Debit cards are a great way to spend your money when you don’t have cash on hand. They’re convenient, and they usually come with a linked personal bank account that will let you transfer funds from your card to the account at low or no cost.
You use them just like a credit card, except instead of spending someone else’s money, it is actually yours! But there is one question people ask all the time – do debit cards expire? Will an expired card still work at ATM?
In this blog post, we’ll tell you everything you need to know about expiration dates for debit cards so that you never have problems again!
Does A Debit Card Have An Expiration Date?
Yes, a debit card has an expiration date which is typically two to three years. The expiration date is usually found on the front of the card, and it’s expressed in a form such as “Forma XX/XX” or “Expiration Month XX, Year XX.” And yes debit cards expire at the end of the month.
For example, a card might have “07/24” or “July 2024,” which means the debit card expires on July 31st of 2024.
Why Does A Debit Card Have An Expiration Date?
Debit cards have expiration dates because the card issuer needs a way to periodically update their records with the latest information about the cardholder. It also allows the cardholder to update their information with the financial institution or the card issuer, such as their current address or contact information, or other additional information.
Another good reason is debit cards get damaged with use over time. The magnetic stripe on the card gets scratched or cracked. The magnetic strip makes debit or credit cards readable for an ATM card reader. On the other hand, technology is changing too fast. However, to preserve the plastic card in good functioning order, banks set a time period for an existing card to be replaced with a new one.
It’s also important to note that if you don’t use your card for a period of time – usually around two years – the card issuer may close the account.
So be sure to use your card regularly and keep your account information up-to-date!
Will an expired debit card still work at atm?
When your current debit card expires, it can no longer be used to make any transactions. This is because the card’s expiration date indicates the validity period of your service from that card. If you try to use an expired debit card at an ATM, the machine will not be able to read it and will not dispense any cash withdrawal.
Additionally, if you try to use an expired card at a store, the transaction will likely be declined. Therefore, it is important to make sure that your debit card does not expire before using it.
If you do have an expired debit card, you can call the issuer to ask for a new one. They should send you a replacement card within a few weeks. In the meantime, you can use a different form of payment to make transactions.
What to do if your Debit Card Expires?
When your debit card’s validity expires, you should contact your bank or credit union customer service. Your bank or credit union will send you a replacement debit card. Your old card will no longer work, and you should destroy it by cutting it up or shredding it. You should also update your card information with the merchant card processors who have it saved.
Your new card will come with a new expiration date and a 16-digit number on it. Be sure to activate your card as soon as you receive it, and remember to sign the back. A PIN number will also be sent to you in the mail, and you should change it as soon as possible for ATM withdrawal.
Keep your debit card safe and keep track of its expiry date so that you can avoid any disruptions in your banking routine.
Will My Debit Card Number be the same as the previous one?
If your card expires, the 16 digit number on your new card will be the same as your old debit card. You will see only a change of your card’s expiration date and a unique CVV number on the back of your ATM card. CVV refers to Card Verification Value, a three-digit number that you should always keep secret.
But keep that in mind your card issuer can also provide you with a new card number when the old one expires.
For example, If your existing card is used for unauthorized transactions, you will almost certainly be issued a new debit card with a different number.
It may surprise you, but the reality is, your bank may encourage you to shut down your current checking account and create a fresh one. And then they will link your debit card to it, issuing a new one.
You may also face the same situation if you see unknown money deposited in your account. The purpose of this kind of transaction is to steal your identity. In this situation, you should contact your bank immediately, and they may change both your ATM card number and also your checking bank account.
That being said if you have an active automatic payment that is pulling from your expired debit card, then you will have to replace the details with your new card information.
How long does it take to replace my expired debit card?
It may take up to seven business days to receive your new card in the mail. If you need a replacement card sooner, you can request your bank for fast delivery. This will incur an additional fee. You may also pick up your card immediately at a local branch. But first, be sure that your bank offers this service.
Your card provider will send your new card by mail to the mailing address on file. If you’ve recently moved, make sure to update your correct address and your zip code with your bank.
For example, if you are a client of Bank of America, then it will take 4 to 6 business days to get your new card. You can also request a replacement for your missing, stolen, damaged, or current card using their online banking platform.
What should You do After Getting a new debit card?
When you get your new debit card, there are a few things you should keep in mind. Be sure to activate your card by phone as soon as you receive it. You can do this by calling the number on the back of your card or visiting the website provided.
Change your PIN Number
After activation, you should immediately change your Personal Identification Number (PIN). Make sure you have already received a new default PIN from your card provider. This is a four-digit code that will allow you to make an ATM transaction and access your account.
It is very common for debit card thieves to steal personal information and try out random numbers until they hit the right one. Once someone has access to your debit card, they can easily withdraw cash from your account. So change that pin as quickly as possible!
Check your card balance
It’s always a good idea to check your account balance regularly, especially when you receive your new ATM card. This will help you confirm that your debit card is perfectly integrated with an in-network ATM. This will also help you to keep track of how much money you have available and avoid any unexpected surprises.
You can do this by going to your nearest ATM. And also, don’t forget to check your transaction history.
Destroy your old Debit Card
Destroy your old debit card after receiving a new one. You should not throw away your prepaid card. Someone might find them. Even though they won’t be able to use your card for any purchases, they might use the information on the card or the information stored on its magnetic stripe to commit identity theft. Even your social security may also get compromised.
So tear it up or shred the chip card for fraud prevention. Just make sure all your information, signature on the back, and magnetic strip are destroyed properly so that no one can use the information on your card.
Keep your PIN to yourself, and never write it down
You should choose a PIN that is secret to you, and only you know it. Do not write it down or tell anyone else. If someone has your PIN, they can easily access your account, which I am sure you don’t want.
When using ATMs, be sure to enter your PIN carefully so that others cannot see it. Thieves often try to watch people enter their PINs at ATMs. If you use an ATM in a public place, be a bit more careful to protect your PIN.
Don’t share your debit card with anyone else
You shouldn’t share your debit card detail with anyone else because that increases the risk of someone stealing your information and using your card without your permission.
Make sure to keep your debit card in a safe place, and don’t tell anyone else your PIN and the three-digit CVV security code of that card.
Debit cards have a built-in expiration date, no matter whether it’s an American Express or a Visa Debit card. If you use your debit card for purchases or ATM withdrawals, it will be declined if the card has already expired. To avoid this situation from happening, try to replace your card before reaching the debit or credit card expiration date.
That being said, you should always keep your card information secret and never share your card information with someone else.
Finally, use your card information to online retailers you trust, and don’t use it for e-commerce transactions unless you are on a secure website.