Routledge Dictionary of Economics, Second Edition
A card which makes possible the immediate debiting of a bank account at the time of purchasing goods or services; an ‘electronic cheque book’.
In the late 1980s major UK clearing banks, for example, made arrangement with retailers to introduce this system which makes possible transaction without the use of CASH, CHEQUES or CREDIT CARDS. Credit is only given to debit cardholders with permission to overdraw.
This is the complete article, containing 68 words
(approx. 1 page at 300 words per page).
View More Summaries on Debit card
