Customer care hotline Call 1800 10 888
Login to the new experience with best features and services
When you withdraw money from an ATM, shop online, and recharge your phone balance, which card are you using? An ATM card or a debit card? While most people think that an ATM card and a debit card are the same, they are not. You may not have known this because banks tend to issue an ATM-cum-debit card. However, there are certain fundamental differences between ATMs and debit cards. Let's dive in.
Understanding each card's function is essential to knowing the differences between ATM and debit cards.
A major ATM vs Debit Card difference is that you cannot use an ATM card to utilise your bank's overdraft facility.
The bottom line
The difference between ATM and debit cards boils down to their utility. An ATM card can only be used to withdraw cash from ATMs. At the same time, a debit card, in addition to withdrawing funds from ATMs, can also be used to make other transactions such as domestic and international purchases, bill payments, etc. So, a debit card serves the purpose of an ATM card and offers several other benefits.
Hence, it makes more sense to opt for a debit card than an ATM card. Depending on your bank, there may be different debit cards that offer different benefits and rewards. For instance, IDFC FIRST Bank Debit Cards may offer free airport lounge access, cashback rewards, complimentary accidental insurance, and more. They are designed to make your day-to-day transactions seamless and convenient.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.