What is Debit Card?
Debit Card A payment card linked directly to a checking or savings account, enabling electronic access to funds for purchases or cash withdrawals, governed by network and regulatory standards.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Debit Card” Used in Practice?
A debit card enables customers to make purchases or withdraw cash with immediate deduction from their bank account.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Debit Card?
A payment card linked directly to a checking or savings account, enabling electronic access to funds for purchases or cash withdrawals, governed by network and regulatory standards.
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