Debit Card
/ˈdɛbɪt kɑːrd/
Definitions
- (n.) A payment card that deducts money directly from the cardholder's bank account to pay for transactions.
She paid for the groceries using her debit card.
- (n.) A card issued by a financial institution enabling the holder to electronically access funds in their checking account.
The debit card allows instant ATM withdrawals.
Forms
- debit card
- debit cards
Related terms
See also
Commentary
Often governed by specific electronic funds transfer laws; important to distinguish from credit cards in contracts and liability provisions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.