6 Bank Card Secrets Everyone Should Know


Paying for things is getting easier and easier these days, all you have to do is swipe your card against the card machine and swoosh! It’s all paid!

While that’s good news for me, it’s bad news for my bank account!

Most of us have a bank card and some have quite a few for all sorts of things.

I still think it’s pretty cool that we can have all our money on hand in the form of a plastic card.

But what do you know about your bank card?

There are actually quite a few things you don’t know about your bank card!

Take a look for yourself!

1) What the numbers on bank cards mean?

Most bank cards have a 16-digit number on them, but this can be 13 or even 19 sometimes.

The first digit in the system is a number identifier, 4 — VISA, 5 — MasterCard.

The next 5 digits represent the issuing bank. So only 6 digits will give you information about the type of the card you have, the system, and the bank that issued the card. 

The following 9 digits are used only for the bank because they identify who the card owner.

2) The check digit and the magic of numbers

The card number is determined by digits 9-15, they are actually made by a special algorithm.

The chances that 7 numbers are the same on 2 different cards is very unlikely because the number of possible arrangements of 7 digits is more than the number of people currently alive.

However, the number is calculated based on the Luhn algorithm. Which actually prevents unintended mistakes that are bound to appear if the numbers are typed manually.

3) A bank card in UV light

Very few people actually know this but bank cards are protected in the same way as money. watermarks that can be seen in ultraviolet light. On VISA cards, you will see a “V,“ on MasterCard there are ”M” and “C,” and on American Express you can find an eagle.

Our bank cards actually have watermarks that can be seen in ultraviolet light.

If you have VISA cards, you will see a “V,“ on MasterCard there are ”M” and “C,” and on American Express you can find an eagle.

4)  Credit or debit?

Bank cards can be either debit or credit.

The main difference between the two is who the money actually belongs to. If it’s a debit card then the money belongs to the cardholder.

But if it’s a credit card the money actually belongs to the bank.

It’s always important to remember that a bank has no right to issue a credit card for you without your permission.

5) A technical overdraft

A “technical overdraft” is when a sum that is bigger than the regular limit is charged from the account.

It might appear when you pay in another currency or if you replenish the account from a different bank and then withdraw money right after.

But no need to panic, it disappears right after the money is in the account and no interest is calculated.

6) The other side of the card

If you look at the back of your card, you’ll see another safety measure. The CVV code (for VISA cards) and the CVC code (for MasterCard).

CV stands for Card Verification, and it does exactly what it says on the tin, it verifies your card!

CVV allows you to make transactions without the actual card, for example, when paying online. You can actually use this code you can make a transaction remotely, it’s like a PIN number.

Just remember, you shouldn’t show it or tell it to anyone, especially if someone is asking you to!

Safety Rules For Safe Banking

1) If you are buying something on the internet, only use secure and trusted websites. Also, check if the website uses https-protocol for financial transactions.

This will protect your data from being leaked.

2) Keep your card information safe.

This goes for both the PIN and the CVV number. It takes only a few seconds to capture the information on the card, so don’t let anyone take your card.

3) When using an ATM, make sure if there additional cameras or something on the keyboard.

4) If you lose your card or somebody steals it, call the bank as soon as you can to have it blocked.

But if it hasn’t been stolen and you think that somebody might have your bank information, get in touch with your bank about it.

5) Don’t be shy when it comes to talking to the bank.

Most banks have a 24/7 support for their customers. You can ask any question about your card by calling the service or writing to them directly.

Hopefully, this made you more aware of your bank card and how to keep your information safe!

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