On this page, you'll find the legal definition and meaning ofDebit Card, written in plain English, along with examples of how it is used. What is Debit Card? “A bank issued card that can be used in lieu of a check to pay for goods and services as well as used as an ATM card....
Banks attempt to prevent debit card fraud by flagging cards when it appears that someone other than the card owner may have attempted to conduct a transaction. Generally, merchants cannot process transactions conducted with flagged debit cards until the cardholder has made contact with the issuing ba...
Financial Reform Bill 101: What It Might Mean for Your Debit CardThe financial reform bill passed Thursday in the Senate couldreduce costs to retailers. That...By GrierPeter
This is one good reason why you should care about your debit card expiration date. What to do after my debit card expires? Like I mentioned earlier, you should have received the replacement card weeks or even months before its expiration date. This is because banks and financial institutions ...
An ATM card works two different ways--as credit or debit. When it is used as a credit card, many banks do not charge fees and the money does not come out of the account immediately. A debit card requires that a pin number be entered at the point of sale. The money automatically com...
“When you use your debit card every month, you use the same willpower to not overdraw your account,” Rossman says. “If you have the power to avoid draining your account with a debit card, you can also do that with a credit card.” ...
Once your debit card has been hot-carded and the bank has addressed the security concerns regarding your account, you could have a bit of security footwork to do on the back end. Oftentimes, card numbers are procured through hacking, so it is likely prudent to go through and change your ...
What Is a Debit-Card Service Charge? What Does Non Re-Loadable Mean on a Debit Card? Most of the cards attached tochecking and savings accountsfrom a bank do not charge fees. However, a debit card that isn’t attached to a particular bank might have many fees that you might not even...
What do interchange fees mean for cardholders? Merchants, not cardholders, are charged interchange fees, but the charges can still affect consumers in a variety of ways. A retailer may, for instance, choose to embed the cost of those fees in the prices of its goods, in effect passing it...
What do credit card numbers mean? Each digit in a credit card number (or debit card number), has a specific meaning and acts as a unique identifier when grouped together. Let's break down what each digit means. The first number