What is Depicted by 16 Digits Printed on Debit Card?

A debit card is a small payment card that can be used for online shopping, bill payment, and taking the money out directly from the person's checking account using the ATM. Today, we live in the digital world where one can easily use their debit card for any transaction without physically visiting the bank. It is also referred to as an ATM Card and can be utilised for online bill payment, online shopping, and many other purposes. It is of absolute significance that we understand online banking and use it carefully.

 The ATM Card will have 16 digits printed on it, which represent the details of an individual's bank account and has been highly significant from the security point of view. If these details are not handled carefully, it might lead to fraudulent activities. Hence, one should be very careful while someone asks you questions like- account number on debit card, what is ATM card number, or any other ATM card number details. 

Often people ask, What is depicted by 16 digits printed on Debit Card? The total 16 digit number is split into two parts. The first six digits represent Bank Identification Number, and the last 10 digits of the debit card represent the Unique Account Number of the person. The ATM CARD is three-dimensional. The year and date of expiry are also mentioned on the debit card, which means that it will not work after that particular date. Let us know what the debit card number means and the other vital information related to the debit card. 

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Fig: An ATM card

Debit Card Starting Numbers

Debit card starting numbers signify the industry which has released the debit card. It is called a Major Industry Identifier (MII). It is unique to every industry. Different industries that give out MII Code are Banking and Finance (VISA and MASTERCARD), Travel and Entertainment (American Express or Food Club), Airlines and other industries, Petroleum, ISO and other industries, Telecommunications, etc. If you’re wondering why there is no account number on debit cards, it’s because of security purposes. 

Hence, the initial six digits of the card tell about the industry that has issued the debit card, called the Issuer Identification Number. 

The 7th Digit to 15th Digit

The number from the 7th digit to the 15th digit is associated with the bank account. However, the bank account number on cards is never possible as this number cannot be referred to as the bank account number. This is just linked with your bank account. Also, this number will never reflect anything about your bank and you. So, if people ask you What is ATM card number? Always remember that it has nothing to do with your account number. It is only authorised by the card provider and very unique for each individual. 

The Last Digit on the Card 

When it comes to the last 6 digits of debit card, the last number of the debit card is called Check Digit. This number decides the validity of the card, which is why it is regarded as a significant number. It will determine the validity of the rest of the number. The card validator system will notify the person if the numbers are mentioned incorrectly to avoid fraudulent transactions. 

The Luhn algorithm, which dates back to 1960, is used for calculating this check digit since it ensures the accuracy of the numbers. 

The CVV 

The back of the debit card will have a three-digit number used when paying bills, or Online Shopping is called a CVV number. The transaction must be completed securely. This number confirms the identity of the account holder and reduces the risk of fraud. It is also called a card verification code or card security code. This is a highly secured number and helps us in the prevention of any fraud. 

Once the bank has issued you a debit card, you shall get a CVV Code. The bank uses a specific algorithm that includes CVKs, a service code, an expiration date, and a PAN, which means Primary Account Number.

You get a CVV code once the bank has issued you with a debit card. The combination of all these values helps to generate a CVV which is used for online purchases. So, each debit card number holds a specific function and is extremely important for security. 

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Fig: CVV number on card

The ATM Debit Card PIN 

An ATM PIN signifies the personal identification number that stands, which is unique to each account holder. You will only get the PIN when you receive the debit card. The account owner can anytime change the PIN at their convenience. This PIN has to be used when using the debit card. It is advised strictly not to share the PIN with anyone for your security. 

Interesting Facts About Debit Card

• The first country to launch debit cards is the UK. In 1987, Barclays Bank introduced debit cards. After that, all other central banks followed, and it is said that almost more than 90% of the UK population owns a debit card. 

• Initially, the debit card possessed some processing fees, which led to an extra charge for card payment or not accepting cards for smaller amounts. In January 2018, the UK government recently asked to ban all surcharges, which has helped the customer use it for any amount.  

• Some debit cards asked for signatures for payment which is now replaced by a magnetic strip swiped on the payment terminal. The evolution of the debit card has gifted our chip and PIN technology which came in 2003 through a technical standard called EMV. That is why it is called smart cards or chip cards. The data is stored on integrated circuit chips, hence allows users to make payments by putting the card into the payment terminal and entering the PIN. 

• If you’re wondering how to know bank account number from ATM card, it’s not possible as you can only find it by consulting the bank officials. 

• The two major players that issue the bulk of cards in the UK are Visa or Mastercard. So, even if each banking provider has its debit card, it will have either Visa or Mastercard logo.  These two companies operate globally, which means they can be accepted globally. Initially, there were three major players, Europay, Mastercard, and Visa, which had led to the naming of EMV Card. However, in 2002 Europay merged with Mastercard. 

• The digital world can bring us virtual debit cards, which will be an evolution in the history of debit cards. These digital versions can be uploaded on your phone, permitting contactless payment without physically using the card.