Bank Card

AAA

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.

INVESTOPEDIA EXPLAINS '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. Warm Card

    A type of ATM card that allows the bearer restricted access to ...
  2. Base I

    The data processing network used by Visa USA to process and provide ...
  3. Sweep Account

    A bank account that automatically transfers amounts that exceed ...
  4. Debit Card

    An electronic card issued by a bank which allows bank clients ...
  5. Minimum Deposit

    The smallest amount of money that an investor/trader must initially ...
  6. Automated Teller Machine - ATM

    An electronic banking outlet, which allows customers to complete ...
Related Articles
  1. Credit, Debit And Charge: Sizing Up ...
    Credit & Loans

    Credit, Debit And Charge: Sizing Up ...

  2. How To Establish A Credit History
    Options & Futures

    How To Establish A Credit History

  3. Choose To Beat The Bank
    Options & Futures

    Choose To Beat The Bank

  4. All About Banking
    Savings

    All About Banking

comments powered by Disqus
Hot Definitions
  1. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  4. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  5. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center