There is a lot of difference between ATM, Debit and Credit cards, what is the difference between them and what is the specialty of which card?

Highlights

ATM card can be used in ATM machine only for withdrawing cash.
Credit card cannot be used in ATM card as it is not linked with bank account.
Money can be withdrawn from ATM with Debit card and online payment can also be done.

New Delhi. Nowadays, financial transactions through cards are very high. Due to the ease of transaction with the card, its prevalence has increased. This is the reason why now banks provide ATM card, debit card and credit card facilities to the customers. With these cards, it becomes very easy to make purchases from withdrawing money.

Many people still think of ATM card, debit and credit card as the same and believe that all three serve the same purpose. Even though these three look the same in appearance, but in reality they work differently. You cannot use an ATM card in place of a credit card. Similarly, all the work that can be done with a credit card cannot be done with a debit card.

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what is the function of atm card
Moneycontrol According to a report in the US, the ATM card can only be used in the ATM machine to withdraw cash. The ATM card is linked to your current account or savings account maintained with the bank. It can be used only in ATM machine. On this loan is also not given to the bank customers. If there is no ATM machine, then you cannot use ATM to withdraw money.

Debit card comes with many functions
Like ATM card, there is also a debit card. It has the logo of Mastercard, Rupay or Visa. It does two things. It can also be used to withdraw money from ATM machines and also at places that accept online payments and debit cards. In this, customers do not have to pay interest like a credit card.

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get credit by credit card
The bank does not provide credit card facility to all the customers. Shopping, online payments and other expenses can be done using a credit card even when you don’t have money in your account. However, interest has to be paid on this. It cannot be used to withdraw money from an ATM, as it is not linked to a bank account. At the same time, along with online payment, it can also be used at the place where RuPay, Master and Visa cards are accepted.

Tags: ATM card, Business news in hindi, credit card, debit card, Personal finance

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