What is a ShazamChek Debit Card?
A debit card is nothing more than a plastic, encoded card that you can use to make purchases or get money from an ATM, with the funds being automatically deducted from your Liberty Bank checking account. This is not a credit card (even though merchants are to treat it as a Master Card “credit transaction” at their cash register – more on that later).
ShazamChek is the “brand” of debit card that we offer, since our ATM transactions are all processed through the Shazam regional network. The cards also carry the MasterCard logo so that you can use it any place around the world that accepts MasterCard credit cards.
Why do I need one?
Have you ever been out of town and tried to write a check? What a hassle! With ShazamChek, all a merchant has to do is “swipe” your card through their cash register or credit card terminal and within seconds you are on your way with your purchases! No more having to fumble with “three kinds of identification” or having to recite your “correct address and phone number”. Use your ShazamChek card at millions of merchants around the world that accept MasterCard.
Do I also need an ATM card?
Your ShazamChek card doubles as an ATM (automated teller machine) card, enabling you to draw cash from any one of thousands of ATMs around the world! There’s no need for a separate card for ATM transactions!
What does it cost?
The first card is FREE !!! There is no fee to have a ShazamChek card, or for any purchase transaction where you sign the sales slip just as you would with a credit card purchase. There is a fee (currently one dollar) any time you use an ATM other than one we own (foreign ATM) or one we may have otherwise designated as “fee-free”.
PLEASE NOTE: When you use your ShazamChek card, always tell the merchant that it will be a “credit transaction” (even though you know it is a debit card, not a credit card!). If a merchant asks you to enter your four-digit personal identification number (PIN) at their cash register, chances are it will be treated as a “foreign ATM” transaction by and it will cost you one dollar! There is a fee (currently $10.00) to replace any lost, stolen, mutilated or otherwise unreadable card and a charge of $5.00 for a change of PIN.
Know your limits!
The bank establishes a daily limit for your card based on several factors. The limit is expressed in terms of 750/500/1500 (amounts may vary) which refers to the Daily/Unmanned/3-day limits. The daily limit is the total amount you may access in one day’s time for both purchases and ATM withdrawals. The unmanned limit is for access at “unmanned terminals” only, meaning ATM’s. The 3-day limit was designed to reduce exposure over a weekend or holiday situation, where the bank doesn’t receive transactions each day. The limits protect you in case your card is lost or stolen, and they also protect the bank. Shazam enforces the daily limits according to their cutoff time for processing work. With ShazamChek, every merchant “authorization” is counted against your limit, not just what you purchase or how much cash you received from an ATM. So be aware that if you reserve a hotel room with your ShazamChek card number, or other similar situation and a merchant processes an authorization, that amount will count against your daily limit each day for several days until the actual corresponding payment transaction is processed by the merchant and then “clears” your account. This is because once a merchant processes an authorization, they are guaranteed those funds. For that reason, there is no way to put a stop-payment on a ShazamChek purchase. (There is, however, a method for the merchant to process a credit back to your account for returned goods.)
Since Shazam’s computers never know how much money you actually have in your account (we don’t give up that information!), these limits are what determines whether or not your transaction is approved. If a transaction is denied, it doesn’t necessarily mean that you didn’t have enough in your account to cover the amount in question.
If you find that you need a higher limit, please call or stop by. We’ll take a look at your situation and do all we can to help!
Why restrictions apply:
With either the ShazamChek card or Shazam ATM card, the bank is at risk in guaranteeing payment to the merchant or ATM owner when there may not be enough funds in the account to cover the transaction. For that reason, we reserve the right to refuse a card request or cancel a card that has been issued. Some of the factors we consider include: status of current relationships with our bank, credit history, overdraft history, and how long the account has been with us.
A word about PIN numbers: When you apply for a ShazamChek Debit Card or Shazam ATM Card, you agree not to share your personal identification number (PIN) with anyone. This means you shouldn’t write it on the card, or elsewhere in your wallet or purse where a thief can have access to it. The best way to remember your PIN is to use it often! Don’t give your money away to a thief! Safeguard your PIN.
Still have questions? Please stop by or call one of our customer care experts TODAY!