What is the difference between an ATM card credit and debit transaction?
When you sign a charge slip instead of using you PIN, the transaction is treated like a credit card purchase- and run through the credit card network. The advantage of this type of transaction is protection. When a transaction is processed as “credit,” you benefit for the zero liabilities policy of Visa and MasterCard. Generally, you will not be held responsible for unauthorized transactions as long as you report them within a specified time period. A debit or PIN-based transaction allows you to withdraw cash when you make a purchase. Rather then make an extra stop at an ATM, simply use the “debit” option when you make a purchase at a participating retailer. In addition to convenience, there are no fees associated with this type of transactions. This is not the case if you use an out of network ATM.
