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is ATM card and debit card same?

 While ATM cards and debit cards are similar in many ways and are often issued by the same financial institutions, there are key differences between the two:

ATM Card:

- An ATM card is primarily used for accessing an individual's bank account at an ATM (Automated Teller Machine) to perform basic transactions, such as withdrawing cash, checking an account balance, or transferring funds between accounts.

- It is linked to a specific bank account, typically a checking or savings account.

- An ATM card usually does not have the capability to make purchases at merchants or online, as it lacks the necessary features for point-of-sale transactions or online payments.

Debit Card:

- A debit card, on the other hand, is a multipurpose card that can be used for both ATM transactions and for making purchases at merchants, online, or over the phone.

- In addition to the ATM functionality, a debit card is equipped with a payment network logo (e.g., Visa, Mastercard, Discover, American Express) that enables it to be used for transactions wherever that payment network is accepted.

- When a debit card is used for a purchase, the funds are deducted directly from the cardholder's linked bank account, similar to an ATM card. However, unlike an ATM card, a debit card can also be used for point-of-sale transactions, including at retail stores, restaurants, and online merchants.

In summary, while both types of cards allow account holders to access funds from their bank accounts, an ATM card is limited to ATM transactions only, while a debit card offers more versatility for both ATM transactions and purchases at merchants and online.

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