You might have money in your savings account, but the checking account or money market account you're withdrawing funds from has a negative balance. Some financial institutions may deny you from overdrawing from your account, preventing you from making a debit card purchase.
Insufficient funds are the main reason that debit cards are declined. Having insufficient funds means that there isn't enough money in your account to cover your purchase. Even though you may have enough money in your checking account, there is a difference between your bank account balance and your available funds.
There is a large number of reasons why a credit card may be declined, from there not being enough funds available on the card, to the card being expired, the billing address being incorrect, etc. Some of the most common errors associated with declined cards are listed below, along with an explanation of their meaning.
When your card is blocked, you cannot make online payments as it will get declined. Also, the card will not be read by the card reader at the ATM or it will not accept the PIN or decline the transaction again. You can confirm if the card is blocked by calling customer care service or at the bank branch.
A credit card might be declined for a variety of reasons, including suspicion of fraudulent activity or a maxed-out credit limit.
Your Visa debit card may not work due to something simple, like there being insufficient funds in the account, or because your card has been blocked by your bank as a security measure. If you're shopping online, it could also be a problem with the site where you're trying to make your purchase.
Having inadequate funds in your bank account is the number one reason why debit cards get declined. However, it has a simple solution. You can avoid this by keeping a close check on your purchasing habits and bank balance. Also, when choosing a debit card, opt for overdraft protection.
Another option is to call your bank. They may be able to unblock your card on the phone. Be sure to have all your personal details handy. They'll more than likely ask you a few security questions.
Application to the bank:
All you have to do is to submit identity proofs along with the application so that the bank can take further procedures to unblock the ATM card. It will take 48 hours to five working days to unblock the card in such a case.
If your account is frozen because the bank is investigating your transactions, freezes typically last about 10 days for simpler situations or around 30 days for more complicated situations. But because there are no hard-and-fast rules on this, it's best to assume it could last a long time.
How Do You Know if Your Bank Account is Frozen? If you have a frozen bank account, you won't be able to use your ATM and Credit/Debit cards as well. Each time, you'll see an error message on the screen, and any transaction that you make will fail to process.
Yes. A bank must send you an adverse action notice (sometimes referred to as a credit denial notice) if it takes an action that negatively affects a loan that you already have. For example, the bank must send you an adverse action notice if it reduces your credit card limit.
An account freeze resulting from an investigation will usually last for about ten days. However, there's no set limit for how long a freeze may last. A bank can effectively suspend your account at any time for as long as they need to in order to complete a thorough investigation.
If you have reason to suspect that your credit card number has been compromised, a card lock is one way to keep third parties from making purchases on your account — though you'll probably also want to contact your issuer to report credit card fraud and request a new card.
You may need to contact your bank to unlock the account or see if there are any restrictions for third-party connections. Once your online banking has been unlocked or restrictions are lifted, re-enter your bank info in the app.
So if your card is blocked for any suspicious reason while you're on the road, the first thing you should do is scope out an ATM nearby. Then, when you speak to your bank to arrange for the new card, you can also arrange to withdraw some emergency cash.
Submit Written Application: If the cardholder mistakenly or purposely has blocked the card, then he / she will have to submit a written application at the nearest bank branch. This must be accompanied by the cardholder's identity proofs so that the card can be unblocked.
A court must approve and order any withdrawal of funds from a blocked account. The most common reason to petition a court to withdraw funds from a blocked account is to access a blocked account because the account was created for a minor who has subsequently turned 18.
Banks may freeze bank accounts if they suspect illegal activity such as money laundering, terrorist financing, or writing bad checks. Creditors can seek judgment against you which can lead a bank to freeze your account. The government can request an account freeze for any unpaid taxes or student loans.
Is this legal? The truth is, banks have the right to take out money from one account to cover an unpaid balance or default from another account. This is only legal when a person possesses two or more different accounts with the same bank.
If due to some negligence or carelessness the ATM card gets blocked, then the best thing to do is visit your nearest bank branch. All one needs to do is submit a written application along with the cardholder's identity proofs, so that the bank can take further procedures to unblock the ATM card.
Visit ATM or Retail Store
Insert the card into the ATM, enter your PIN and the card should activate. You can then withdraw money or simply check your account balance to ensure the debit card is working.