What Falls Under the Term "Debit Card"

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Question:

I am trying to revamp and consolidate our ATM/POS Card and CHECK/POS Card request forms. We are now confused as to what the actual definitions of the above terms are, and whether they all fall under the term Debit Card.

Answer:

Reg E used the term "debit card" before debit cards as we know them now, were popular. Personally, I refer to ATM cards as the traditional product and debit/check (typically V/MC branded) cards as the access device that may be used anywhere a V/MC is accepted.

First published on BankersOnline.com 1/5/04