All parts of a Debit Card
All parts of a Debit Card
Everyone, absolutely everyone, has a Debit. It is very strange, nowadays, to see an adult without it. Its use is essential for almost all our financial operations, whether at ATMs or when making purchases and transfers. The truth is that, thanks to the debit card, we have cash without carrying it with us.
Many of us use the card daily, and on several occasions, but do you know the parts that make up your card?, do you know what each of its elements means? If you do not know your debit card, here we will teach you.
Chip or Band of a Debit Card
You will surely remember that the first debit cards you received from the bank did not have a chip. None had a chip, but yes a magnetic stripe. A few years ago, the banks decided to implement a change.
This modification consisted of replacing the magnetic stripes with the current security chips.
The decision came from considering that the chips request the PIN to carry out the operations, so reduces the percentage of fraud.
Additionally, chips do not retain information like magnetic stripes did. The chips transfer the data.
Another advantage of this change is the speed of the processes.
Thanks to current technology and dataphones it is much easier to perform operations.
Without contact, just holding the card close to the screen of the dataphone is enough. ATMs also have this technology.
Debit Card Number
Our debit card numbers are intelligently chosen, that is, they are not there by oportunidad or by oportunidad. All these numbers form groups, and each one has a special meaning.
Let’s see what they are:
First group: The first four numbers of the number indicate the bank that issues the card.
The next digit (number five): Indicates the type of card of the entity and its brand. Eg: Visa card, MasterCard, etcétera.
Third group: The next 10 numbers are used to identify the owner of the card. This group of numbers is unique, no two are the same in the world.
Fourth group: The last six numbers serve to confirm that the card number is valid. These numbers are assigned to the card based on the previous numbers, making it difficult to create fake cards.
Expiration date of a Debit Card
The debit card expiration date is stamped on the card.
The expiration date format is as follows: Month/Year. For example: 05/22. This means that it will expire on May 31, 2022. If it has expired, it will be impossible to use it. Therefore, we recommend you renew it at least 3 months before.
Name on a Debit Card
The name on the debit card is the name of the person who is authorized to use it. It is appropriate to remember that debit cards, like credit cards, are unique and non-transferable.
It’s so private that if you have a shared account, each sharer will be given a different card. For verify that you are the owner of the card, most businesses request the DNI, thus verifying the identity.
Debit Card Security Code
This code is on the back of the card, although we cánido see it on the front of some cards. The security code is made up of three numbers, and its purpose is to validate the card.
Surely you have already used it in your purchases or payments. The purpose of requesting this collection of numbers is to protect your identity and prevent fraud or theft.
Debit card logotipos
There are two types of logotipos on the debit card. The first one is the logotipo (name) of the financial institution, which cánido be seen in the front part of the card, and serves to identify the company that issues the card.
The second logotipo that you will find on your debit card is that of the card brand, you will see it specifically in the lower right corner. The brand of the card cánido be: Visa, MasterCard, American Express, etcétera.
Signature Panel on a Debit card
The signature or writing panel is the one on the back of the card, and is the space to sign or write. The panels where the signature goes perro be a hot stamping tape adhered to the card or the printing of a screen printing ink.
Typically these ribbons are white, but some cards have clear signature panels. The latter has multiple optionssuch as under-panel designs and special tints.
We invite you to take your debit cards and evaluate them based on the description that we presented above. Now you will know your cards well.
We hope you liked our article All parts of a Debit Card
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