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ATM card collection: Can a third party collect my ATM card from the bank?

ATM card collection – In a bid to make banking easy and free of stress, the ATM card and other financial instruments were created, however, their mode of operations and receipt from the bank has remained a huge source of confusion.

This guide has been written to guide you on ATM card collection from the bank, application, check book request, authorized and unauthorized users.

The concept of ATM card and Check book

The ATM card is a plastic ware with microchip that’s used to access an ATM, in this sense you can use it for cash withdrawal or deposit alongside a number of transactions as customized by the issuing bank.

Read also: ATM card blocking: How to block your ATM card with Nigerian banks

One thing you should have at the back of your mind is that the ATM card in question is linked to your bank account, as such all funds withdrawn or spent via the card will be debited by automation on your bank account.

The idea here is to ensure an authorized user of an ATM card can access cash with ease, carry out other transactions like online payments, (etc.) with relative ease.

Features of ATM card

Prior to ATM card collection it becomes just necessary to get acquainted with certain features of a card which you will require at some points to complete transactions as well protect your funds/bank account from an authorized user.

  • Your ATM card has a “CVV” (Card verification value), usually a 3-digit number used as an authenticator while carrying out online transaction.
  • There’s a daily credit limit which infers your card is entitled to spending/transacting certain amounts daily. Once you hit your threshold for the day you can no longer carry out withdrawal/payment until the next day.
  • Card PIN, this serves as the major transaction authenticator with your ATM card without which a transaction cannot be completed. You are advised to always use a PIN you can remember easily while you are not expected to reveal same to a third party under whatever guise.
  • PAN (Primary Account Number) here is a 16-digit number crested on your ATM card via which you are required to provide the last 4-digit most times while trying to sign up on USSD banking, etc.

Similarities among ATM card, debit card, and credit card

In Nigeria specifically, the ATM card can serve as a debit card in most cases in the sense that a debit card is linked to your bank account. Debits are passed directly on your available balance upon which such transaction may not fly in event you have a balance deficit.

While the credit card performs payment functions either online or offline just like the aforementioned two, however, a major distinct difference is that a credit card lets you borrow from a credit card issuer, funds you spend on credit card is not drawn directly from checking account.

The fund on a credit card is a loan you are expected to pay back on a predestinated date alongside an interest.

Now on ATM card collection and check book generally

This guide is being informed given the fact most ATM users are not just well informed on the rules and regulations guiding money instruments like ATM card and check book.

It’s considered impersonation, fraud or conspiracy to perpetrate fraud if you send a third party to collect your ATM card or check book from the bank, it’s such a financial regulation breach that you must not involve in.

A third party in a financial setting is an individual who is not an authorized signatory or not part of a mandate to the supposed bank account.

Why the bank wants to deal exclusively with the account owner strictly

You will agree that the major stock in trade here is money and the bank wants to ensure the safety of both your funds and confidence reposed on her.

In actual sense money is such a sensitive commodity that you can’t entrust into anyone’s hands, but you entrust your money with the bank hoping it has the capacity of safe custody. The bank doesn’t want to be found wanting.

Sometimes the need for ATM card collection could be as a result of card trapped in an ATM where you entrust your card with a third party, eventually it got trapped the third party may want to access or retrieve such card, it’s not doable.

Read also: 6 best credit cards in Nigeria

The Central Bank of Nigeria has gone ahead to issue a guideline that all trapped cards must be destroyed since it cannot trust the retrieval process.

This is applicable to check book, however, some banks may release a check book to a third party on owners instruction. Most times the third party is being issued a letter of instruction in case of a corporate company or organization, banks deal upon certain confirmations and relationship but not binding on a bank except the operators deem it a reasonable risk or have the appetite.


Now you know the rules guiding ATM card collection and check book in Nigeria, your experience may vary across banks but they all work towards achieving security concerns and common goals.

One comment on “ATM card collection: Can a third party collect my ATM card from the bank?

[…] five: To change PIN you will need to enter your ATM card PIN, once entered you can now input your preferred 5-digit PIN, confirm your PIN and submit, you […]

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