How does a bank card work
Written by: smm
Do you know how much information your bank card contains? Let’s see what it is:
- Bank logo. The card can also be co-branded which means that it has been produced with a partner company, like the SharPay card. That’s when a partner logo is also added to its design.
- Card number consisting of 16 digits. This is its unique identifier.
- Name of the card owner (there are sometimes cards without a name on them).
- A card expiration date displaying a month and a year. Upon expiration of the said time period, the card becomes invalid, and the bank may replace it with a new one.
- Contactless identifier (PayPass) to make a payment by touching the terminal with a card. The majority of bank cards have this feature nowadays.
Information you’ll find on the back:
- Magnetic tape. It contains an encrypted access key to your account.
- A section for your signature confirming that only you can use the card (some cards don’t have it).
- A protective hologram of the payment system which protects the card from forgery.
- CVV2 which is a 4-digit code to ensure online payment safety.
- Contact details of the bank (address and phone number).
A couple of things you need to remember:
— Never keep a plastic card near any working electrical devices or heat it up. This may cause it to become demagnetized and thus non-operational.
— Do not share your CVV2 code or a PIN code to your card with anybody else. This information is strictly confidential.
— Your card number and number of your bank account are not the same thing. One bank account can have several cards tied to it.
— A virtual card contains the same data as the plastic one. You can check out this information by logging into your personal account or going on the app.