Parts Of A Debit Card And Their Functions – Components Of A Debit Card

All of us have at least one debit card. These debits cards are used for online transactions as well as money withdrawal from your account. Howbeit, not many persons know the parts of a debit card and their functions. We will be glad to dissect to you the details contained on your debit card and hope you find it very helpful. Shall we?

Knowing the parts of a debit card and their functions is very needful. It is a way of increasing protection against online frauds. Most details contain on your card are meant to be treated carefully. Therefore, with this knowledge, you will be more security conscious of your debit card. Let us get down to business right here.

Parts Of A Debit Card And Their Functions

A debit card basically has a front and back segment. We shall treat them individually with images.

Parts Of A Debit Card – The Front

1. Bank Name: As the name implies, it is simply the name of the bank which issued you the card. Most times, it may not carry the bank’s name but might display a logo for a specific program which the bank offers the card for.
2. Card number: This is a 16 digit number which points your account with the card issuer. It is a very important aspect of the card. Whenever you want to make online purchasing, you will supply these 16 digits number. Without it, there will be no transaction. Please, some card (eg American Express) comes with a 15 digit card number.
3. Card holder’s name: This bears the name of the Card holder. When your bank issues you a debit card, it will contain your name as the card holder.
4. Smart chips: The Smart Chip is necessarily for security purpose. It makes a debit card very secure. Also, it makes it harder for thieves to use stolen credit card numbers. It also reduces the risk of fraud with magnetic stripe transactions.
5. Expiration date: This is self- explained. It is simply the date upon which the debit card expires. Once expired, you cannot transact with the card till it is replaced by the card issuer. Furthermore, the expiration date is important because it’s required for purchases you make online or over the phone.
6. Payment network logo: The payment Logo tells you what type of card you have. The most common include MasterCard, Visa, Verve and Discover.

Also See: Debit/Credit Card Security Tips – How To Protect Yourself Against Online Fraud

Parts Of A Debit Card – The Back

1. Magnetic stripe: The magnetic stripe contains concealed information about you and your card; this can only be read through Card Readers. It contains information such as your name, card number, expiration date, and other details.
2. Hologram: Holograms can appear either in the front or back of the card. It is the mirrior-like segment of your card. It does not appear in every card, anyway. Through holograms, valid or fake cards are identified.
3. Bank Contact Details: This provides you with the contact detail of your card. It allows you get in contact with your bank, if need be. Of very important value, it can help protect you against scam bank emails and other card frauds. Once you receive suspicious calls, texts or emails, you can use this information to contact your bank. It is also advisable to copy this contact details separately. When you lose your card, you can contact your bank immediately.
4. Signature panel: This column is provided for you to append your signature before use. Often, without the signature, you will be unable to use the card.
5. Security codes: These codes are used to ensure that you have a legitimate, original card. If you use your card number to make a purchase online or by phone, you’ll need to provide more than just the card number and expiration date from the front of your card. Security codes might be referred to as CVV, CVV2, CVC, CSC, CID, or similar. On Visa, MasterCard, and Discover cards, the code is a three digit code on the back of your card. On American Express cards, the four digit code is on the front of the card – look above your card number on the right side of the card.
6. Network logos: Your card might have additional network logos on the back, often in the lower right corner. These logos can help you figure out which ATMs you can use for free. You can of course use other ATMs, but you’ll most likely pay fees to the ATM operator, and you might pay additional fees to your bank or lender.

Also See: How To Protect Yourself Against Scam Bank Emails

You have seen the Parts Of A Debit Card And Their Functions. Kindly share this vital information with your friends. Also ensure you follow the instructions contained here. Thank you.