Debit Card

2015 07 01 | Category: Offshore Glossary

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Debit Card – A plastic card with a magnetic strip on its reverse side. A Debit Card (DC) holder is entitled to purchase goods or services when accepted technically by a Seller. A DC doesn’t provide any credit to the holder and it’s a ‘mirror’ of the underlying account with the DC’s issuer (a bank or business). Most often DCs are used for cash withdrawals via ATMs.

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