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PANOLA NATIONAL BANK DEBIT CARD

A debit card (also known as a check card) looks like a credit card but it works more like cash or a personal check!  You can make purchases from merchants displaying the MasterCard logo.

What are the advantages of having a debit card from Panola National Bank?

• Convenience- You can pay from your Panola National Bank checking account at places where checks are not accepted.  Debit cards are more readily accepted than checks, especially when you are traveling. 

• Detailed Records- You get detailed records of your transactions.  The purchase date, merchant’s name and more is provided on your Panola National Bank checking account statement.

Using Your Debit Card

There are two options you have available to you when you use your debit card.  When you swipe the card through the reader, you will select a “credit” or “debit” button on the reader. 

The “debit” option works like an ATM (automated teller machine) transaction.  It is an immediate electronic transfer of money from your bank account to the merchant’s account.  To access your account at the store terminal, you must enter in your Personal Identification Number (PIN) as you would at an ATM.  The system checks your account to see if it has enough money available to cover the transaction.  This option has a limit of $300.00 per day.

The “credit” option resembles a credit card transaction.  The merchant’s terminal reads your card, identifies it as a debit transaction and creates a debit against your account.  However, instead of debiting your account immediately, it stores the debit for processing later by the merchant -sometimes within 2-3 days.  Instead of using a PIN number, you must sign a receipt as you would with a credit card transaction.  This option has a limit of $1,500 per day.     

Tips for Responsible Use of Your Debit Card

• A debit card is like a blank check, so you need to guard the card and the account number carefully against loss or misuse. If your debit card is lost or stolen, or if you think someone is using it fraudulently, call Panola National Bank immediately at the numbers below so we can block usage and replace your card:
  
  Normal Business Hours   903-693-2335 ext. 124
  After Hours and Weekends    1-800-264-5578
  (Also contact the bank immediately during normal business hours at 903-693-2335 for additional instructions.)

• Hold on to your receipts from your debit card transactions.  A thief may get your name and debit card number from a receipt and order goods by mail or over the telephone.  Your card does not have to be missing for it to be misused.

• Memorize your PIN number.  Do not keep your PIN number on your card.  Also, choose a PIN number that smart thief will not figure out such as your telephone number or birthday. 

• Never give your PIN number to anyone.  Keep your PIN private.

• Always know how much money you have in your account.  Don’t forget that your debit card may allow you to access money that you have set aside to cover a check which has not cleared the bank yet. 

• Keep you receipts in one place-for easy retrieval and better oversight of your bank account.

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