debit card

n. A bankcard used to make an electronic withdrawal from funds on deposit in a bank, as in purchasing goods or obtaining cash advances.

debit card

n (Banking & Finance) an embossed plastic card issued by a bank or building society to enable its customers to pay for goods or services by inserting it into a computer-controlled device at the place of sale, which is connected through the telephone network to the bank or building society. It may also function as a cash card, a cheque card, or both

deb′it card`

n. a plastic card through which payments for purchases are made electronically from the bank account of the cardholder. [1975–1980]

Thesaurus

Noun

debit card - 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 accountmagnetic stripe - a short strip of magnetic tape attached to a credit card or debit card; it contains data that will tell a reading device who you are and what your account number is, etc.positive identification - evidence proving that you are who you say you are; evidence establishing that you are among the group of people already known to the system; recognition by the system leads to acceptance; "a system for positive identification can prevent the use of a single identity by several people"charge account credit, open-end credit, revolving credit - a consumer credit line that can be used up to a certain limit or paid down at any time

Translations

借记卡

debit card

→ 借记卡zhCN

debit card

debit card,

card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machinesautomated teller machine
(ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip or computer chip.
..... Click the link for more information. for withdrawing cash from the user's checking account. Increasingly common in the 1990s as an alternative to credit cardscredit card,
device used to obtain consumer credit at the time of purchasing an article or service. Credit cards may be issued by a business, such as a department store or an oil company, to make it easier for consumers to buy their products.
..... Click the link for more information. , debit cards have been promoted as safer than cash and more convenient than personal checks. By 1998 more than 73 million debit cards had been issued, with a sales volume of $134.7 million attributed to their use. They are typically issued by large credit-card companies through their participating banks. Debit cards offer the holder more limited legal protections than credit cards. Similar cards have also been used to distribute welfare benefits to recipients in some locales.

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.

debit card

Related to debit card: credit card

noun

Words related to 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

Related Words

magnetic stripe
positive identification
charge account credit
open-end credit
revolving credit