OFFICE AUTOMATION – I MODERN OFFICE EQUIPMENT 11. ATMS & USE OF E-CARDS FOR BANKING TRANSACTIONS Now-a-days it is very necessary that one should know how to do banking using ATM card. Apart from ATM card, there are different variety of e-Card is also available in the market, which can be utilized for doing banking transactions. This lesson will help you to understand what are these card & how to use it properly.
11.0 Objectives After going through this lesson, you will be able to: • •
Understand what is ATM card & how to use them Other different variety of e-Cards available in the market & proper way to use it
11.1 Introduction Various facilities like, ATM & other e-Cards, exist in today’s world for making life more convenient, but certain amount of caution needs to be exercised when using these e.g. ATM, other e-Cards.
11.2 Automatic Teller Machine (ATM) An Automatic Teller Machine, or ATM for short, is a machine used for banking. It performs many of the same tasks as can be done at the bank branch. These include cash withdrawal and cash deposit, cheque deposit, statement of account, bill payment for utilities or credit cards, or for checking balance in the account. ATMs are installed by several banks at their branches and also at several convenient locations across various cities. Banks that have provide ATM facility issue a special card to all customers, called an ATM card, which can be used at the ATM for the transactions. For several banks this ATM card also serves as a special card called a ‘Debit Card’ which can be used for monetary transactions much like a credit card.
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A debit card accesses the savings or current account and can be used for making payments at all locations which have special machines called Point of Sale Terminals (or POS terminals) installed. These payments could be made for shopping, travel etc. The ATM or Debit card is used using a special number code that needs to be punched in at the ATM or other places. The card also carries the signature of the holder at the back for security purposes and to identify the genuine user of the card.
11.3 The ATM Card / Debit Card / Credit Card Card to go inside the machine in this direction Name
Logo
The first name goes inside the machine and “VISA� is where you hold the card
Name of Bank
Card Number Expiry month / year of card Card Company VISA / MASTERCARD
Magnetic Strip.. (Avoid scratches) Signature Area (Sign as in A/c)
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Debit card – Card through which you can withdraw cash / shop by debiting your savings / current account. The card can be used to the specified higher limit of the card or to the level of balance available in the account. Credit card – Card in which an overdrawing limit is assigned to you and you can withdraw against that. You have to pay interest in case payment not made in time. Choosing an ATM
1. Where possible, use ATMs you are most familiar with. If that’s not possible, choose well-lit ATMs where you feel comfortable. 2. Scan the whole ATM area before you approach it. Avoid using the ATM altogether if there are any suspicious-looking individuals around or if it looks too isolated or unsafe. 3. Avoid opening your purse, bag or wallet while in line for the ATM. Have your card ready in your hand before you approach the ATM. 4. Be alert for anything unusual or suspicious about the ATM that would indicate it might have been altered. If the ATM appears to have any attachments to the card slot or keypad, do not use it. Check for unusual instructions on the display screen and for suspicious blank screens. If you suspect that the ATM has been interfered with, proceed to another ATM and inform the bank. 5. Avoid ATMs which have messages or signs fixed to them indicating that the screen directions have been changed, especially if the message is posted over the card reader. Banks and other ATM owners will not put up messages directing you to a specific ATM, nor would they direct you to use an ATM, which has been altered. Through your card you can withdraw cash / shop at malls / use it for booking tickets / and make payments over the internet. It is an instrument and not an identity proof.
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11.4 Precautions while Using an ATM
1. Be especially cautious when strangers offer to help you at an ATM, even if your card is stuck or you are experiencing difficulty with the transaction. You should not allow anyone to distract you while you are at the ATM. Check that other individuals in line keep an acceptable distance from you. Be on the lookout for individuals who might be watching you enter your PIN (Personal Identification Number)1. 2. Stand close to the ATM and shield the keypad with your hand when keying in your PIN.
3. Follow the instructions on the display screen. For example, do not key in your PIN until the ATM requests that you do so.
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Explained Below
4. If you feel the ATM is not working normally, press the Cancel key and withdraw your card and then proceed to another ATM and inform the bank. Never force your card into the card slot.
5. Keep your printed transaction record so that you can compare your ATM receipts to your monthly statement. 6. If your card gets jammed, retained or lost, or if you are interfered with at an ATM, report this immediately to the bank and/or police using the help line provided or nearest phone. 7. Donot be in a hurry during the transaction, and carefully secure your card & cash in your wallet, handbag or pocket before leaving the ATM.
Managing your ATM Use 1. Memorize your PIN 2. NEVER disclose your PIN to anyone, whether a family member, bank staff or police. 3. Do not use obvious and guessable numbers for your PIN like your date of birth. 4. Change your PIN periodically, and, if you think it may have been compromised, change it immediately. 5. Regularly check your account balance and bank statements and report any discrepancies to your bank immediately. ATM Password When you receive an ATM / Debit / Credit, along with the same one also receives a password to use the card at the ATM machine. This is called as the P.I.N. (Personal Identification Number)
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Tips to select PIN and Password 1. Destroy the PIN mailer after memorizing it and/or change the PIN after the first usage. 2. Avoid using the same password for multiple applications or Internet services. You should use a unique password for each Web site and purpose. 3. Do not use a password that contains part of your User ID or account number. 4. Do not use the same password as the one which you use to login to your PC or access your email account.
Self-Check Questions 1. Name the different type of card? 2. Can you access an ATM machine any time in a day?
11.5 Assignments 1. Find out if anyone in your family or friends has an e-Card? 2. What is the cash & shopping limit in the card? 3. Accompany the person on his or her next visit to the ATM and see how money can be withdrawn from the ATM machine
11.6 Summing Up ATM & other variety of e-Card have changed the conventional banking practice to a new age electronic banking, which help you to reduce hard cash from daily transactions. It has its own advantage and disadvantage. One should know the pros-cons of these new modes of banking transactions to avoid any loss.
11.7 Answers of Self-Check Questions 1. Debit Card & Credit Card 2. Yes
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11.8 Terminal Questions 1. 2. 3. 4.
What is a debit card? What transactions can one do through a debit card? What is the basic difference between a debit / credit card? Write 5 safety tips for using your debit / credit card?
11.9 Glossary ATM: Automatic Teller Machine POS: Point of Sale Debit card – Card through which you can withdraw cash / shop by debiting your savings account / current account Credit card – Card in which an overdrawing limit is assigned to you and you can withdraw against that P.I.N.: Personal Identification Number
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