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 ?
We are offering customers as many debit or cheque card cancellation alternatives as possible.
The Post Office's Travel Money Card costs pounds 10 and the Amex Travellers Cheque Card costs pounds 20.
Foreign currency, travellers cheques and the new American Express Travellers Cheque Card can be ordered up to the value of pounds 3,000.
But it was in the days when a cheque card only guaranteed something like pounds 25, and the garage man had no intention of taking a foolish youth's background on trust.
Two women, possibly a mother and daughter, used forged cheques and a stolen cheque card to buy goods from a furniture store.
The account includes real value adds, such as customers getting access to a second Elite account for spouses or life partners at a 25% discount, a gold cheque card, a gold credit card, reduced interest rates, and unlimited electronic transactions," says Mr.
Miss Owen is also blieved to be suspected of a pounds 250,000 credit card and cheque card fraud.
In the UK, the first cheque card was launched in 1965 to guarantee cheques up to pounds 30.
The group is also offering the new American Express Travellers Cheque Card, which can be loaded with foreign currency in the UK and used like a debit card abroad.
The cashier wanted a cheque card, a passport, a specimen of water, a temporary address, a blood group.