The benefits of ATM debit cards

Posted by Felix Okoli on Thursday October 17, 2013 at 12:42:4:

ATMs, also known as Automated Teller Machines have actually come to stay in our society today. While the ATM cards or debits cards are cards which are used to perform transactions on the ATM. Such transactions which range from transfer of cash, withdrawal of cash, checking account balances and bill payments. Any bank one goes to most likely has an ATM gallery and there may be lots of people queuing up to make use of this machine. These ATM was introduced to make life easier for banking customers. Though there are disadvantages of having a debit card, which is excessive spending by the owner if not controlled, this article would review some benefits of having an ATM card:

BENEFITS OF AN ATM OR DEBIT CARD
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- Use of ATM saves time: In early days, everybody who has a transaction to make has to get to the banking hall, in other to get some transactions done. But with the introduction of the ATM cards, you can easily work into any ATM stand near you and get such transactions done. Whether it is to withdraw money, or to transfer money to another person’s account or checking account balance, it can be easily be done in the ATM.

- Online Buying: When you want to make a purchase online, instead of going through the hassles of paying through bank transfer to the sellers account, You can simply enter your debit card details which is debited immediately while your goods are sent down to your location. It makes online transactions very easy.

- It helps in times of emergency: With your debit card, you can simply work into an ATM stand and withdraw cash for emergencies without having to carry to bulk of cash around with you anywhere you go. This allows you access to cash on Sundays and other holidays when banks may be closed. So with your debit card with you, you know that you are very much covered.

- Avoids withdrawal fees: In Nigeria, in order to encourage customers to make use of there debit cards, customers who do not have debit cards, but withdraw over the counter are charged some extra fees and these fees when accumulated after a while can turn to huge amount of money being wanted. So the debt card helps you prevent such unnecessary expenses.

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Re: The benefits of ATM debit cards Reply by Nurudeen on Friday October 18, 2013 at 9:10:56:

Good day sir thanks for all your enlightments.This is not comment but question and here is my question.I have a savings acc with First Bank and Gtb respectly.Is it possible to transfer from my First Bank to my Gtb by using atm card and without internet banking?And when acc had been classified Dormant what are the steps to re-open it? Please I need answers in your future post.Thanks




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Re: The benefits of ATM debit cards Reply by Felix Okoli on Friday October 18, 2013 at 9:10:56:

I don't think banks have made that option possible yet. What I know for now is that you can use ATMs to pay bills and withdraw money. Maybe, they would be some special ATMs that allow that option but it is not common. If an account is dormant, you should just visit your customer service and fill a dormant account reactivation form and you would also deposit some money to the account. You don't have to pay any fee to reactivate your account.


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Re: The benefits of ATM debit cards Reply by Faidat Akinwale on Monday June 16, 2014 at 13:14:16:

What Are The Reasons,advantages Of ATM cards in Nigeria




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