Page 49 - Book6E

Typically, an ATM card is used at Automated Teller Machines (ATMs), which process checking and savings account withdrawals and deposits, credit card cash advances, and some types of payments (utility bills for example). In most instances, ATM cards can also serve as debit cards, and vice versa, but not always. As you’ll read in the following “12 Helpful Tips for Using Your Debit Card Wisely,” it’s important to know which type of debit card you have.
Bankrate .com offers the following 12 helpful tips for using your debit card wisely:
1. Know which type of debit card you have, and ask your bank whether you have a choice. Some consumers have complained that the bank changed their ATM cards to debit cards that do not require personal identification numbers without letting them know.
2. Always protect your ATM card and keep it in a safe place, just as you would cash, credit cards, or checks.
3. Do not leave your debit card lying around the house or on your desk at work.
4. If your card is lost or stolen, or if you suspect it is being used fraudulently, report it immediately to your bank.
5. Close your account and ask your bank for a new account number and PIN.
6. Hold on to receipts from your debit transactions. Don’t throw them in public trash cans or even in your own trash without first shredding them. Crooks have been known to “dumpster-dive” for documents that have account numbers and other personal information.
7. Memorize your PIN, and do not write it on your card.
8. Don’t choose a PIN a smart thief could figure out, such as num- bers corresponding to your birth date or your phone number.
Using Debit, Check and ATM Cards 41