Debit card expiration date | How to renew debit card

This article covers all you need to know about dedebit card expiration date, how to renew debit card and the difference between a credit card and the debit card.

Debit card expiration date

In banking and services, the use of debit card is very much common, money withdrawal and payment. However, some user’s do get confused on which is actually their debit card expiration date.

When making payments online using your debit card, there is a high tendency that you’ll be asked of your debit card expiration date. This is to confirm or verify that the card is very much valid and not a fake one.

To see you card expiration date, take a closer look at your card and you’ll see a digit numbers like this 12/22.

debit card expiration date

The the expiration date on debit card. 05 represent the month, while 22 represents the year. Using the above numbers as an example, it shows that the card will expire on the month of December 2022.

Debit card expiration date is written like this 12/22, and not 12/2022. So when you see the four digit numbers, know that it is the expiry date and the first two digits is the month, while the last two digits is the year.

Some financial institutions offers a longer period of four to five years before expiration, while some offers a tenor of three years. I don’t think if there’s any debit card that expired within one year or two.

For example, visa debit card expiration date is usually every four years, while some financial institutions using mastercard offers a tenor of three years as their debit card expiration date.

How to renew debit card

Immediately your debit card expired, what comes to your mind is how to renew debit card.

Most times, banks automatically renew it for their customers and notify you for the card collection. This is possible if you allowed it during account creation with the bank.

However, there are some banks that will notify of your card expiration few days to the date it will expire. They will call to ask if you wish to renew it automatically or go to the bank afterwards for the renewal.

In the case that your bank didn’t call or notify you of the expiration, and you didn’t apply for automatic renewal, you have to head over to the bank to renew your debit card.

So you have to go to your bank, speak with the customer service or the card services customer representative that your debit card expired and you wish to renew it.

You’ll be given a debit card renewal form to fill, which you have to enter your account details and also your card details.

Renewing expired debit card doesn’t require the customer to activate the card or to change a new pin code. Once your card is renewed, you will start using it immediately unless you want the bank to change some certain details attached with the card.

So your pin remains the same, and same with debit card number and cvv. What changes on the card is just the debit card expiration date and any other thing remain the same.

Difference between debit card and credit card

The two cards almost have the same look, the same number of card numbers, expiry date, pin and cvv at the back.

Though on some cards, you’ll see where it is written debit or credit card on the front of the card. This might be the first thing that shows you the difference between debit and credit card.

However, there are major differences between the two cards. These are;

Debit card offers bank customer the opportunity to withdraw or spend their money using the card, while credit card gives the users the opportunity to borrow money from the card in order to purchase items or withdraw cash.

With this, debit cards make it more difficult for bank customers to overspend since they are limited to only the amount available in their savings or current account.

With a credit card, a user can make a purchase even they don’t have available funds at the time of purchase. But this is completely different from a debit card. You are only liable to spend the amount of money in your bank account.

Using a a debit card, your sources of funds is only your bank account which includes savings or current account, while credit card is the card issuer.

The credit card issuer gives you access to money that you needed especially if you have a good credit score.

Using a debit card, a bank customer pay for goods through his or her account, while using a credit card is otherwise. The card issuer or credit card company pays for your purchase, then you pay the credit card company.

Using a credit card, you get a statement each month with details of the transactions you have made for the month.

The case is different using debit card, a bank customer won’t get any statement for the month, but rather you’ll get your bank account statement for the month.

Where is the expiration date on a debit card? 

On the front of your debit card, probably the four digit numbers which looks like this 09/23

When do debit cards expire?

Debit card expiration date is usually every four years or three years. For example the likes of visa debit card  expiration date occurs every four years.

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