What is a Deposit Only ATM Debit Card – Explained

QuestionsCategory: Payment ProcessingWhat is a Deposit Only ATM Debit Card – Explained
Bankim Chandra Staff asked 3 years ago
2 Answers
Bankim Chandra Staff answered 2 weeks ago

Some banks may offer cards that can only be used to deposite funds on atm. These cards are not available with all banks as the requirements are very low. With the availability of internet payment options like imps, UPI, ACH, Wire and sepa these cards are hardly used.
Sometimes runners may use these cards if they are responsible to collect cash from clients and deposite at the neares atms
Suggested readings
https://karnatakabank.com/personal/cards/deposit-only-card
https://www.capitalone.com/treasury-management/terms-and-conditions/atm-deposit-only-card
https://www.e-gulfbank.com/en/corporate/cards/debit-cards/deposit-only-cards