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Glossary Term: DEBIT CARD

Definition(s) for DEBIT CARD:


1. ) A plastic card that resembles a credit card but which debits a transaction account from existing funds in a bank account such as checking account.

2. ) A plastic card giving consumers access to their funds electronically Debit cards act like checks when paying for goods and services or withdrawing cash at automated teller machines See also Automated Teller Machine; Credit Card; Magnetic Stripe Card

3. ) 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



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