Is the validity period on your debit card about to expire or has it already expired? If so, in order to keep using it to make purchases and get cash out of ATMs, you must renew it. Debit cards allow you to do more than make purchases, you can also use them to receive benefits like discounts and cashbacks. Therefore, it is imperative that you renew it on schedule and take the required preparations well in advance. Today, we’ll discover why your card expires, the renewal process, and more. So, keep reading.
What is the Expiry Date of a Debit Card?
The day when the card no longer functions is termed the expiry date of your debit card. The expiry date is printed on the front or back of your card. The specific date is not given. However, the month and year of expiration are mentioned on the card. The card will expire on the last day of the month. The date next to “valid thru” is the expiry date. For example, if it says valid thru 10/25, the debit card will expire on the last day of October 2025 (i.e., 31st October 2025).
Why Do Debit Cards Expire?
This is because they are upgraded with new technology every few years. When old debit cards are replaced, new features and functionalities are added. More significantly, over time, advanced security mechanisms are devised and implemented into the cards to address any vulnerabilities that could lead to fraudulent activity.
Furthermore, setting expiration dates decreases the danger of fraud and ensures that your card is safe, easy to use, and up-to-date with the latest technologies. Your card could also wear out after years of use. The plastic on the card, magnetic strips, and security chips are not resistant to deterioration. The new and updated card will take care of this. The new card will have upgraded features, be it design, chips, or technology.
How to renew your debit card?
Renewing your ATM or debit card before the expiry date is much easier. You need to provide a valid identity document and proof of your current address, such as a utility bill or bank account. You must also give information about your card, such as the card number, expiration date, and CVV. Banks use this information to link the renewal procedure to your account and update your information.
To renew your expired debit card, you can follow the steps given below:
- Online banking: Use your net banking credentials to log in to your bank account. Next, go to the debit card section and enter the required details to request a new card. Then, wait for the new card to arrive at your registered address.
- Customer care: Call the customer care number of your bank to ask them to renew your card. The bank representative will ask for your details to verify your identity. Once that is verified, the new card will be sent by post.
- Visit branch: To renew your debit card, you can also visit the bank branch. There, you must fill out an application form to request a new one. Once you have submitted the form, you should receive your new card in a few working days.
How to activate a new debit card?
Once you receive your renewed debit card, you need to activate it before using it. You can do this through ATMs, internet banking, or mobile banking apps. All you have to do is follow the instructions provided by your bank. Once you have completed the activation process, you can start using your card for online purchases, ATM withdrawals, and so on.
What happens to your old debit card?
Your old debit card will automatically be deactivated as you activate your new one. To prevent fraud, you should ensure the safe disposal of your old debit card. You can either cut or shred the card into pieces before throwing it away. This is an essential step to secure your financial information.
Endnote
Banks may levy annual fees on debit card renewals. The charges vary depending on the bank and the debit card upgrade you have opted for. So, do make a note of this. Renew your debit card with these simple steps and continue enjoying the debit card benefits it offers.