GLOSSARY
| Obsolete information Offline debit card Online banking Online debit card Open 30-day account Open account Open-end credit Over-limit fee Over-the-limit fee Overdraft protection |
GLOSSARY TERMS by Alpha # | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z Offline debit cardCards that share traits of both ATM and credit cards. Offline debit cards have the VISA or MasterCard logo on them and can be issued by a bank, either instead of or in addition to an ATM card. These cards can be used at any establishment that displays the VISA or MasterCard logo, but using them doesn't access a line of credit -- it debits a customer's checking account. It is "offline" because the account isn't directly accessed -- there's a delay of 24 to 72 hours before the debit is made in the account. If you sign a slip of paper to conclude the transaction, it was offline. In the U.S., no Personal Identification Number (PIN) is required to use an offline debit card.
Previous Term: Obsolete information Featured Services: |