What you need to know before shopping online with you ATM Card

What you need to know before shopping online with you ATM Card

ATM card is plastic card issued by financial institution; it can be used to withdraw your money, transfer, and deposit in some cases…etc from an ATM Machine (Automated Teller Machine). This card is usually issued in conjunction with higher body that is into financial sector like Visa, MasterCard, and Verve…etc.

Over the years, ATM card have been so helpful to us in so many ways. Ranging from giving us easy access to our fund wherever we are; in as much as there’s an ATM Machine within, to making payments with it online. In fact, its importance can never be over emphasized.

Today, we will be looking at the use of ATM Card for online transaction; the good side of it and of course the disadvantages. Things you will have to consider before doing online transaction with your card.

Below are some of the benefits of using your ATM Card for online transaction.

  TIME SAVING

I won’t have forgiven myself if I didn’t put this as the number one importance. You know they say time is precious, time is money, and time is the engine behind so many things. It is in such a way that if you don’t manage it very well, you will have yourself to regret. Now, looking at the above and some other things, you should understand why I gave ‘Time’ number one. Anyway, that’s bygone, let’s go back to the topic.

You know what? I always believe that “Queue” is one thing that can never be eradicated in the banks, no matter the number of staff they employ because people keeps increasing daily and people keeps being in a haste. Banks will always be filled with customers, especially on Mondays and Fridays. Often times, you will hear customers arguing about who came first before the other, some inpatient ones can even go as far as exchanging blows.

Honestly, I give online banking, 100% rating on this one. They really tried. I can’t remember the last time I went to the bank to pay money into someone’s all I do is transfer the money to the persons’ bank account. The only exceptions are in situations where I don’t have the amount of money I want to transfer in my account. And I must tell the experience is something you wouldn’t want to try all the time.

  FASTER
 

I don’t know if anyone has noticed this. But I noticed that sometimes, money I received/transferred using my mobile banking app reflect in the destination bank account way earlier than the bank’s custom Debit or Credit alert SMS. This happens mainly on days when the network signal is poor.

ACCESSIBLE

No doubt, making online transaction is always convenient as well as accessible any minutes of the day, night, etc. you can wake up in the middle of the night to transfer money into someone’s account. Pay for goods and services online, among other things; like buying airtime and the likes.

Despite the interesting benefits of doing online transaction using mobile banking app or your ATM Card (mostly in the case of shopping online). The ‘pasture is not always greener here’ because you will be face with some challenges which are listed below.

1

 POOR NETWORK

I know this is not limited to online transactions only but its importance here can never be juxtaposed, as it is the sole engine that engineers the whole thing on this.

  SECURITY OF YOUR CARD

This is limited in the area of using your ATM Card for online transaction. The use of ATM Card for online transaction is something you must be very careful of, as any single mistake you make by entering your card details in the wrong site, has a great chance of leaving you bankrupt. So it is done with extreme caution.

RECOMMENDATIONS AND SOLUTIONS

I hereby recommend the use of Mobile Banking App if you know you are not sure of the authenticity of the website or the ecommerce site you are shopping on. Only use Mobile Banking App and use it when you have access to strong network. If you must shop online and with ATM Card, do that only from a reputable ecommerce website in other not to leave your bank details at the mercy of scammers.

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