FAQs - Visa Debit/ATM Card

What is the difference between an ATM and a Debit card?

A Debit card is widely accepted to make purchases and is more convenient to use. Both allow you to withdraw money from an ATM machine, but an LBS Financial Debit Card is also accepted at any merchant where you see the Visa symbol.

What is the limit on my debit card?

Subject to an available balance in your account, you may use your LBS Financial Debit Card to withdraw up to $400.00 within any 24-hour period from an ATM. Purchases made through a POS system (at a merchant) are limited to a maximum of $1500.00 within any 24-hour period. Premier Members have increased limits.

How can I stop a debit/credit card transaction?

Once authorization has been received, a stop cannot be made. However an affidavit may be filled out if there are fraudulent charges. Contact us for more information.

Can my Visa Debit Card or ATM Card limit be raised temporarily?

Please contact us for more information.

What ATM's can I use for free?

Click here to find an LBS Financial, CO-OP® ATM or F&M Bank ATM location.

How do I reset my ATM or debit card PIN?

Bring your card with ID to any of our branches to re-PIN.

Why do I have to pay a $1.00 fee and a surcharge when I use some ATMs?

LBS Financial participates in several ATM networks so our Members have access to their funds world-wide. As participants, we agree to the rules and terms that apply to all network participants. The different Networks collect fees from the ATM card issuers and pay them to the ATM owners when someone who is not their customer uses their ATM. The fees are given to the ATM owners to help offset the expenses, such as repair and maintenance, that they incur by allowing card holders who are not their own customers to use their ATMs. The $1.00 fee LBS Financial charges help us offset these network fees.

Although the network does assess fees, LBS Financial waives the $1.00 for all CO-OP® ATM and Farmers & Merchants Bank ATMs so our Members have free ATM access nationwide. ATM owners and even merchants with POS terminals may also assess a surcharge. That fee is collected by the ATM or POS owner and is in addition to those collected and distributed by the various ATM Networks. Federal regulations require that a notification of the surcharge be given prior to finalizing any transaction on the ATM or POS terminal.

Visit any LBS Financial, CO-OP® ATM, or F&M Bank ATM to avoid paying the $1.00 fee or any surcharge fees.

Why does the Credit Union have limits on how much I can spend using my ATM or Debit Card?

The Credit Union does not routinely place holds on ATM deposits and allows Members to immediately draw out funds from ATM deposits. Because the deposits are not verified, we limit the amount that can be taken on a daily basis. We also limit the amount due to the high volume of fraud that occurs with ATM and Debit Cards. Because we do not hold our Members responsible for fraudulent charges, limits on the amount of money that can be used each day help us minimize our losses when unauthorized activity occurs. Understand that these are daily limits, so each day the maximum amounts can be withdrawn.