ATM + Debit Cards

Young Americans Bank offers ATM and Debit Cards to youth customers.  Keep reading to learn about the difference between these two cards and to decide if one is right for you!

ATM and Debit Cards – What’s the Difference?

ATM Cards

ATM cards let you access your savings account from ATMs (Automatic Teller Machines) all over Colorado, the US, and even some foreign countries.  You can withdraw money and check your account balance, but you can’t make a deposit.  You also can’t use your ATM card to buy things at a store.

ATM cards cost money to acquire and use.  But, if you need access to your money when the bank is closed, an ATM card may be the right choice for you.

Debit Cards

When you use a debit card, it’s like you are writing a check.  You are taking money directly from your checking account to pay for a good or service.  A debit card can be used anywhere Visa is accepted, which makes it easier to use across the US and in foreign countries.  Some stores no longer accept checks.

You can also use a debit card at an ATM (Automatic Teller Machine) to get cash from your checking or savings account.

If you make a lot of purchases, using a debit card is safer than carrying around a lot of cash.  But, if you don’t use your card responsibly, you may spend more money.  That’s why it’s important to keep track of your debit card purchases with your register or mobile app.

ATM Card Details and Fees

Fast Facts: Young Americans Bank ATM Card

• For withdrawals only; no deposits
• Can withdraw maximum of $100 per business day
• Transaction fees charged by Young Americans Bank – $1.50 (first 2 each month free)
• No ATM terminal charge when used at any FirstBank ATM (transaction fees still apply)
• No annual fee
• $5 re-issue fee (if you lose your card)

ATM Card Fees

ATM cards make accessing your savings or checking account easy, but they are not free.  If you lose your ATM card, you will need to pay a $5.00 re-issue fee.

Plus, each time you use an ATM card you might have to pay 2 different fees:

• Transaction fee – Each month, you’ll get two free ATM transactions (includes withdrawals and balance inquiries) through any Cirrus Interbank Network ATM. After these first two free transactions, you will be charged $1.50 per transaction from Young Americans Bank. This fee will appear on your quarterly or monthly statement from Young Americans Bank.
• ATM charge – This fee is charged to you by the owner of the ATM.  ATM charges are different depending on which type of ATM you are using. The ATM will tell you the specific charge before completing your transaction. This fee will also appear on your quarterly or monthly statement from Young Americans Bank.

These fees apply when you are withdrawing cash and/or checking your account balance!

Other Information

When you get your ATM card, you will also call the number on the card to set up a Personal Identification Number (called a PIN). You enter this code number each time you use an ATM. This helps prevent someone else from using your card if it is lost or stolen. Never keep your PIN with your ATM card!

Remember, ATM cards cost money to acquire and use.

Debit Card Details and Fees

Fast Facts: Young Americans Bank Debit Card

• Can only use with Young Americans Bank checking account
• Can be used for ATM access (all ATM transaction fees apply)
• $500 open-to-buy limit
• $100 per day ATM withdrawal limit
• Required to take a Debit Card class during account opening
• Re-issue fee of $5.00 for new cards

Debit Card Fees

If you use your debit card at an ATM, you may incur a fee.  For more information, read through the ATM fees section above, or contact Young Americans Bank for help: 303-321-2265.

Debit Cards vs. Credit Cards

Debit and credit cards look similar, but they are very different.  When you use your debit card you are “paying now”–a debit card withdraws money directly from your checking account.  A credit card allows you to “pay later”–you are essentially taking out a small loan that you will need to repay later from your checking or savings account.

Debit cards are complex products to use and understand.  Before you get a debit card, you’ll need to spend 20 minutes with a New Account Representative at Young Americans Bank to help you learn:

• How your card works
• The difference between the many types of “plastic” cards –ATM cards, debit cards, credit cards, gift cards, and more!
• The good and bad of debit cards
• Confusing terms such as “open to buy”

Other Information

It is important to inform Young Americans Bank if you plan to use your debit card while traveling outside the US.  Please call us at 303-321-2265 during business hours.

Lost or Stolen Cards

If your ATM or debit card is lost or stolen during Bank business hours, please immediately call us at 303-321-2265.  If the Bank is closed, immediately call 1-800-554-8969.