A Complete Guide on Debit Cards

Did you do an online transaction any time recently? Then you would agree with the fact that it is easy to do online payments via UPI, Credit Cards or Debit Cards. And more importantly, you don't have to worry about carrying cash.  If you have a Debit Card, you can also carry out a Point of Sale (POS) transaction. Indeed, Debit Cards have replaced cash transactions. But there's more to it than just being used as a payment mechanism or an ATM Card.

So, below are some critical questions people usually have related to Debit Cards.

Debit Card, also known as ATM Card or Payment Card, is a plastic card that is provided to you after you open a Savings Account with any bank or financial institution. You can use it for cash withdrawals at ATMs and for daily transactions be it online of offline. Today, customers do not need to carry cash for daily spending since offline card transactions have become more seamless with contactless payments.

A Debit Card is issued by a bank in collaboration with Visa/RuPay/Mastercard – the  card network  companies. Every Debit Card has a unique 16-digit number on either side of the card. It also has a CVV number on the back.

Read More:  What is a Debit Card

A Debit Card number is 16-digit combination that is embossed on the front or back of the card.

The first 6 digits represent the Issuer/Bank Identification Number. These digits are unique to the issuing companies, which are provided by the card network companies. The digits from 7 to 16 are unique to the customer which are linked to the customer’s account.

Just like CVV, a Debit Card number also needs to be protected from potential threats as it is significant, especially when you are doing online transactions or payments via POS terminals.

You can find the masked card number on the welcome kit, bank mini statement and NetBanking.

The full form of CVV is Card Verification Value. A CVV on a Debit Card is a three-digit confidential number that is present on the backside of the card. For some Debit Cards, CVV can be a four-digit number. Whenever you are doing an online transaction, you are required to enter CVV.

The purpose of CVV on a Debit Card is it helps to protect your card from unauthorised use, fraud and theft. Also, it should not be confused with the Debit Card PIN or ATM PIN, as the PIN is used only for ATM & POS transactions, while CVV is crucial for online payments.

Anyone who has a Savings/Current Account with a bank or financial institution is eligible for a Debit Card. In most cases, the card is given by default by the bank to enable easy cash withdrawal, online payments and others. For instance, if someone opens an AU Savings Account - Value with AU Small Finance Bank, then the account holder is eligible for a Visa Gold Debit Card.

But there are times when you may not have received a Debit Card even when you hold a Savings Account. In such cases, you can still apply for it directly with the bank.

Once you apply for a Debit Card, it may be delivered to your address within 7 working days from the date of opening a Savings Account.

If you have noticed, a Debit Card usually has the month and year mentioned on the frontal side. This is nothing but the expiry date, which can be around 2 to 7 years from the issuance date of the card. Whenever a Debit Card is close to the expiry date, the bank re-issues a new one automatically.

You can activate your AU Bank Debit Card in three ways – By visiting an AU Bank ATM, through the Debit Card Services Section on the website or through IVR.

Visiting an ATM:

Step 1: Visit the ATM, insert your Debit Card and click on ‘Generate New PIN’

Step 2: Enter your new 4 Digit PIN

Step 3: Click on ‘Submit’

Via Debit Card Services:

Step 1: Visit the ‘Debit Cards’ Section on the AU Bank Website

Step 2: Click on ‘Know More’ under ‘Generate Debit Card PIN’

Step 3: Enter your customer ID & card details to generate OTP

Step 4: Enter your new PIN & click on ‘Submit’.

Via IVR:

Step 1: Call on the customer care number of the bank & provide card details as instructed.

Step 2: Once verified, follow the steps as narrated to set your PIN

Read More: How to Apply for a Debit Card

Yes. You can activate your Debit Card using the NetBanking method/Debit Card Services option on the website from the comfort of your home. 

• Readily accepted

• Easy to avail

• Ability to withdraw cash from ATMs

• Enables quick transactions online & offline

• No debts

Read More: Features and Benefits of Debit Cards

Do you already have a Savings Account with AU Small Finance Bank but have not received a Debit Card? You can easily apply for a Debit Card with us.

We offer a range of Debit Cards, including AU Royale Business Debit Card, AU Royale World Debit Card, AU Royale Debit Card, AU Visa Platinum Debit Card, AU Visa Business Platinum Debit Card, AU RuPay Platinum Debit Card, AU RuPay Classic Debit Card, AU Visa Business Gold Debit Card & AU Visa Gold Debit Card.

Check these out: AU Debit Cards

For the application process, you can visit our nearest branch office or call our customer care @ 1800-1200-1200.

Sources:

https://www.bankrate.com/finance/credit-cards/why-do-debit-and-credit-cards-have-expiration-dates/

https://mgtblog.com/what-happens-if-i-dont-use-my-debit-card-for-a-long-time/