DEFINITION of 'Bank Card'

Any card issued against a depositary account, such as an ATM card or a debit card. Sometimes the phrase is also used to refer to Visa and Mastercard, since these are also issued by banks, but they are credit cards and not linked directly to a depositary account.

Bank cards may be limited in their use, Some can only be used at ATM machines or for certain purchases.

BREAKING DOWN 'Bank Card'

Withdrawals or payments with bank cards will typically result in an immediate corresponding change in the balance of the account on which it is issued. This contrasts with credit cards, which issue statements at monthly intervals with balances which must be paid by a certain date.

Many bank cards are associated with either Visa or Mastercard; although purchases are debited from deposit accounts, purchases can be made as "credit" anywhere that accepts either Visa or Mastercard.

RELATED TERMS
  1. MasterCard Card

    A credit, charge, debit or prepaid card branded by MasterCard ...
  2. Visa Card

    A credit, debit or prepaid card branded by Visa, a major payments ...
  3. Credit Card

    A card issued by a financial company giving the holder an option ...
  4. Primary Account Number (PAN)

    The 14, 15 or 16 digit number that appears on the primary account ...
  5. Offline Debit Card

    A card that combines characteristics of both a traditional (online) ...
  6. Open Loop Card

    A credit card, debit card or gift card that a consumer can use ...
Related Articles
  1. Personal Finance

    Visa vs. MasterCard: Is There a Difference?

    Visa and MasterCard are two of the most widely used credit card brands. But are the differences between the two significant enough to influence consumers?
  2. Personal Finance

    Credit, Debit and Charge: Sizing Up The Cards in Your Wallet

    Not all plastic is equal! Learn the difference between the three kinds, and how each can affect your finances.
  3. Personal Finance

    American Express's Main Competition

    American Express competes with Visa, MasterCard, and Discover Financial Services in the credit card space. It also competes with banks to draw consumers.
  4. Personal Finance

    How Credit Cards Built A Plastic Empire

    A decade before Mastercard or Visa existed, the first credit card company was introduced.
  5. Personal Finance

    Credit vs. Debit Cards: Which Is Better?

    Be strategic about the card you choose.
  6. Personal Finance

    How Debit Cards Work

    Unlike credit cards, debit cards rely only on the funds available in the user’s account, so they do not let users borrow on credit. They frequently come with purchase limits, and using one at ...
  7. Personal Finance

    3 New Types Of Credit Cards To Look For

    These three types of credit cards are becoming popular with customers looking to pay less fees and build up their credit scores.
  8. Personal Finance

    Debit Cards: Why They're Not As Safe As You Think

    Ditching your credit card can be a smart move, but debit isn't yet an equal alternative.
  9. Personal Finance

    How Many Credit Cards Should You Have?

    National stats indicate most consumers have three or more cards - are you one of them?
  10. Personal Finance

    How To Live Without A Credit Card

    Debit cards are more widely accepted and provide better fraud protection than in the past.
RELATED FAQS
  1. How do prepaid debit cards work?

    Learn about how prepaid debit cards work, including where they are accepted and how the financial part works like a checking ... Read Answer >>
Trading Center