debit card definition

  • noun:
    • A bankcard familiar with make an electronic detachment from funds on deposit in a bank, such as buying goods or obtaining cash advances.
    • A card just like a charge card, but which takes money straight from bank account, in place of borrowing the amount of money from issuer regarding the card.
    • a tiny typically plastic card with a magnetic coded quantity, just like a credit card, which is used to fund acquisitions because of the electronic deduction of a sum of money (a debit) right from card-holder's bank-account. Such cards do not require the establishment of a credit range, and these types of transactions do not incur any interest payments.
    • a card (usually plastic) that enables the holder to withdraw money or to have the cost of expenditures recharged right to the holder's banking account

Related Sources

  • Definition for "debit card"
    • A bankcard familiar with make an electronic detachment…
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