering “is a debit card and an ATM card the same?”
But, instead of making you wait for the answer we want to start by sharing that these two cards are not the same.
In the sections below, we will provide further details about these two cards, their differences, similarities, and answer common questions we receive about them.
This article is part of our free series on banking basics, ranging from how to open accounts to higher interest rates, which you can access by clicking here right now.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Is Debit Card and ATM Card Same?
- Difference Between a Debit Card and a ATM Card
- Should I Get a Debit Card or ATM Card?
- Frequently Asked Questions
- Ready to Explore Your Options?
Is a Debit Card and an ATM Card the Same?
No, a debit card and an ATM card are not the same. Despite what many people think, a debit card can be used for cash withdrawals and both online and in-person transactions. On the other hand, an ATM card can online be used for cash withdrawals. While not all banks offer ATM cards, certain banks in certain countries (like India) still offer ATM cards to customers.
Difference Between a Debit Card and an ATM Card
The main difference between a debit card and an ATM card is that you can use a debit card to withdraw money from an ATM, make in-person purchases, and complete transactions online. On the other hand, an ATM card can only be used to withdraw money from an ATM. In other words, an ATM card is much more limited in functionality and the benefits that it can offer a cardholder.
Debit Cards
Debit cards are tied to the card holders bank account, which may include a savings, current, or checking account. Additionally, the cardholder can use a debit card to withdraw funds, complete purchases in person, and transact online.
ATM Cards
ATM cards are essentially cash cards that can be used solely for withdrawing funds from the cardholder’s account. In other words, ATM cards offer no other functionality than the ability to access money. So, they cannot be used to complete retail or online purchases.
Should I Get a Debit Card or ATM Card?
Should you get a debit card or an ATM card will ultimately depend on your specific goals. For example, if you only need to withdraw funds and access account information from ATMs, then an ATM card may be suitable for you. On the other hand, if you need to use the card to make purchases online or through point-of-sale terminals at retailers, you should consider a debit card instead.
Here is a closer look at the specific benefits offered by both options.
Benefits of a Debit Card
Benefits of a debit card include the ability to withdraw funds, access account information, and manage your bank account without visiting a branch. Additionally, debit cards allow individuals to make purchases through point-of-sale terminals at retail locations and online via e-commerce websites.
Benefits of ATM Card
Similar to debit cards, the benefits of an ATM card include the ability to withdraw funds, access account information, and manage your bank account without visiting a branch. That said, you will not be able to use your ATM card in the same way that you can use a debit card, to make purchases via point-of-sale terminals or online via e-commerce websites.
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Frequently Asked Questions
Below are three of the most common questions we receive from people comparing debit cards atm cards. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What Is an ATM Card?
An ATM card is a form of cash card that allows the cardholder to withdraw money from ATMs. In other words, it allows the cardholder to access funds from a wide network of machines. However, unlike debit cards, ATM cards can only be used for cash withdrawals. In other words, the cardholder cannot use an ATM card for payment at retail locations or through payment processors.
Can I Use My Debit Card at Any ATM?
Yes, you can use your debit card at any ATM that is connected to your card network. Additionally, if your card is issued on one of the major card networks like Mastercard or Visa, you will be able to withdraw funds at most ATM locations. However, it’s important to note that you may be charged significantly higher fees when withdrawing funds at an ATM that is outside of your bank’s own network of ATMs.
What Is a Debit Card?
A debit card is a type of payment card that allows money to be transferred from the cardholder’s account to a third party. This is typically done through the use of a payment processor. In most cases, a debit card is tied to an account holder’s checking account. However, it is possible for debit cards to be connected to savings accounts as well.
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