Financial Dictionary

DEBIT CARD - Almost as tricky to get these days as the good old 'Credit, Credit Card", a debit card is directly tied to a bank account. Whatever charges the user runs up are debited to the bank account, and monthly statements do not carry a remittance slip. The same account may have a cheekbook tied to it as well. Credit as such, however, is not extended since you are not allowed to use the card if the balance on the bank account wanders into the red.