debit card

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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.
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 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.
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, 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.
References in periodicals archive ?
And she said the banks would not have to pay any money from our account because there was no cheque card guarantee.
Information is received electronically in the format most convenient to the issuer, and currently, Cardcast maintains, updates and manages the only comprehensive list of "hot" payment and cheque cards in the UK.
The debit and cheque cards, which are branded as "Easy Card" in Asia, allow customers to pay for travel or any other products and services wherever the cards are accepted around the world and obtain money from automated teller machines.
In the last 12 months, a total of 257 frauds involving cheque cards or credit cards were recorded in the Roath and Cathays area.
We expect that our future filings will begin to reflect both the progress Global Travel Exchange has made on the travel booking front and document increased revenue generation from the continued growth of its Easy Card debit and cheque cards, which have been launched by Asia marketing partner, Worldwide Global Express.
During the month of October, the period that is covered in this newsletter, Global Travel Exchange reached a number of milestones including the announcement of the Easy Card name for its debit and cheque cards that have been launched in multiple countries by Asia marketing partner, Worldwide Global Express.
OTCBB:GRXI) today announced that the cheque cards of wholly-owned operating subsidiary, Global Travel Exchange, Inc.
a leading provider of direct access travel distribution technology, has received a one-year contract from its marketing partner, Worldwide Global Express, for 300,000 Global Cheque Cards.