Bank Card
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 Definitions
Articles Of Interest
-
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. -
How To Establish A Credit History
Can't get a credit card without a credit history, and can't get a history without a card? Break the Catch-22. -
Choose To Beat The Bank
From internet banking to credit unions, it's in your power to cut fees and maximize service. -
All About Banking
This tutorial will tell you everything you need to know about how checking and savings accounts work. -
How Credit Cards Built A Plastic Empire
A decade before Mastercard or Visa existed, the first credit card company was introduced. -
Are credit cards and debit cards considered debt instruments?
Consumer debt instruments allow people to borrow money at specific interest rates. In recent years, the credit industry has become very imaginative in the creation and marketing of consumer debt ... -
What's On A Consumer Credit Report?
A look at the various components and considerations that go into one's credit report and credit score. -
7 Unconventional Ways Businesses Can Borrow Money
Find out how your business can get the money it needs - even when the bank says "no". -
Taxable Rewards To Be Aware Of
Find which benefits from reward programs count as income in the eyes of the IRS. -
Financial Solutions For Young Women
Break through the stereotypes and find out how to manage your life to meet your needs.
Free Annual Reports