debit card

debit card
a plastic card that resembles a credit card but functions like a check and through which payments for purchases or services are made electronically to the bank accounts of participating retailing establishments directly from those of card holders.
[1975-80]

* * *

      small card, similar to a credit card, offering means of paying for a purchase through transfer of funds from the purchaser's bank account to the vendor. Financial institutions that process these transactions benefit from cheaper transaction costs (it is more expensive for banks to process transactions paid with checks) and immediate payment. Although the financial institution receives the credit immediately, the vendor is credited in the same way as in a credit card transaction—usually within a matter of days. Debit cards differ from stored-value cards (also known as smart cards), which simply subtract the transaction amount from cash value stored on the card.

* * *


Universalium. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • debit card — A card issued by a bank that combines the functions of an ATM card and a check. A debit card can be used to withdraw cash at a bank, like an ATM card. It can also be used like a check at stores, to pay for goods and services. A debit card is… …   Law dictionary

  • Debit card — Deb it card , n. [See {debit}.] a small usually plastic card with a magnetic coded number, similar to a credit card, which is used to pay for purchases by the electronic deduction of a sum of money (a debit) directly from the card holder s bank… …   The Collaborative International Dictionary of English

  • debit card — n a plastic card with your signature on that you can use to pay for things. The money is taken directly from your bank account →↑cash card, ↑cheque card, ↑credit card …   Dictionary of contemporary English

  • debit card — debit cards N COUNT A debit card is a bank card that you can use to pay for things. When you use it the money is taken out of your bank account immediately …   English dictionary

  • debit card — ► NOUN ▪ a card allowing the holder to debit a bank account electronically when making a purchase …   English terms dictionary

  • debit card — debit ,card noun count a plastic card given by a bank that you use for paying for things. It moves money automatically from your bank account to the account of the person you are paying. ─ compare CREDIT CARD …   Usage of the words and phrases in modern English

  • debit card — n. a kind of bank card that allows the cost of purchases to be automatically debited, or deducted, from the cardholder s bank account …   English World dictionary

  • Debit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl …   Wikipedia

  • 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… …   Financial and business terms

  • debit card — UK / US noun [countable] Word forms debit card : singular debit card plural debit cards a plastic card given by a bank that you use for paying for things. It moves money automatically from your bank account to the account of the person you are… …   English dictionary

  • debit card — noun a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder s bank account • Hypernyms: ↑open end credit, ↑revolving credit, ↑charge account credit, ↑positive… …   Useful english dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”