I have an ATM card. It means the only way I can access my money is by withdrawing it from an ATM machine. I use it when Im in euopean countries, because they charge me when I use my debit card and credit card.
But I use my credit card when Im in places like Egypt, cos they charge me (a lot) to use an ATM machine.
My advice would be, Find out if the coutry you will be visiting charges for using ATM machines, find out the charges to Debit and Credit Cards, and use the card that wont cost you as much.
Some credit cards have travellers permission where if you ring the credit card company they will put a time band for you visiting a particular county. This can also help to reduce charges (and stop fraud)
>>> ATM Card= Can only be used at an ATM Machine
>>> Debit Card= Can be used in shops as well as at an ATM Machine
[ Edit: Edited on Jan 12, 2007, at 2:55 AM by PirateDani ]
an atm card is the card yoy put into the atm and it gives you money out of your bank account, you also use it for eftpos
everyone knows how a credit card works right?, you use it to pay for stuff with money that you dont have ( you pay the bank back later), you can use it to draw out cash from the atm but its still not your money its just credit.......and charged at a larger interest rate than if u just buy somthing with the card.
a DEBIT card is basicly a cross of the two, you can use it in the atm to take money out of YOUR savings account, but it has a number on the front similar to a credit card so you can buy stuff over the phone etc, but it is taken directly out of your account, which is the difference form the credit card, hence if you have no money in your account you cant use it to pay for stuff.
i hope we are all on the same page now lol
okay now i know why people are getting confused.
atm card isnt exactly a particular card...
people here obviously have bank accounts that are known as (basic bank accounts) in some cases its just a bank card! not a debit card!
its a bank card that offers very limited services were it can only be used at atm machines...people tend to call it a atm card because thats all you can do with it is use it at atm machines...but the real answer is that the money that comes from this account is a VERY VERY BASIC BANK ACCOUNT! thats how banks know it as.
banks normally only give these cards out for to 2 kinds of people 1) You are in debt and have been recently declared bankrupt 2) you have come from another country and are on a 2 year working visa.
in the UK you have to be in the country for at least 6 months before your account can be upgraded to a normal debit card which means upgrading your bank account to a normal current account! this is why not everyone who lands in the uk can just get a CURRENT ACCOUNT but a BASIC ACCOUNT were you can just do basic stuff. also depends what country you are from....similar to visas...
most people need any kind of bank account so that there employers can pay them...in a lot of jobs you cant be employed without having a bank opened first! thats for the crappy jobs out there.
with basic bank accounts like these you cant set up standing orders or direct debits, cant purchase stuff over the counter or web...basically these kind of cards are useless!
if you use up your daily limit and spend it you cant purchase or do anything for another 24 hours...unlike a debit card you can max out your daily withdrawl limit but you can still purchase over the counter by a swipe / pin...
its beyond me why anyone would have such basic accounts!
visa debit card is the best...a debit card can prove to be excellent too! but visa debit card is better because it is accepted everywhere just like visa and mastercard..they are the same!
[ Edit: Edited on Jan 12, 2007, at 3:52 AM by oslaue ]
Ok I havent read through the whole thread so the question might have been answered, but there seemed some people were confused with ATM/Debit cards.
An ATM card can only be used to get cash out of the ATM. It is sometimes called a cash card. You cannot use it to buy things in a shop. It is connected to your bank account.
A debit card is also connected to your bank account. It has the same features as an ATM card (i.e. take cash straight from your bank account). But you can also use a debit card like a credit card, and pay for things over the counter. the money will come straight out of your bank account.
Debit cards are loads better than ATM cards. I would never just get an ATM card. In the UK at least debit cards can be VISA. All my bank accounts have VISA Debit cards. I would never take VISA Electron abroard. It doesnt work everywhere in the UK so wouldnt risk it abroard.
Basically, take your credit card and DEBIT card. Make sure the debit card is a VISA. Don't bother with Switch or Electron.
Hope that helps!
of course the other way to do it is to take travellers cheques and cash
Up until my current trip I was a big fan of using by Debit card in ATMs. Unfortunatly, due to the ID fraud protection of some banks, after taking cash out in two countries in 3 days then trying to get cast in a third country on day 5, my bank decide to freeze my card. I managed to call them, confirm who I was and that I did in fact take the money out in those places but they still decided my card was compromised and therefore cancelled my card. For two weeks I have had to use my credit card for everything, including cash advances which I don't like due to the charges associated.
In summary, I say, take a debit card and use ATMs, but let your bank know you are doing it and also have an alternative, be it credit card, cash or travellers cheque. Going forward with technology appears to be taking travellers back 10 years in the way we carry our money.
Your bank is funny. I've heard that banks will temporarily freeze a card and/or account with suspicious activities. But yours proceeded to freeze your account after your call? Did you give them advance notice before your trip? ATM transactions require a PIN and Credit transactions require signature and identification (if local regulation mandates it). I've used ATM/Debit and credit cards during all my trips in Europe and never had a problem.
I've had similar problems with my bank freezing my account when travelling. It's odd that they did that to you after you called!
I never, never, never put anything with credit card numbers into an ATM when I travel. Not just because of the scam where it "gets stuck," and then someone comes along after you to take it, but I've had my card stuck in an ATM here in the States. I wouldn't want to leave a credit card in a machine. At least if I'm home and it happens, I can do something about it right away/go down the next day if it's after hours, etc. But I use only ATM cards in machines when I travel. Your bank will slap you with some crazy fees, but you also get the best exchange rate automatically. Plus, I don't like carrying around loads of cash (who does?), and I've never been a fan of travellers cheques.