To make matters even more complicated, American Express cards only have 15 digits. Therefore, no IIN is used to identify a bank within the credit card number. Rather, American Express card numbers have a different structure: a two-digit MII which is 37 or 34 , a two-digit number indicating type of card and currency used, a seven-digit account number, and a check digit.
The numbers on the back of a credit card are the last four numbers of the number on the front, and the three-digit CVV , or card verification value. On American Express cards, this number has four digits and is found on the front. This number is an important security measure because it verifies that the cardholder has the physical card as opposed to just the number when making online purchases. It also makes stealing a credit card number trickier because merchants are prohibited by law from storing the CVV. A debit card number is put together the same way as a credit card number, with the MII, IIN, unique account number, and check digit that applies to the Luhn Formula.
A debit card , however, is linked directly to a checking account, even though it does not include the account number. Like with a credit card, this is largely for security reasons. For example, if the card is lost or stolen, it can be easily replaced with a new number, while the checking account number stays the same. The debit card can be frozen without having to freeze the account itself, therefore having no effect on ACH or check transactions and causing much less of a headache. Similarly, debit cardholders who have a joint checking account have different debit card numbers, though the cards draw on the same account.
A wire transfer number comes into play when accounts at American banks receive money transfers from other U. This number is assigned to banks by the ABA, just like a normal routing number. However, while check routing numbers differ geographically, one bank may use a single wire transfer routing number for all incoming transactions.
For example, all incoming wires to Bank of America accounts use the wire transfer number All incoming wires to Wells Fargo accounts use Further identifying information such as the account number helps direct the funds to the right person. SWIFT is another way of directing money from one bank to another, but is used internationally and for money transfers that cross national borders.
The code only has eight digits, because the payments are sent to the primary branch. At the time of Online Shopping, CVV number is required so that the transaction can be completed properly.
CVV is the three - digit number, which is given at the back of the card, it is generally present near the signature strip and is highlighted in italics. So we can say that these 16 digits or numbers on the debit card represents Bank Identification Number and Unique Account Number of the card holder.
Frequently asked questions on debit or ATM card:. What is a debit card? Debit card is also known as ATM card, plastic card, check card or bank card that can be used instead of cash at the time of purchasing.
It is the most convenient and secure method to say no to cash. With the help of debit card do online payments, balance enquiry and also can generate mini-statements from an ATM.
How can you get a debit card? When you open a bank account in a certain bank you receive an opening kit of the bank which consists of debit card, passbook etc.
In case you didn't receive a debit card while opening a bank account then you can call customer care number of the bank or visit the branch to request for a debit card. Who can apply for ATM-cum-Debit-card? PIN is a four-digit unique number of your debit card through which you can access your cash and can make any transaction through your ATM. Do remember to keep your PIN safe and confidential and also do not share it with anybody.
How much amount you can withdraw by using debit card or is there any transaction limit?
On daily cash withdrawals there are limits and it depends upon the type of debit card you hold. You can withdraw from Rs 15, to 2 lakh or even higher, depending upon the type of card you are using. For premium cards withdrawal limit of cash and point-of-sales limits are higher.
Are any charges levied for using a debit card for cash withdrawal? Basically, cash withdrawals from the same bank's ATM are absolutely free.
In fact some bank charges nominal charge in case more than five transactions you made from you bank's ATM. Search for the one that best suits you based on the area you are. Fill in an application at any Alpha Bank Branch. Contact us Customer Service.
CustomerService alpha. Loss Declaration Centre. Card loss.