atm card vs debit card
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1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
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In the Philippines, ATM (Automated Teller Machine) cards and debit cards are often used interchangeably, but there are some subtle differences:
ATM Card
1. *Primary function*: Withdraw cash from ATMs.
2. *Limited functionality*: Typically, only allows withdrawals, balance inquiries, and PIN changes.
3. *No Visa/Mastercard logo*: Usually doesn’t have a Visa or Mastercard logo, which means it can’t be used for online transactions or purchases.
4. *Security*: PIN-based security.
Debit Card
1. *Primary function*: Make purchases online or offline, and withdraw cash from ATMs.
2. *Multi-functionality*: Allows transactions like purchases, online payments, and bill payments, in addition to ATM withdrawals.
3. *Visa/Mastercard logo*: Typically has a Visa or Mastercard logo, enabling online transactions and purchases.
4. *Security*: PIN-based security, and sometimes requires signature or OTP (One-Time Password) verification.
Key differences:
– Debit cards offer more functionality and flexibility than ATM cards.
– Debit cards can be used for online transactions, while ATM cards usually cannot.
– Debit cards may have additional security features like OTP verification.
In summary, if you only need to withdraw cash from ATMs, an ATM card might suffice. However, if you want to make purchases online or offline, or enjoy more flexibility, a debit card is a better option.