Personal banking has become much easier and more convenient since the invention of the automated teller machine, or ATM. You can deposit checks, withdraw and deposit cash from the machine, all without going inside of the branch.
Why Would This Happen?
The ATM will keep or eat your card after putting in your Personal Identification Number (PIN) pin incorrectly after three times. Make sure you know your PIN to avoid this.
Losing Your ATM Card
If the ATM eats your card, you have options. You can contact the branch or bank immediately and report the card as stolen. This should disable the card so that no one else can use it.
What to Do After Reporting Your Card Stolen
After contacting the bank, you will have to go into the bank and order a new one. Depending on the bank, the bank can immediately issue you a new one, or you may have to wait for a new card to arrive in the mail.
Chris Ciaccia is a former oil and gas hedge fund analyst who has been writing since 2008. He has been published in "Miner's Choice" and online at BenZinga. He graduated from Seton Hall with a Bachelor of Science in business administration and finance and a minor in communications.