What Needs to Be Done When a Debit Card Expires

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Last updated on September 21st, 2024 at 10:28 am

Every financial institution puts debit card expiration date for its cardholders and its policy across. They are also commonly known as automated teller machine cards (ATM cards) and immediately when you get access to one it becomes easier to make transactions.

I use my debit card to make online purchases, withdraw money from my account through an Automated Teller Machine, clear bills, and more. But as the cardholder, you need to know what you have by looking at every item on the card most especially the digits since they are very important on the card.

Even though you’re allergic to numbers, ATM cards are much more simplified. And the numbers that appear on both sides of the card are indicated to be properly identified by the cardholder.

Some people who are good at transacting using these cards memorize the numbers or keep them somewhere safe for reference purposes say expiration date number. In this guide, we’re going to specifically look at the debit card expiration date number and what needs to be done when it expires.

Table of Contents

What Is the Meaning of the Expiration Date Number on A Financial Card?

If a financial institution issues a debit card it indicates on it when it should expire with a date number to be replaced before or immediately after expiration and it’s known as the expiration date number. And this shouldn’t worry you at any one time after all your account isn’t affected at all and the bank does its best to ensure that you get access to a new one in time.

Though it’s the responsibility of the bank to issue another card in time, where it’s not provided in time better you contact them to get covered for convenience.

Where Is the Expiration Date Found on A Debit Card?

Financial institutions put the expiration date number on either the front or behind the card indicating the month when it expires and the year in a two-digit format. On my card, it’s reflected as 11/23 that is it expires on the 30^th of November 2023.

Though the card expires, it’s possible to access your account by either going straight to the banking hall or using an app. Most people don’t allow to go past the expiration date hence ensure that the card is issued on time.

Sometimes it may expire when the account owner doesn’t know or could happen unintended for different reasons.

Can I Do Online Banking When a Debit Card Expires?

Though, when a card expires you won’t be able to make online purchases with the card, it’s possible to use all online banking features. If the bank you’re using offers say wire transfer services, Zelle, and more you’re good to go.

And that’s why it’s better to make thorough research about the services that bank offers irrespective of whether the debit card is active or not hence keeping posted. In case of any challenges, it’s better to contact customer service to get effective assistance.

Customer service can work things out pretty fast thus making use of them is best practice when in need of help.

Why Do Financial Institutions Put Expiration Dates on Cards?

There’re different reasons why banks put expiration dates on debit cards. When the old debit card expires you get a new one that serves better and is in very good condition compared to the previous one.

Sometimes the new card might contain new features which the old card didn’t possess for more convenience of use. And it’s also all done to ensure that the client uses a card that is in a better condition to be able to effectively make transactions.

Wear and Tear

Though a debit card is made of hard plastic and a magnetic strip, it also needs to be replaced having been used for a certain period.

Yes, it’s hard but the magnetic strip wears out, and also does the plastic plate. And when the magnetic strip starts wearing out the debit card isn’t efficient in making transactions.

The fact that you might have been using the card to make purchases most of the time the magnetic strips and chips get scratched and hence becomes ineffective. But when the bank issues a new card it’s very effective and efficient in making transactions.

Security Conscience

Financial institutions want to ensure that there’s no room for penetration by the wrong people into clients’ accounts. And this can be achieved through issuing a new validated debit card after a certain period when they think it’s fit.

Whenever a new card is given out there could be some new features that a bank introduces regarding information security. If the card you had before had no contactless capability, this time you might get one with contactless capability.

Avoid Fraud

There’re different items of reference on a card and one of the most critical is the expiration date. You can’t make a purchase when the card is out of date hence at any point-of-sale the expiration date is a factor.

It’s also impossible for somebody to get that expired card to use it to penetrate your bank account hence preventing fraudulent cases in that way. Anyone that would without permission attempt to make online purchases using your card without an expiration date won’t succeed.

When you have a card number but you don’t possess the expiration date then you’re not the rightful owner and it’s hard to make any transaction said Jason Oxman at the information technology council. Again, for anyone who tries to use your card to purchase without providing an expiration date, the transaction can’t successfully go through.

Extend New Products to Customers

Though banks can reach out to clients at any time through social media, phone, and more, it’s not enough. When a new product feature is introduced the best way to extend it to clients could be by embedding it into a new card on renewal.

