Most of the banks in the world today offer the services of the ATM card to their customers. This is done in order to enable them to withdraw money from their accounts with the bank through the ATM machines, any time, twenty four hours a day and on all days of the week. In this hectic, fast moving world, where one has no time to stand and stare; where there are deadlines to be met and where the overall environment is that of “high-speed”, ATM cards are a boon to mankind as they save precious time.
ATM cards, as they are popularly referred to, are actually Automated Teller Machine cards. When the ATM card is initially given to a customer, he is provided with a ‘Personal Identification Number,’ which is most commonly referred to as the ‘PIN’. These plastic cards containing the unique number cards provide for self-serviced banking transactions and do not require the services of a bank teller or a clerk. The PIN is a password given by the bank in order to electronically aid the customer’s access to his account with it. Once this PIN number is received by the customer, it must be immediately changed by him for reasons pertaining to his own safety. Now he can withdraw the requisite amount of money.
In order to make use of the Automated Teller Machine, the customer needs to know the member banks that are associated in a network with his bank that has provided him with the ATM service. He can make use of the card at any of these banks for a stipulated number of times per month. There is every possibility that if he withdraws money from a bank that is outside the aforementioned inter-bank network, he has to pay a certain fee as charges for use of its ATM. Generally, the amount charged appears on the terminal screen of the Automated Teller Machine.
The customer’s monthly bank statement will carry all details of the withdrawn money through the ATM. He can cross-check the amount and track his expenditure. After every transaction, he should not forget to take the ATM receipt. All such receipts may later be reconciled month-wise, with the bank statements.
If it happens that the ATM card is missing and money is withdrawn through it from his account without his authorization even before he has used it, then he has to report the same immediately to the bank that issued it to him. In such a case, generally, he will not be held responsible for the withdrawn amount.
If his ATM card gets lost, he has to urgently convey the same to his bank in person or by phone. Toll-free numbers can also be used for contacting the bank. If he causes delay in informing about the loss, his liability increases as per the increased number of days of reporting since the loss, according to Federal regulations. In some cases, he may stand to lose all the money that was in his account if long delays are involved.
For More Information visit: http://www.profitconfidential.com/
ATM cards, as they are popularly referred to, are actually Automated Teller Machine cards. When the ATM card is initially given to a customer, he is provided with a ‘Personal Identification Number,’ which is most commonly referred to as the ‘PIN’. These plastic cards containing the unique number cards provide for self-serviced banking transactions and do not require the services of a bank teller or a clerk. The PIN is a password given by the bank in order to electronically aid the customer’s access to his account with it. Once this PIN number is received by the customer, it must be immediately changed by him for reasons pertaining to his own safety. Now he can withdraw the requisite amount of money.
In order to make use of the Automated Teller Machine, the customer needs to know the member banks that are associated in a network with his bank that has provided him with the ATM service. He can make use of the card at any of these banks for a stipulated number of times per month. There is every possibility that if he withdraws money from a bank that is outside the aforementioned inter-bank network, he has to pay a certain fee as charges for use of its ATM. Generally, the amount charged appears on the terminal screen of the Automated Teller Machine.
The customer’s monthly bank statement will carry all details of the withdrawn money through the ATM. He can cross-check the amount and track his expenditure. After every transaction, he should not forget to take the ATM receipt. All such receipts may later be reconciled month-wise, with the bank statements.
If it happens that the ATM card is missing and money is withdrawn through it from his account without his authorization even before he has used it, then he has to report the same immediately to the bank that issued it to him. In such a case, generally, he will not be held responsible for the withdrawn amount.
If his ATM card gets lost, he has to urgently convey the same to his bank in person or by phone. Toll-free numbers can also be used for contacting the bank. If he causes delay in informing about the loss, his liability increases as per the increased number of days of reporting since the loss, according to Federal regulations. In some cases, he may stand to lose all the money that was in his account if long delays are involved.
For More Information visit: http://www.profitconfidential.com/
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