What is a debit card? A debit card is issued from the cardholder’s bank, and the amount is deducted directly from the cardholder’s bank account. There are three types of debit cards:
1-Debit ATM card. These are issued to customers who open a checking or savings account at a financial institution to allow them to access their acounts 24/7 using the ATM. A true ATM card has no MasterCard/Visa logo on it, just the logo of the issuer. These cards can be used at the ATM or at retail outlets displaying the same regional, national or point-os-sale network logo(s) that are on the ATM card.
2-On-line Debit Card. An on-line debit card deducts funds from the bank account immediately, as soon as the card is used. These debit cards can either have the MasterCard or Visa logo, or they can only have the issuer’s logo, like an ATM card. To use an on-line debit card, the card-holder must provide a Personal Identification Number (PIN) to complete the transaction.
3-Off-Line Debit Card. An Off-line Debit card does not deduct funds from the checking account immediately. Transactions are processed like a regular credit card and the funds are not deducted for 24-72 hours. They have the MasterCard/Visa logo on them and can be issued either instead of or in addition to an ATM card when a customer opens a checking or savings account at a financial institution. Most issuers of debit cards are moving to this type of card rather than on-line debit cards.
Please visit http://blog.nabancard.com or http://www.nabancard.com for more information
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