Debit card

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Debit card

A card that resembles a credit card but which debits a transaction account (checking account) with the transfers occurring contemporaneously with the customer's purchases. A debit card may be machine readable, allowing for the activation of an automated teller machine or other automated payments equipment.

Debit Card

A card entitling the owner to make automatic withdrawals from a bank account to make purchases or to receive cash. That is, when one uses a debit card, the issuing bank transfers funds from the holder's account to the seller electronically. The holder of a debit card may therefore use it to buy a good or service. Debit cards operate much like credit cards but, while credit cards are essentially short term loans, debit cards are more like electronic checks. They are also called check cards, bank cards or, less commonly, asset cards.

debit card

A plastic card that may be used for purchasing goods and services or for obtaining cash advances for which payment is made from existing funds in a bank account. Because a debit card provides about the same float as a checking account (one to three days), it is a less desirable method of payment than a credit card. These cards are often part of the comprehensive all-in-one accounts offered by many brokers.

Debit card.

A debit card -- sometimes called a cash plus card -- allows you to make point-of-sale (POS) purchases by swiping the card through the same type of machine you use to make credit card purchases.

Sometimes you authorize a debit card transaction with your personal identification number (PIN). Other times, you sign a receipt just as you would if you were charging the purchase to your credit card. You can also use the card to make ATM withdrawals.

When you use a debit card, the amount of your purchase is debited, or subtracted, from your account at the time of the transaction and transferred electronically to the seller's account.

You have some of the same protections against loss with a debit card as you do with a credit card, but there is one important difference. While $50 is the most you can ever be responsible for if your credit card is lost or stolen, you could lose much more with a lost or stolen debit card if you don't report what has happened within two days of discovering it.

If you delay reporting a missing card, you could lose up to $500. And if you wait more than 60 days after receiving a bank statement that includes a fraudulent use of your card, you could lose everything in your account including your overdraft line of credit. You can find the specific rules on the Federal Trade Commission website at www.ftc.gov.

In addition, if you purchase defective merchandise with a debit card, there are no refunds. Most credit card issuers do not, generally speaking, make you pay for defective products.

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On the SkyMiles Classic Check Card consumers will earn one mile for every USD2 spent and 2,500 bonus miles for the first signature purchase and there is annual card fee of USD20.
Free checking, various savings accounts, loans, check cards, certificates of deposit, direct deposit, payroll deduction and superb member service.
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Within the next several years, the term "credit card," as we know it, will become antiquated, likely to be superseded by such terms as "banking card," "electronic payment card," or "check card." The industry foresees a time when bank customers will be able to use a single card to accommodate a variety of transactions, including automatic teller machine (ATM) withdrawals, credit purchases, direct bill payments, and purchases against predetermined stored value levels.
The 1995 card watch campaign, the public face of APACS' plastic card fraud prevention activity, will focus on the theme, "It only takes a moment", and will seek to reduce the fraudster's window of opportunity for fraudulent spending by stressing the short time it takes for cardholders to report cards missing and for retailers to check card transactions carefully.
Page 3 of 20 the new specialist application must also be compatible for the creation of the card in check card format.
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1, members in good standing will receive a rebate of 75% of the total interest they paid on eligible loans during 2014, an additional 75% of dividends earned on shares and deposits during 2014 and check card rebates that include 0.125% of signature-based transactions and one cent for each PIN-based transaction during 2014.
* Unlimited Smart Spender Rewards: Customers get $0.05 deposited in their Stellar Checking account each time they swipe their Susquehanna Visa check card for point-of-sale transactions and for every bill paid through Susquehanna On line Banking.
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