Debit card
A card that resembles a credit card but which debits a transaction account (checking account) with the transfers occurring contemporaneously with the customer's purchases. A debit card may be machine readable, allowing for the activation of an automated teller machine or other automated payments equipment. |
Similar financial terms
Preauthorized electronic debits (PADs)Debits to its bank account in advance by the payer. The payer's bank sends payment to the payee's bank through the _ACH)Automated Clearing House (ACH) system.
Debit
An expense, or money paid out from an account. A debit transaction is one which the net cost is greater than the net sale proceeds. The opposite of credit
Wild Card Play
The right, but not the obligation, to deliver on a futures contract at the closing price for a period of time after the trading close.
Wild card option
The right of the seller of a Treasury Bond futures contract to give notice of intent to deliver at or before 8:00 p.m. Chicago time after the closing of the exchange (3:15 p.m. Chicago time) when the futures settlement price has been fixed.
CARDs
Certificates of Amortized Revolving Debt. Pass-through securities backed by credit card receivables.
Smart Card
The Smart Card (SC) is a sophisticated stored-value card that contains its own computer chip so that it can be loaded with digital cash from the owner's bank account whenever needed. In Europe, Smart Cards are also referred to as ChipKnip.
