Debit card

Definition of Debit card

Deb´it card`
n.1.a small usually plastic card with a magnetic coded number, similar to a credit card, which is used to pay for purchases by the electronic deduction of a sum of money (a debit) directly from the card-holder's bank account. Such cards do not require the establishment of a credit line, and such transactions do not incur any interest payments.

Related Words

charge account credit, magnetic stripe, open-end credit, positive identification, revolving credit
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