The Importance Of The 16 Digits Printed On Your Debit Card, And Its Meaning To You.

Do you know that your bank account details can be easily accessed by the digits given on your debit card? So it’s not enough that you have a debit card and you know that there are some numbers written on both sides of your ATM Card, it’s great to know the importance of it.

What Is A Debit Card?
A Debit card is also recognized as an ATM Card and it is used to withdraw money from an ATM. It could also be used for online shopping/ banking.

It is just like a pay-as-you-go SIM card, if you have no balance in your bank account, you can’t make use of the debit card.

Now you don’t have to visit the banks just to be able to receive money, technology has improved so much that now you can have cash in hand through ATMs by using your debit card.

There are millions of numerous ATM cards from the Major issuers, but all have one thing in common, which is the meaning of the numbers on the card.

Now, most major cards have 16 digits on them, which we are all aware of and each number has a particular meaning. These numbers do not only represent the details of your bank account but are also very crucial from a security aspect.

These digits are very helpful in avoiding fraudulent activities that can occur at any time at all.

Just so you know, if by any chance these details are exposed, then it may lead to the defrauding of your bank account.

Let’s get right to the importance of every number on your debit card;

• The First Number: This tells you the industry, which has issued the card. It is known as the Major Industry Identifier (MII). It is different for different industries.

• The First 6 Digits: These tell us about the company which has issued the card. It is known as the Issuer Identification Number (IIN).Company’s Issuer Identification Number (IIN): For MasterCard, you will have something like this = 5XXXXX. For VISA it will be like this = 4XXXXX

All Visa cards start with the number 4,
Mastercards start with 5, Discover starts with 6. If you’ve noticed most websites don’t ask you what type of card you have, they know by the digits on the card

• 7-15th digit: These numbers are linked to your bank account number, and a lot of people get worried when they hear that, but you have absolutely nothing to worry about because these numbers do not reveal anything about you or your bank account. It is a unique number issued by the card provider that identifies your account.

• The last Number: This number is also known as a Check Digit. Through this digit, it can be deduced that the card is valid or not. The check digit is used to analyze card numbers for accurateness.

Did you know that you can verify a card number on your own too, No? Well you can and this is all you need do;

Double every other number, starting with the first number. Add the outcome of those multiplications to all of the other numbers on the card, treating all numbers as individual digits, including double-digit results from the doubling operation. If the total of all these numbers is divisible by ten, the number is valid according to the ISO standard, but if it is not, you know what that means. You are welcome.

• A CVV Number: A CVV is a three-digit number, which is printed at the back of the card. When paying bills online, a CVV number is imposed so that the transaction can be completed appropriately.

A Card Verification Value (CVV) is a variety of features used to ascertain the owner’s identity and minimize the risk of fraud. The CVV is also known as the card verification code (CVC) or card security code (CSC).

Yes, these are the crucial things I believe you should know about the numbers on both sides of your Debit Card.

Did you learn something new, or you gained more knowledge about your debit card, or anything, in general, relating to the post, please let us know by leaving a comment in the comments section below.

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