Introduction –
One of the most common questions that many individuals who use the debit card is that why their debit card was declined, when they have the money. So, most of the time, people face frustration when standing at an ATM and trying to withdraw the cash, and then they get this message transaction decline 05 in ATM. It is possible that you have experienced the embarrassment regarding your debit card which is not working and that too when you have sufficient money in your account. So, let me tell you that you are not alone, there are many people who have suffered the same. Firstly, it is important for you to know or understand about the debit card transaction and its working. So, when you swipe your debit card at a store or in an ATM, many things happen. Through, the payment gateway data is transferred from your bank to the merchant’s bank.
Understand the Working of the Debit Card –
So, this process is specially done to verify if you have sufficient money for the transaction. If everything works out, then the transaction gets an approval or approved. And, finally your payment will go through and you will be allowed to withdraw the money. So, why does your debit card gets declined sometimes, even when you have money. The reason is as follows – insufficient funds reason – Having money in your account is not just enough, you should have sufficient available balance to cover the transactions. Besides all of that, banks most of the time set aside some funds for transactions that are pending or for other holds which reduces your available balance. Next reason is the exceeding of daily limits. Its obvious your bank most of the time sets daily limits for ATM purchases and withdrawals. So, if you try to withdraw the money from your daily limit or make high-value buying, then your card can be denied.
Issues of Blocked Card & Technical Glitches –
Besides all of that, if your debit card is stolen or lost and your bank is suspecting a fraudulent activity, then it can happen that they will block your card in order to protect it from misuse. So, in such a scenario even if you have sufficient funds, your card will not work out unless the issue with the banks is sorted out. So, even in such cases you will see that the transaction is declined at the ATM. Besides all of that, it is not about your bank account, when technical glitch happens. Moreover, technical issues in the payment system or at the merchant’s end can disturb the transaction. Also, there is bank related factors that is behind the debit card not working. Some such factors are – Payment Gateway Issues, Temporary Holds, Card Validity, Security Measures and Fraud Prevention, Fraudulent Activity, Geographic Restrictions and Unusual Spending Patterns