If the item is attached to the card that a client uses all the time, he or she will get interested in it at any one time and then use it. Issuing new cards, it’s another way through which financial institutions market their products.

Most of the time when you get a new card, you’ll find that there’re some new product features attached or embedded into the card and these are meant to target customers.

When Exactly Do Debit Cards Expire?

Let’s put the expiration date on a card clearer here in the best way possible. Depending on the issuing bank a debit card can last for about 3 to 6 years from the date of issue.

Immediately when a debit card expires you can’t use it unless when you get issued a new one. As I said before mine has an expiration date of 11/23 which means I won’t be able to use it after November 2023.

Financial institutions most of the time notify their clients in advance about it and you can either receive yours as early as possible or later due to some unavoidable issues.

Do Financial Institutions Change the Debit Card Number on Making Renewal?

Getting a new card on the expiration of the previous one doesn’t affect the debit card number at all. Here, I mean the sixteen-digit number but the expiration date number and card verification number (CVV) change.

You can only be issued a new debit card number unless your card has been used to make unauthorized transactions say when stolen or lost. If someone makes unauthorized transactions accessing your account the bank most of the time recommends you open up a new account.

Though, at times some clients would insist on still using the old account having taken some legal actions about the case.

Wrong people may one day get those card details to penetrate your account and then start using your money without making any request from you hence keep the debit card safe.

It’s hard to tell whether hackers used the account number or debit card details to access the account that’s why opening up a new checking account is the best option. The old account number and the debit card number are both deactivated then you’re availed of new ones which you then have to keep safe.

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How Do I Go About Renewing a Financial Card?

Before you even think of it, the bank automatically notifies you that the debit card is expiring soon such that you receive an up-to-date version knowingly in time. You may be reached out through social media platforms, mail, or any other means of communication.

Why communication? You can notify the bank whether you’re still in need of their services before any action is taken. The bank won’t give you a new card in case you’re not interested in one for some reason.

And if you’re interested in a new card it won’t last for more than two months to access it before the old one expires.

The time of updating a new card it’s the best time to make any changes that you would wish concerning your bank card details. Before the bank routes the card it’s better you ensure that it’s delivered in your presence hence you need to discuss it in time with your bank.

What Can I Do If My Financial Card Isn’t Delivered in Time?

Banks ensure to keep clients posted about the progress when delivering debit cards and sometimes the process isn’t effective. Though you’re notified about it, in case you don’t receive the card within a fortnight it’s better to communicate back.

Don’t you think the card might have been lost or stolen along the way via mail? And if so then the bank will have to get you a new card at no cost to you at all in time.

If knowingly the bank will issue the debit card past the expiration date, then it will have to find ways to cover up such that clients can still transact using the old debit card.

What Can I Do When a New Debit Card Arrives?

Most people find a hard time after receiving a new card since it might come with changes here and there. If you’re used to the system there’s nothing much about it though some of us are just not flexible naturally.

Let’s have a look at some of the things that need to be worked on immediately when the card arrives.

Activation

You can’t use a card without activating it and that’s why the bank sends an activation sticker with an activation number on it. Then you have to call the number and listen to the instructions and do things correctly.

To activate a debit card it’s all about your debit card number, card verification number, and then the pin code. Alternatively, you can activate a debit card using an ATM by making a withdrawal or deposit and on entering the pin the card is activated.

Debit Card Disposal

You don’t need to keep the old card with you it’s better to shred it or cut it into pieces having gotten a new one. It’s not advisable to just throw it away and some banks request for them to do the disposal most effectively.

When disposal is properly done, you’re very sure that no one can get access to your card details unless otherwise.

Accounts Update

This is also among what most people are worried about but it’s worth your time when it comes to finances. Sometimes when a new card is issued you need to make updates on those accounts that were connected to the previous expired card details.

It’s meant to get clear with online transactions such as automatic bill payments, PayPal, and other online payments. Though it’s good to make sure that your current card details are matching with your other accounts but it’s better to link them with a checking account to avoid getting trapped in debit card update issues.

Conclusion

There are things you need to know about a debit card like how to get a new one, how to transfer money from an expired debit card, how to withdraw money with an expired debit card, and more. But when you get to know that your debit card is about to expire and you’re interested in a new one, ensure to get it in time to avoid getting inconvenienced when making transactions.

I decided to come up with what to do with an expired debit card in a few pages in response to the questions as briefly listed.