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debit card

Defined in 1 dictionary — U.S. Code

United States Code

15 U.S.C. § 1681A — in this section (6 versions over time)

The term “debit card” means any card issued by a financial institution to a consumer for use in initiating an electronic fund transfer from the account of the consumer at such financial institution, for the purpose of transferring money between accounts or obtaining money, property, labor, or services.

15 U.S.C. § 1693o-2 — for purposes of this section (2 versions over time)

The term “debit card”—

(A) means any card, or other payment code or device, issued or approved for use through a payment card network to debit an asset account (regardless of the purpose for which the account is established), whether authorization is based on signature, PIN, or other means;

(B) includes a general-use prepaid card, as that term is defined in section 1693l–1(a)(2)(A) of this title; and

(C) does not include paper checks.

Show all 2 definitions and how they changed over time