Attention, here’s what happens if your ATM expires: “Crazy!”

The term ATM it began to spread from the 80s of the last century, being officially the nomenclature that identifies a payment circuit that is currently one of the most widespread in our country.

This term is often associated with operations such as cash withdrawal and electronic payment through ATMs and POS used for payment, even if they are not part of the same circuit.

History

Bancomat has existed since 1983, the year in which the first version of this form of magnetic card was made available, initially usable exclusively for withdrawing cash at any compatible ATM in the country, and since 1986 also usable through POS. Over the years, the term Bancomat has taken on a generic connotation, identifying these operations also unrelated to the circuit itself such as Visa and Mastercard.

ATM cards have acquired more and more features such as the service Bancomat Pay which allows the passage of money through two users using the numbers in the address book present in the smartphone.

Attention, here’s what happens if your ATM expires: “Crazy!”

Like almost all cards used for money-related services, ATM cards also have an expiry date, usually 5 years after issue. Specifically dealing with debit cards connected to current accounts, in most cases it is the credit institution that does its utmost to notify the user of the expiry, usually a few months in advance.

An ATM card officially expires, and therefore becomes unusable starting from the first day following the month shown on the card: therefore a card that expires 04/2022 will be usable until the last day of April 2022, and then automatically deactivated at starting the next day.

Generally, the activation of a new ATM causes the previous one not to be used, even if it is still valid. In most cases this operation is free or has not so high costs (we speak at most of 10 or 15 euro).

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