The Benefits of an Online ATM Card

Today, many banks and credit unions offer cards that can be used to make internet purchases.  However, while the standard ATM card has long been used only with ATMs to withdraw cash and make deposits, some cards can be used to buy online.  When used as a standard ATM card, you would have a PIN (personal identification number) that would allow you to visit ATMs all over the world and gain access to your checking and/or savings account.  However, thanks to technology, many ATM cards can now work like debit cards

Today, many banks and credit unions offer cards that can be used to make internet purchases.  However, while the standard ATM card has long been used only with ATMs to withdraw cash and make deposits, some cards can be used to buy online.  When used as a standard ATM card, you would have a PIN (personal identification number) that would allow you to visit ATMs all over the world and gain access to your checking and/or savings account.  However, thanks to technology, many ATM cards can now work like debit cards.

Today, many banks and credit unions offer cards that can be used to make internet purchases.  However, while the standard ATM card has long been used only with ATMs to withdraw cash and make deposits, some cards can be used to buy online.  When used as a standard ATM card, you would have a PIN (personal identification number) that would allow you to visit ATMs all over the world and gain access to your checking and/or savings account.  However, thanks to technology, many ATM cards can now work like debit cards.  Because of this, you have the benefit of using the ATM card online.[br]

Because many banks and credit unions now make it possible for you to use an ATM card online, you can shop at millions of websites from around the globe, make payments to your mortgage company, utilities companies, and a variety of other vendors, or buy merchandise with ease.  The one thing to remember is that purchases or payments made with a regular credit card would be against a line of credit but when you use an ATM card online, the money comes out of your bank account immediately, usually in real time.

Obviously, having the ability to use an ATM card online provides incredible convenience.  You could also think of this as an electronic check but without the cost of the checks or stamps and without the time to fill out a check and mail it.  Instead, you find the website for the company where you want to buy, choose the items, follow their requirements for making payments, and then use the ATM card online.  Of course, you always want to make sure the company is reputable and uses the latest technology for security so you do not become a victim of identity theft.[br]

As long as you shop through a company that uses the same networks, you can make whatever purchase you want.  Because more and more businesses realize the value of allowing people to use an ATM card online, this is typically not a problem.  Although using an ATM card online is common in North America, just one currently allows cards of this type to be used in the United States, as well as 50 countries.  Known as Maestro, you could get information with an online search or ask your bank or credit union for more information.

You will also find that businesses that let you use your ATM card online have a keypad that would require you to enter your PIN, just as you would do with a debit card.  Although the types of businesses now offering this service are expanding, you would commonly see ATM cards being accepted for purchases at grocery stores, restaurants, gas stations, and retail stores such as Sears, Wal-Mart, and Kmart.

Probably the greatest benefit of using an ATM card online is that you eliminate the need to carry both a debit and ATM card around.  Since the ATM card gives you access to your account from hundreds of countries and allows you to make purchases at brick and mortar stores, as well as online companies, the debit card could be eliminated.