Today, debit cards are an essential and necessary part of the banking industry. A bank issues debit cards to all savings and current account holders. The debit card allows the account holder to access the account from any location at any time. Getting a new card can be very exciting, and once you have it, you need to activate it.
Read on to know more.
A debit card is a card provided by a bank that allows you to make purchases and also make payments online. The card also allows you a feature to draw funds directly from your account. In a sealed envelope, your bank will provide you with a debit card and an ATM PIN in a welcome kit. The debit card allows the account holder to access the account from any location at any time.
There are 3 ways through which you can activate your debit card.
1. Use an ATM
Your nearest ATM machine can help you activate a debit card:
2. Through Netbanking
This is how to activate your debit card online:
3. Through Phone Banking
You can also activate your debit card directly from your phone using the phone banking PIN you have received from the bank:
Almost all banks have a similar, time-consuming procedure for activating a debit card. Some banks send OTP to the customer’s registered mobile number for added security when verifying and activating a debit card. Do note that you need to have your phone number registered with the connected debit card while activating it.
If you haven’t used your debit card for online/contactless payments in a long time, your bank may deactivate it. The payment feature on unused cards is disabled by leading private sector banks. This is in accordance with Reserve Bank of India (RBI) guidelines.
But there is no need to be concerned. You can reactivate the debit card for online transactions by logging into your internet banking service. You could also speak with a concerned manager at the bank, who will reactivate your debit card for you.
After customers activate a debit card, they benefit significantly in the following ways:
1. Simple to obtain
After opening an account, most financial institutions will issue you a debit card upon request. A cheque book is sent to your address given on your ID proof, while a debit card is handed to you right there.
Instead of filling out a paper cheque, you can make purchases by swiping your card or by using a chip-enabled terminal. Carrying a small, plastic card rather than a bulky Cheque book or a large amount of cash is more convenient.
You do not need to carry cash or a chequebook. Debit cards are secured by a four-digit pin number that you create. This pin is required for any debit card purchase.
3. Accepted readily
When travelling out of town (or out of the country), debit cards are usually widely accepted, unlike cheques with which you have to find a bank, stand in queues and have ID proof with you at the time. With debit cards, you can just insert your card into an ATM machine, withdraw money and are good to go.
After you activate a debit card, you can enjoy its numerous benefits. You can use the card to withdraw money from ATMs and shop in stores, shop online, and pay your bills, to name a few. You no longer need to worry about carrying foreign currency when travelling internationally. You can use the international debit card to pay for your purchases and other expenses while travelling abroad.
Ans: You can activate a debit card both online and offline at an ATM. These are two distinct time-bound procedures. The debit card must be activated within a certain time frame, or the PIN number provided by the bank will become invalid. When the PIN becomes invalid, you can only activate the debit card via Phone Banking or by visiting the branch.
Ans: Yes, you will need a new PIN for your new debit card. Before using the new debit card, make sure to destroy your old one, as the old one can be used for fraud.
Ans: There can be several reasons for a declined debit card. These can include that you provided incorrect information or incorrect PIN. You may have insufficient funds in your account, or you may have exceeded the daily withdrawal limit, etc. If you require any additional information, don’t hesitate to get in touch with your bank.