Debit card

A payment card that authorizes purchases or cash withdrawals against funds in the cardholder’s bank account, rather than borrowing money from a lender.

Payment card: A physical or digital credential used to initiate or authorize a payment. Debit cards are one type of payment card, alongside credit and prepaid cards.
Credit card: A payment card that lets its holder borrow from an issuer to make purchases. Unlike a debit card, it generally adds a debt that is repaid later.
Demand deposit: Bank funds that an account holder can withdraw or transfer on demand. A debit card most commonly accesses money held in a checking or other transaction account.
Automated teller machine: An electronic terminal that lets customers perform basic banking transactions without a teller. Debit cards commonly provide ATM access to cash and account services.
Point of sale: The place or system where a customer pays a merchant for goods or services. A terminal or checkout system captures debit-card details and sends an authorization request.
Prepaid card: A payment card loaded with funds in advance for spending or withdrawals. It draws on a stored balance rather than directly accessing a bank account.
Checking account: A bank account designed for frequent deposits, payments, and withdrawals. It is the account most commonly linked to everyday debit-card spending.
Cash withdrawal: The removal of money from an account, often as physical currency. A debit card can authorize an ATM withdrawal directly from the linked account.
Payment authorization: A decision by a payment issuer or network to approve or decline a transaction. The card issuer checks account funds and transaction rules before a purchase proceeds.
Charge card: A payment card whose balance is typically due in full at the end of each billing period. It finances purchases temporarily instead of deducting them from a deposit account.

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